EK payrise and profitshare!!
Thread Starter
Joined: Nov 2003
Aviation Qualifications: ATP+Mil
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From: Terra Firma
EK payrise and profitshare!!
Hey good news at last with the details coming out finally from RuMouR control to almost factual control, about the impending cash handout. A lot better than you would have imagined, should make nearly enough to pay for....>
Joined: Feb 2000
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From: Bit nosey aren't you
I had it straight from the HR head at a specially arranged pilots party last night. After we had all been presented with a free bottle of Krug and some Rolexes it was time for the big announcement. We will get 50% plus 20 weeks profit share. For the single guys, they will be given a personal beauty queeen to shag and the married guys will get a $10k/annum plastic surgery allowance to update the missus.
Didn't we do this last year. I sat at a pilot meeting and was guaranteed by all players that it would be a minimum of 20%;... we got nothing. I remember when the rest of the company was given 5% in 2001 we got 2%+our contractural increment.
What has changed? Well they have cut a potential 50k/year out of a Captains's salary/year by frigging with the credit system which they could re-instate. Also, the rumour is Etihad are getting an increase on their already better salary. In addition recruitment is becoming more of a struggle and we have a zillion Trips arriving. So that means we must get at least.......its not worth wasting any heart beats speculating!
Didn't we do this last year. I sat at a pilot meeting and was guaranteed by all players that it would be a minimum of 20%;... we got nothing. I remember when the rest of the company was given 5% in 2001 we got 2%+our contractural increment.
What has changed? Well they have cut a potential 50k/year out of a Captains's salary/year by frigging with the credit system which they could re-instate. Also, the rumour is Etihad are getting an increase on their already better salary. In addition recruitment is becoming more of a struggle and we have a zillion Trips arriving. So that means we must get at least.......its not worth wasting any heart beats speculating!
Joined: Jun 2004
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From: Idaho
Whatever smoke and mirror tricks are employed between now and April, I would bet that by this time next year our package will be worht less than it is today.
This isn't based on any 'inside' information, just observations on what has happened in the past.
This isn't based on any 'inside' information, just observations on what has happened in the past.
Joined: Nov 1999
Posts: 24
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Whooaa!!!
Gees Jack! I think that a switch to decaf would be in order!
Latest from the rumour mill is no more allowances, all to be issued with a debit card for nightstops. Check with IFS, they will tell you about it (after all they do curry a lot more influence than Flight Ops around here).
BTW, did note with interest that there was not a single EK pilot at the A380 roll out.
Latest from the rumour mill is no more allowances, all to be issued with a debit card for nightstops. Check with IFS, they will tell you about it (after all they do curry a lot more influence than Flight Ops around here).
BTW, did note with interest that there was not a single EK pilot at the A380 roll out.
Joined: Oct 2000
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From: Dubai U.A.E.
Jack, my dear boy
Having read your post I have come to the following conclusions.
Either:
A) You are bored with reading the same old stuff on this forum and need to wind things up a bit for the entertainment of all or:-
B)There must have been some really good stuff in the Sheesha this Eid.
If your post is not in jest then may I suggest a visit to the EK clinic and a long course of reallity injections administered at regular intervals until your condition improves.
Eid Mubarak
Having read your post I have come to the following conclusions.
Either:
A) You are bored with reading the same old stuff on this forum and need to wind things up a bit for the entertainment of all or:-
B)There must have been some really good stuff in the Sheesha this Eid.
If your post is not in jest then may I suggest a visit to the EK clinic and a long course of reallity injections administered at regular intervals until your condition improves.
Eid Mubarak
Thread Starter
Joined: Nov 2003
Aviation Qualifications: ATP+Mil
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From: Terra Firma
Thankyou PITA for enhancing my thread with the newspaper facts.
EK to make record profit
Last years 10 weeks was well received although some RuMours say that they said, keep 6 weeks back and then a further 2, when fuel price hikes kicked in. So as this is another record year that would make more than the much talked of 4 weeks to come.
EK to make record profit
Last years 10 weeks was well received although some RuMours say that they said, keep 6 weeks back and then a further 2, when fuel price hikes kicked in. So as this is another record year that would make more than the much talked of 4 weeks to come.
Joined: Jun 2004
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From: Idaho
A record profit does not even come close to guaranteeing profit share.
I cant remember what the target was, but it was something like twice last years "record" profit. So we may well beat last years profit making another "record", but could still fall well short of the profit share target.
You wont know until 30th of april.
I cant remember what the target was, but it was something like twice last years "record" profit. So we may well beat last years profit making another "record", but could still fall well short of the profit share target.
You wont know until 30th of april.
Joined: Jul 2001
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From: Gulf playing Golf
Yep. Two weeks.
From 2003 to 2004 the target was increased 25% ( 1.0 Bill. to 1.25 bill). From 2004 to 2005 it increased 100% (1.25 bill to 2.5 bill).
Just take the money and say Thanks! because you will never know the truth
From 2003 to 2004 the target was increased 25% ( 1.0 Bill. to 1.25 bill). From 2004 to 2005 it increased 100% (1.25 bill to 2.5 bill).
Just take the money and say Thanks! because you will never know the truth
Joined: Jul 2001
Posts: 1,140
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From: Gulf playing Golf
Well. Look at it this way. You have no influence on that money coming or not. The money is given, not because someone loves you. It is given so that they can signal success, in the eyes of the competions and their peers.
Take the doe and buy your kids a hotdog...and say Shukran
Take the doe and buy your kids a hotdog...and say Shukran
Joined: Jun 2004
Posts: 148
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From: ME
PS:
Ofcourse you are right.
The profit share is not, as it appears, some 'gift' from a benevolent benefactor given in 'gratitude' for all the hard work and sacrifices made by all the staff throughout the year. Instead it has become in lieu of a proper payrise needed to off set the increase in inflation and other cut backs and changes in T&Cs which have taken money out of the monthly paycheck.
Rightly or wrongly, many rely on this annual ritual to pay off debts accrued throughout the year due to a p#ss poor basic wage.
Shukran?
Instead of waiting every year by the Masters table waiting to see what scraps he sees fit to throw down, couldn't we just get a decent, reliable pay structure sorted out? TCAS knows the sort...but those days are over, aren't they?
Ofcourse you are right.
The profit share is not, as it appears, some 'gift' from a benevolent benefactor given in 'gratitude' for all the hard work and sacrifices made by all the staff throughout the year. Instead it has become in lieu of a proper payrise needed to off set the increase in inflation and other cut backs and changes in T&Cs which have taken money out of the monthly paycheck.
Rightly or wrongly, many rely on this annual ritual to pay off debts accrued throughout the year due to a p#ss poor basic wage.
Shukran?
Instead of waiting every year by the Masters table waiting to see what scraps he sees fit to throw down, couldn't we just get a decent, reliable pay structure sorted out? TCAS knows the sort...but those days are over, aren't they?
Joined: Mar 2003
Posts: 768
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From: Dubai
As long as senior management get a higher profit share than the rest of us mere mortals, then we will never get a decent pay rise. Allegedly, VP's get double and SVP's get 4x profit share, no idea about EVP's and above. So if you could have been promoted to SVP last year you would have got 48 weeks! This is a great incentive to cut costs, wages, allowences and maybe even corners.
Last edited by ruserious; 8th February 2005 at 18:13.
Thread Starter
Joined: Nov 2003
Aviation Qualifications: ATP+Mil
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From: Terra Firma
Shake, good homework on your behalf. You will have to study harder in the future, your postings are almost factual! Pse see your PM BOX.
Jack Shidt OUT!
Jack Shidt OUT!
Last edited by jack schidt; 8th February 2005 at 20:13.
Joined: Sep 2000
Posts: 244
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From: Camelot
It's all creative accounting as ussual.
IT GOES LIKE THIS
Set an IMPOSSIBLE target,
Don't achieve that target,
Pay 2 weeks bonus (because we care and we're such good guys),
Pocket the cash....
Next year double the target!
IT GOES LIKE THIS
Set an IMPOSSIBLE target,
Don't achieve that target,
Pay 2 weeks bonus (because we care and we're such good guys),
Pocket the cash....
Next year double the target!
Joined: Jan 2004
Posts: 316
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From: Luton
Four weeks profit share maximum.
No increase to basic salary levels, despite the annual 'review.'
We will be 'awarded' the step increment and move up one step on the scale (unless you are on a disciplinary charge!)
No increase to utilities allowance, again despite an annual 'review'
No change to the new bidding system.
An increase increase in workload across the fleets.
No two way communication between senior management and pilots.
Direct Entry Captains will continue to be employed despite the highly suitable FOs already here.
Nothing will change for the forthcoming year that will make us all say "Fantastic!!'
Go on, tell me I'm wrong.....
No increase to basic salary levels, despite the annual 'review.'
We will be 'awarded' the step increment and move up one step on the scale (unless you are on a disciplinary charge!)
No increase to utilities allowance, again despite an annual 'review'
No change to the new bidding system.
An increase increase in workload across the fleets.
No two way communication between senior management and pilots.
Direct Entry Captains will continue to be employed despite the highly suitable FOs already here.
Nothing will change for the forthcoming year that will make us all say "Fantastic!!'
Go on, tell me I'm wrong.....