Go Back  PPRuNe Forums > PPRuNe Worldwide > Fragrant Harbour
Reload this Page >

Bond for rejoining rated pilots?

Fragrant Harbour A forum for the large number of pilots (expats and locals) based with the various airlines in Hong Kong. Air Traffic Controllers are also warmly welcomed into the forum.

Bond for rejoining rated pilots?

Old 8th Nov 2022, 15:41
  #41 (permalink)  
 
Join Date: Jul 2018
Location: Straya
Posts: 28
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Oli777 View Post
----

But I'm still not seeing this massive broke hole so to speak?
70000HKD - 10% tax (sure you pay upfront, a lot of countries do that... but irrelevant as we all pay tax)
63,000 net
with zero housing allowance
20,000 rent
43,000 now..
Can you give an idea of the size mpf deductions (you are still getting this fund, its just a pension) and what yearly medical costs if Cathay is paying for your medical insurance? used to be 6% mpf.
So 6% of 70,000 = 4200pm into a pension...

still leaves you with around 39000HKD for transport + food? Am I close...
What about education for your kids? You left that part out of your equation. Schools are expensive in Hong Kong every one knows that, unless you are planning onto sending your kids to a local school where they are taught to be a copy machine...I think your 39k is going to disappear very quickly.
ChrissyPrezzie is offline  
Old 8th Nov 2022, 17:56
  #42 (permalink)  
 
Join Date: Jun 2002
Location: Eden Valley
Posts: 2,028
Received 3 Likes on 1 Post
Itís called aviation poverty. Itís sad-itís real. Iíve seen crew take passenger meals off the aircraft, to the hotel to make ends meet. This was COS 18 pilots pre-COVID and post-COVID in another life. Extraordinary and sad. Aviation poverty is very real and I guess you go on as long as the body holds out.

Iíve worked for five airlines. The one that sees high turnover & the potential for runners, had a bond. Originally KA didnít have a bond. And if you did the command within a year or two the training investment was extraordinary. Towards the end, KA probably had a bond for COS 18 as we had guys doing runners after getting sign on bonuses as well as the new normal of losing guys in odd circumstances- a new joiner, a bit nervy of his check, smoked a few joints the night before and was caught in the testing; much to the shock of everyone but those on the line!

Last edited by Gnadenburg; 8th Nov 2022 at 21:54.
Gnadenburg is online now  
Old 9th Nov 2022, 03:59
  #43 (permalink)  
 
Join Date: Sep 2020
Location: Hong Kong
Posts: 42
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by ChrissyPrezzie View Post
What about education for your kids? You left that part out of your equation. Schools are expensive in Hong Kong every one knows that, unless you are planning onto sending your kids to a local school where they are taught to be a copy machine...I think your 39k is going to disappear very quickly.
-----------

Sure, if your child goes to school and that's around 140,000HKD a year so around 12000HKD pm, that still leaves you with 27000HKD extra per month. With "a child" in mind one has to take in the wife's salary surely?
I'm still not seeing how young people are going off the rails because they can't make ends meet? Are they spending way above their means and now blame the system, or maybe their wife stays home and spends a fortune to fit in?
The above scenarios in the thread still take into account zero housing allowance.
Oli777 is offline  
Old 9th Nov 2022, 05:38
  #44 (permalink)  
 
Join Date: Jan 2010
Location: Hong kong
Posts: 87
Likes: 0
Received 0 Likes on 0 Posts
I dont know what schools you send your kids to but most cost nothing like HK$140K p.a. I have kids and grandchildren at school here Oli777 do you ?
veryoldchinahand is offline  
Old 9th Nov 2022, 05:44
  #45 (permalink)  
 
Join Date: Jun 2022
Location: Cern
Posts: 51
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by veryoldchinahand View Post
I dont know what schools you send your kids to but most cost nothing like HK$140K p.a. I have kids and grandchildren at school here Oli777 do you ?
Really? You looked at the fees for ESF? How about other international schools? Clearly you have no idea.

I know I donít have to spend that much money for schooling and send my kids to a local school, but I want my kids to be able to think outside the box and succeed in their chosen career instead of rote learning everything.
Babyjet_dododo is offline  
Old 9th Nov 2022, 06:03
  #46 (permalink)  
 
Join Date: Mar 2002
Location: Above and beyond
Posts: 1,057
Received 22 Likes on 15 Posts
Originally Posted by veryoldchinahand View Post
I dont know what schools you send your kids to but most cost nothing like HK$140K p.a. I have kids and grandchildren at school here Oli777 do you ?
During my time in Hong Kong, DBIS was a popular school for the plethora of CX families living in Discovery Bay. The current fees at DBIS range from HK$122,800 p.a for a five year old attending kindergarten, up to HK$185,500 for a 17 year old in Year 12. On top of that, there's a one-time non-refundable development levy of HK$60,000, payable on entry.

The Australian International School was another popular school. The fees at AIS range from HK$107K for a child in reception, up to HK$223K for a child in Year 12. There's also an annual capital levy of HK$22,000, or a depreciating debenture of HK$120,000 per student that must be re-purchased after eight years.

Things aren't much better at the ESF schools, where it costs HK$119,100 p/a for a child in primary school, up to HK$144,700 for a child in Year 12, plus a one-time non-refundable capital levy of HK$38,000 for a child entering Year 1.

So, for a family with two school age children, you could potentially be looking at paying anywhere between HK$214,000 p.a (HK$17,833 p.m) and HK$446,000 p.a. (HK$37,166 p.m), depending on the ages of the children and the choice of school, plus the capital/development levy.

Last edited by BuzzBox; 9th Nov 2022 at 06:16.
BuzzBox is online now  
Old 9th Nov 2022, 09:43
  #47 (permalink)  
 
Join Date: Jul 2018
Location: Straya
Posts: 28
Likes: 0
Received 0 Likes on 0 Posts
BuzzBox - Sounds about right.

Oli777 - My kids are going to international schools at the moment and I can guarantee you the fees we are paying is much higher than what you quoted. Fortunately I left Cathay few years ago and the money I'm making right now is WAY enough to cover the cost. By the way, some women would choose to stay home and take care of their kids, because to them, those are the important time they do not want to miss. With Cathay's current package, I hardly think the mums could do that, let alone about buying a flat!
ChrissyPrezzie is offline  
Old 9th Nov 2022, 10:36
  #48 (permalink)  
 
Join Date: Jun 2022
Location: Cern
Posts: 51
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by ChrissyPrezzie View Post
BuzzBox - Sounds about right.

Oli777 - My kids are going to international schools at the moment and I can guarantee you the fees we are paying is much higher than what you quoted. Fortunately I left Cathay few years ago and the money I'm making right now is WAY enough to cover the cost. By the way, some women would choose to stay home and take care of their kids, because to them, those are the important time they do not want to miss. With Cathay's current package, I hardly think the mums could do that, let alone about buying a flat!
Nothing beats two parents working just to afford to survive living in HK in a tiny shoebox!
Babyjet_dododo is offline  
Old 9th Nov 2022, 11:51
  #49 (permalink)  
 
Join Date: Sep 2000
Location: The Back of Beyond
Posts: 148
Likes: 0
Received 0 Likes on 0 Posts
BuzzBox is bang on.
Flying Clog is offline  
Old 9th Nov 2022, 21:58
  #50 (permalink)  
 
Join Date: Jun 2000
Posts: 465
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by veryoldchinahand View Post
I dont know what schools you send your kids to but most cost nothing like HK$140K p.a. I have kids and grandchildren at school here Oli777 do you ?
Kids and Grandchildren at school at the same time?
Have you been playing up down at the bars in "East Admiralty" you senile old git ?
fire wall is offline  
Old 25th Nov 2022, 10:35
  #51 (permalink)  
 
Join Date: Nov 2022
Location: Hong Kong
Posts: 7
Likes: 0
Received 0 Likes on 0 Posts
OMG. I have many friends who are doctors, lawyers, engineers and I never heard of anyone saying anything about Bond. Pilots are under that "Professional" job category but they need to enter a Bond?? Wow. This is so new to me.
MDRT22 is offline  
Old 29th Nov 2022, 01:31
  #52 (permalink)  
 
Join Date: Feb 2016
Location: Almost 6ft under
Posts: 80
Likes: 0
Received 0 Likes on 0 Posts
When I left HKG in the 80s, I second guessed my decision often. There were a couple of sh1tty years but things worked out well at the end.

Move on.
Sea Eggs is offline  
Old 29th Nov 2022, 08:22
  #53 (permalink)  
 
Join Date: Apr 2016
Location: Honky
Posts: 179
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by veryoldchinahand View Post
I dont know what schools you send your kids to but most cost nothing like HK$140K p.a. I have kids and grandchildren at school here Oli777 do you ?

Veryoldchinahand you are absolutely clueless. Nearly all the international schools cost this amount or more in HKG.

You obviously have no idea what youíre talking about.

Xwindldg is offline  
Old 3rd Dec 2022, 20:01
  #54 (permalink)  
 
Join Date: Dec 2022
Location: Ethiopia
Posts: 6
Likes: 0
Received 0 Likes on 0 Posts
absurd

It's becoming more obvious that companies will do anything to enslave their employees!
PilotEt is offline  
Old 4th Dec 2022, 14:11
  #55 (permalink)  
 
Join Date: May 2007
Location: a happy place
Posts: 82
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by ChrissyPrezzie View Post
If Elon Musk took over Cathay today, he would have fired all top brass with no mercy and shaked up the whole company in a week time, just like what he is doing with Twitter right now. He would have folded the IT department and brought in his staffs from Tesla to revamp everything. This is 2022. We need someone like Musk to be in charge!
and you would be an astronaut
el commandante is offline  
Old 5th Dec 2022, 04:28
  #56 (permalink)  
 
Join Date: Jan 2010
Location: Hong kong
Posts: 87
Likes: 0
Received 0 Likes on 0 Posts
Fire Wall
Yes, my youngest boy is still at school and my eldest boy has children. Is that so very odd ?
It is rather difficult to understand the motivation for your childlike rudeness but then there probably is no cohesive reasoning .
Possibly trip to your local shrink may prove beneficial as clearly you have issues that you find difficult to manage.
I fervently hope that you are not still flying.
Xindldg. I have been paying HK school fees for the past 29 years and over the years they have crept up beyond that I had realised and you are absolutely correct this year we are paying HK$140K for our youngest boy
veryoldchinahand is offline  
Old 5th Dec 2022, 04:54
  #57 (permalink)  
 
Join Date: Sep 2020
Location: Hong Kong
Posts: 42
Likes: 0
Received 0 Likes on 0 Posts
29 years? I can't be the only one wondering about this damn boy
Oli777 is offline  
Old 5th Dec 2022, 12:29
  #58 (permalink)  
 
Join Date: Mar 2000
Location: Hong Kong, SAR.
Posts: 296
Likes: 0
Received 0 Likes on 0 Posts
You're paying your grandchild's school fees?

Sweet deal for your son.
Oasis is offline  
Old 6th Dec 2022, 03:19
  #59 (permalink)  
 
Join Date: Aug 2014
Location: Hong Kong
Posts: 19
Likes: 0
Received 0 Likes on 0 Posts
You can’t work out how someone might pay school fees for 29 years? I’d stick to the simple arithmetic of descent calculations if I was you. 😂
Hugo Peroni the IV is offline  
Old 8th Dec 2022, 10:55
  #60 (permalink)  
 
Join Date: Jan 2010
Location: Hong kong
Posts: 87
Likes: 0
Received 0 Likes on 0 Posts
The simple answer to any mystery is very simple - several sons -two wives (the first one tragically past away at a young age). Eldest boy 32 youngest 16
No mystery here -move along please
veryoldchinahand is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.