New OAT Cadet Scheme ...

[PAJ]

Just to clarify, the deal HSBC offers CTC Wings cadets is financing for the training bond, full funding for the Foundation Course (PPL, NR and advanced SE training) and then just over £10k in living expenses. All of this is available without security. If you already have prior experience, you get credited back hours (and therefore money) that you do not use.

[ron83]

Hi guys,

can anyone give links to threads regarding CTC wings cadet selection process,can't find one.

Regards,Ron.

[fibod]

Blatant age discrimination. Surely as a cadet programme leads to employment, it is covered by the regulations?

[bri1980]

Age loophole

It may depend how they define the course. If the legislation says that employers can't discriminate on age but doesn't mention students, then they could just call the cadet pilots students? I don't know I'm only speculating there.

Also Atlantique are effectively giving you 70k, so they may be able to impose whatever conditions they like.

If there is someone with a more informed opinion than that please post it.

I also asked if they would make concessions, for example increasing the bond period from 5 to 7 years etc., but this was a no go as well.

B

[drunk_scotsman]

Vee One,

Is the £23k before or after tax?

I assume the £12k goes straight to the nice people at HSBC?!

Also how much do you think allowences / duty pay would come to p/a ?

Thanks for the help!

[Vee One...Rotate]

Hi drunk_scotsman,

The £23k is before tax. The £1k p/m is yours to do what you want with - there is no automatic transfer to HSBC.

It's v. hard to guess what allowances etc. will amount to but I've heard a figure of £3-4k p/a being banded about for duty pay as being a reasonable guesstimate. This is, again, before tax and the tax arrangements with duty pay are slightly different to those with your normal salary.

If you sit down and do the numbers you'll find that the first-year take-home pay will be the EQUIVALENT of a gross salary of £44k (ish) p/a.

DISCLAMER: Please remember that all of the above is based on the deal for last year's scheme - it may not necessarily be the same this time around!

V1R

[Commando Dan]

'New OAT' Loan Security

With regards to having to secure a loan against your house etc... the following is in the FAQ section on the OAT website.

***
How quickly could I obtain a bank loan and what guarantees would I need to offer?

Under the special programme, a loan can be authorised within 6-8 weeks. For UK residents, full security will not be necessary, but the equivalent to a ‘parental guarantee’ will be required by the bank.

***

Does anyone know what a 'Parental Guarantee' entails if, quote, 'full security will not be necessary'?
Does this mean I have to ask my dad promise HSBC i will pay it back?

And is this a different loan arrangement to the Previous NetJets sponsorship scheme?

Cheers, D

[thefunky1]

A parental guarantee is just that, it means that you require your parents (normally although others can do it) to guarantee your financial liability.

The effect of this is that if for whatever reason you cannot make the repayments the bank has a legal right to require your guarantor to cover your libability, in short it gives them someone else to sue.

[link_142]

hi,

so has anyone else succesfully made it through to stage 2? any apt/psychometric tests books i can buy tp prepare? any help pls thanks

[Commando Dan]

Cheers,

I thought it would be something like that

[Davey2C]

Here are the pay scales after you finish your training.

Thomas Cook- First Officer and Senior First Officer

First Year
£33,551
Second Year
£35,898
Third Year
£40,205
Fourth Year switch to SFO pay scale
£46,220


Plus allowances



British Airways SSP First Officer

First Year
£28,281
Second Year
£33,400
Third Year
£38,922
Fourth Year
£44,753
Fifth Year
£50,891
Sixth Year
£52,604
Seventh Year
£54,317


Plus allowances



NetJets Europe Cadet Programme Salary

First Year Salary
€36,500
Training Reimbursement
€20,000
Per Diem 200 days less 22 holidays
€12,460
Extra Salary for 6 optional days
€4,200
Extra per diem
€420


NB: NetJets offers annual cost of living adjustments of 3-4% and loyalty payments after three years.

[General Zod]

i'd imagine that those salries are for direct entry, experienced FOs -not brand new ex-cadets

[dlav]

With BA, I think combined flight/duty pay expect to add an extra 5K to that figure, from what I hear.

dlav

[Gingerbread Man]

Originally Posted by Adios

The NetJets programme seems to have the best pay at around £50K before tax and just over £40K after tax.

I saw this written on the OAT forum by one of their training team, and thought "pffft" because it seemed completely wrong. How can you get away with so little tax? The govt tax calculator says you'll have £35k with an income of £50k.

[dlav]

I agree, it certainly does seem unusally high........

[redsnail]

Have they included the per diems?

[BusinessMan]

It may be because for people on the OAT/NJE scheme, 20k euros of salary for the first 5 years is tax free because it is classed by the HMRC as "repayment of training expenses". The fact that you may not need to have borrowed anything to do the course is irrelevant - it is a tax break that the UK Revenue allow if you have a job signed up prior to forking out for the training necessary for it (hence 5yrs x 20keuros = c.66k sterling, ie cost of OAT course). One little bonus that the self-sponsored guys & girls will always miss out on sadly.

I think you may be right RedSnail regarding the per-diems; OAT included them in the presentation I saw on it all, though I haven't seen the exact numbers they're talking about here.

[Superpilot]

Anyone over the age of 25 actually make it on to the NetJets scheme?

[hollingworthp]

Superpilot - the average age first time around was 25 (I am 29 and possibly the oldest) and the average age this time around is 27.

[Potential]

Hollingworthp, how do you know that the average age of the NetJets cadets is 27? I followed the last selection on the OAT forum but it is practically dead this time around. Have the successful candidates been named already?