OAT Netjets re-opening soon...?
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OAT Netjets re-opening soon...?
For anyone interested, this has just appeared. Looks like a 3rd request for apps this year, shame I'm not eligible!
http://www.oxfordaviation.net/netjets/nj_main.htm
Cheers, BM
http://www.oxfordaviation.net/netjets/nj_main.htm
Cheers, BM
Last edited by BusinessMan; 22nd Oct 2007 at 19:22. Reason: Being wrong!
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The scheme is likely to remain open from early next year as a rolling selection process which should make it easier for those unable to fit into the timescales due to prior commitments / work etc.
Last edited by hollingworthp; 22nd Oct 2007 at 22:15. Reason: Slight correction
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Maybe they want their pilots to have something in common with their customers.
If you take a look at the salary figures, keeping in mind that only 36,500 Euros and 4,200 Euros for working an extra six days are taxable. Run the numbers through a UK tax calculating website. You'll find if you work the extra six days they offer, the after tax compensation including the 70 Euros non-taxable per diem amounts to over £40K sterling.
I doubt that CTC had the capacity to serve NetJets, so the best modular option was off the table. That left Oxford and Cabair as the UK tax benefits are dependent on a UK FTO and bank. They could have gone with FTE, but that probably would have eliminated the UK tax relief and made it more costly.
Ultimately though, you should choose it only because you want to fly private jets, not because the compensation is better than many other tagging and mentoring schemes.
If you take a look at the salary figures, keeping in mind that only 36,500 Euros and 4,200 Euros for working an extra six days are taxable. Run the numbers through a UK tax calculating website. You'll find if you work the extra six days they offer, the after tax compensation including the 70 Euros non-taxable per diem amounts to over £40K sterling.
I doubt that CTC had the capacity to serve NetJets, so the best modular option was off the table. That left Oxford and Cabair as the UK tax benefits are dependent on a UK FTO and bank. They could have gone with FTE, but that probably would have eliminated the UK tax relief and made it more costly.
Ultimately though, you should choose it only because you want to fly private jets, not because the compensation is better than many other tagging and mentoring schemes.
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Reapplication
Does this latest scheme constitute a new recruitment year and more importantly are those ab-initios who failed to progress beyond stage 2 in 2007 eligible to reapply?
Charlie
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tempus fugit
Charlie
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tempus fugit
Last edited by charlie copeland; 23rd Oct 2007 at 08:04. Reason: sp
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NetJets do not pay for the Ab-Initio training or accomodation etc while at OAT.
There is an important tax break for UK residents once you start employment as currently the inland revenue allow NJE to take the €20,000 per year training re-imbursement tax-free. If you are resident elsewhere then you still get the 20k but it will be subject to whatever tax rules apply to those residents.
Also you don't have to pay for your type rating.
Regards
Phil.
There is an important tax break for UK residents once you start employment as currently the inland revenue allow NJE to take the €20,000 per year training re-imbursement tax-free. If you are resident elsewhere then you still get the 20k but it will be subject to whatever tax rules apply to those residents.
Also you don't have to pay for your type rating.
Regards
Phil.
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Still waiting for this scheme to re-open. Checked last night and there was a banner on their site saying to check back at 12pm on 23rd.. Checked today and the banners gone but nothing!.. anyone know what the score is ?
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Quote:
Maybe they want their pilots to have something in common with their customers.
If you take a look at the salary figures, keeping in mind that only 36,500 Euros and 4,200 Euros for working an extra six days are taxable. Run the numbers through a UK tax calculating website. You'll find if you work the extra six days they offer, the after tax compensation including the 70 Euros non-taxable per diem amounts to over £40K sterling.
Hello everyone!,
I have 2 areas to question.
Firstly...should one be so lucky to get onto this scheme, as I understand you pay the course fee accomodation etc etc as you would if you were doing the appfo course yourself at oats.
Do they start to pay you while you are studying/learning to fly?
Whether they do or dont pay you while you are studying, the salary you'll recieve is 36.5K E? But with other bits added this can equate to 40KGBP?
Whats per diem mean?
Thanks for anticpation for your replies!
MB
Maybe they want their pilots to have something in common with their customers.
If you take a look at the salary figures, keeping in mind that only 36,500 Euros and 4,200 Euros for working an extra six days are taxable. Run the numbers through a UK tax calculating website. You'll find if you work the extra six days they offer, the after tax compensation including the 70 Euros non-taxable per diem amounts to over £40K sterling.
Hello everyone!,
I have 2 areas to question.
Firstly...should one be so lucky to get onto this scheme, as I understand you pay the course fee accomodation etc etc as you would if you were doing the appfo course yourself at oats.
Do they start to pay you while you are studying/learning to fly?
Whether they do or dont pay you while you are studying, the salary you'll recieve is 36.5K E? But with other bits added this can equate to 40KGBP?
Whats per diem mean?
Thanks for anticpation for your replies!
MB
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You are not paid until you start indoc in Lisbon after having succesfully completed the full training to the company's satisfaction (around 16-17 months after your training starts).
The net figure is roughly equivalent to 40-42k GBP for UK Residents - however, that does include all of the per-diems and it is HIGHLY likely that you will need to spend some of that money. Per Diem (per day) payments are made to you tax-free to cover all reasonably expenses incured while on duty (i.e. dinner, drinks, laundry etc). The company will pay for bed & breakfast (usually 4 star or better) and will also provide crew meals but you should expect to spend at least some of the 70 euros/day they give you.
Also - the above figure includes 20,000 euros per year tax-free which you will probably be needing to repay the loan you will probably need to take out to finance the 70-75k for the course and the relevent food & accomodation.
Hope that helps.
Phil.
The net figure is roughly equivalent to 40-42k GBP for UK Residents - however, that does include all of the per-diems and it is HIGHLY likely that you will need to spend some of that money. Per Diem (per day) payments are made to you tax-free to cover all reasonably expenses incured while on duty (i.e. dinner, drinks, laundry etc). The company will pay for bed & breakfast (usually 4 star or better) and will also provide crew meals but you should expect to spend at least some of the 70 euros/day they give you.
Also - the above figure includes 20,000 euros per year tax-free which you will probably be needing to repay the loan you will probably need to take out to finance the 70-75k for the course and the relevent food & accomodation.
Hope that helps.
Phil.
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Thanks for a very informative and prompt reply
Thanks for a very informative and prompt reply!
Ive got another question!
Are you bound for an amount of time should one be successful (with netjets)?
Ive got another question!
Are you bound for an amount of time should one be successful (with netjets)?
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NetJets bonds pilots for two years per type rating. Once the cadets finish their first bond, a transfer to the medium/longhaul fleet will be dangled and it will have another two year bond attached. Finish that one and command will be dangled to keep you a few more years. All the while the 20K Euros non-taxable is whacking off your 60K GBP HSBC loan in six years instead of the normal 11. It seems a very compelling programme.
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You sign an employment contract before the course starts which is conditional on satisfactory completion of the training (ATPL / IR scores etc).
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No - I am 29 and the average age in the last two intakes was circa 25/26 and 27/28 respectively.
There are no upper age limits and the only lower limit is stipulated by the education requirements which would probably imply 18,
HTH
Phil.
There are no upper age limits and the only lower limit is stipulated by the education requirements which would probably imply 18,
HTH
Phil.
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damn. i read through the terms of net jets last week, and was under the impression that they only accepted applicants aged 18. and now i've got only a day to finalise a decent responses to the questionairre section. part of me's unsure as to whether now is a good time to reply.
do they take on new candidates yearly? if so, perhaps i should hold off until next eyar, or perhaps until i've finished my degree so as to gain more experience and give myself a better chance of qualifying
decisions, decisions, and not much time to think about them
edit- if they do have a yearly intake, i'd want to give myself the best possible chance of making it through selection. considering you only really get one chance with this scheme, what would people here recommend- should i spend the next year building up experience and knowledge of the industry, and therefore delay my application?
do they take on new candidates yearly? if so, perhaps i should hold off until next eyar, or perhaps until i've finished my degree so as to gain more experience and give myself a better chance of qualifying
decisions, decisions, and not much time to think about them
edit- if they do have a yearly intake, i'd want to give myself the best possible chance of making it through selection. considering you only really get one chance with this scheme, what would people here recommend- should i spend the next year building up experience and knowledge of the industry, and therefore delay my application?
Last edited by equinox_code; 7th Nov 2007 at 15:07.
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You are probably ok - this is the third time this year they have opened the scheme and it is likely to open again early next year.
Obviously no-one can tell you what to do - but my own personal opinion is that it may be beneficial to complete your degree so that you have something to fall back on in the unfortunate instance of losing your class 1 at some point in the future.
You could call OAT and talk to any of the training advisers there for more detailed information.
HTH
Phil.
Obviously no-one can tell you what to do - but my own personal opinion is that it may be beneficial to complete your degree so that you have something to fall back on in the unfortunate instance of losing your class 1 at some point in the future.
You could call OAT and talk to any of the training advisers there for more detailed information.
HTH
Phil.