EK Profit Share....
Joined: Sep 2005
Posts: 329
Likes: 1
From: Europe
Shall I cut and past my post from April 9th again? Here we go:
"
I'm betting on a BIG bonus (even close to 16 weeks) and only a marginal pay increase (maybe 5-10%). By far the cheapest formula for EK: 1 time expenditure, no risks for the future and most of the skippers are blinded by a bonus....
Zero impact on pensions, future pay....AND they can attract huuuge crowds with this big carrot...
Some senior skippers may jump the ship now but I think EK doesn't care so much. They only work big numbers and most of us are stuck here anyway (at least for a while).
They set to the tone with the rosters last february.... right?
They are very very clever."
Now get ready for 5 to 10% pay rise. Wait and see....
Remember they are more clever than you....
"
I'm betting on a BIG bonus (even close to 16 weeks) and only a marginal pay increase (maybe 5-10%). By far the cheapest formula for EK: 1 time expenditure, no risks for the future and most of the skippers are blinded by a bonus....
Zero impact on pensions, future pay....AND they can attract huuuge crowds with this big carrot...
Some senior skippers may jump the ship now but I think EK doesn't care so much. They only work big numbers and most of us are stuck here anyway (at least for a while).
They set to the tone with the rosters last february.... right?
They are very very clever."
Now get ready for 5 to 10% pay rise. Wait and see....
Remember they are more clever than you....
Joined: Sep 2005
Posts: 56
Likes: 0
From: Dublin
Does anyone know if there will be deductions from this bonus? For example: I contribute to the provident fund 'C' account.
Can I expect my 10%contribution to this account to be deducted from the bonus check?? Anyone in the know???
Likewise... Is the standard A (12%) + B (5%) account deductions applicable as well?
Just trying to figure out how many Russian ho@#ers I can factor into the equation...
Can I expect my 10%contribution to this account to be deducted from the bonus check?? Anyone in the know???
Likewise... Is the standard A (12%) + B (5%) account deductions applicable as well?
Just trying to figure out how many Russian ho@#ers I can factor into the equation...
Joined: Aug 1998
Posts: 773
Likes: 1
From: the ridge where the west commences
grab a calculator...
multiply your monthly salary by 12, divide by 52, multiply by 14. This is the amount that will appear on your May paycheck. To the dirham.
Sorry to dissapoint the conspiracy theorists but that is about as arcane as it gets.
Sorry to dissapoint the conspiracy theorists but that is about as arcane as it gets.
Joined: Jun 2005
Posts: 1,034
Likes: 2
From: MIDDLE EAST
Yankee
C'mon buddy and get yer !!!! together. Profit share is an added bonus to what would be a normal months salary. It's based on BASIC salary. No deductions from this, no ERP added, no fund C contributions, no training allowance, no education deductions................. What you do with your 14 weeks is up to you.
I guess the Ruskies are waiting...........................
Harry
C'mon buddy and get yer !!!! together. Profit share is an added bonus to what would be a normal months salary. It's based on BASIC salary. No deductions from this, no ERP added, no fund C contributions, no training allowance, no education deductions................. What you do with your 14 weeks is up to you.
I guess the Ruskies are waiting...........................
Harry
Joined: Dec 2000
Posts: 444
Likes: 0
From: The Beach
The Master throws his loving hunting dogs a morsel of the bag, now they will roll over and let him tickle their tummy's...again.
Lets see profit $1.48 billion prophet.
thats $1,480,000,000
We get roughly $50,000,000 split between 1800 ish pilots. about 0.3%.
Not knocking it, in fact I am absolutely delighted , but don't be blinded by the number 14.
It probably just about makes up for last year, and the previous cost neutral changes, never mind the year before that
And as the previous post, big headline, small cost, attract the fools blinded by the pot of gold , trap them and voilà ..no need to pay big for a couple of years again..
Call me a cynical barstewrd if you like, lets see if spending 14 weeks will put a smile on my face...
Lets see profit $1.48 billion prophet.
thats $1,480,000,000We get roughly $50,000,000 split between 1800 ish pilots. about 0.3%.
Not knocking it, in fact I am absolutely delighted , but don't be blinded by the number 14.
It probably just about makes up for last year, and the previous cost neutral changes, never mind the year before that
And as the previous post, big headline, small cost, attract the fools blinded by the pot of gold , trap them and voilà ..no need to pay big for a couple of years again..
Call me a cynical barstewrd if you like, lets see if spending 14 weeks will put a smile on my face...
Joined: Jun 2007
Posts: 136
Likes: 0
From: Dubai
Some people will just never be satisfied.
Indeed, and I thought that the mosquitos thread was bad enough.
There are airlinesclosing down and we complain because we've got 14 weeks of basic salary.
SIMPLY ENJOY IT AND THANK THAT YOU HAVE A SECURED JOB, YOU'LL KNOW WHAT TO DO OTHERWISE !!!!
Indeed, and I thought that the mosquitos thread was bad enough.
There are airlinesclosing down and we complain because we've got 14 weeks of basic salary.
SIMPLY ENJOY IT AND THANK THAT YOU HAVE A SECURED JOB, YOU'LL KNOW WHAT TO DO OTHERWISE !!!!
Joined: May 2005
Posts: 563
Likes: 0
From: Earth
I wouldn't be surprised if this was the last year that the bonus is awarded, anyone seen the target for next year??
Sorry to piss on peoples bonfires but as far as I'm concerned if you split the bonus up into 12 months then added it to your salary then that's about what we should be getting paid wrt inflation in Dxb etc. So, no, I'm not excited at all, I just feel that we have now earned a fair salary amount for the last 12 months.
Another thing, the '05, '06, & '07 bonuses where a crock of s**t, this one is the first one in recent years to POSSIBLY reflect the truth, and I guarentee you that once they have sucked in a load of pilots over the next few months, that next years bonus (If there is one) will be pitiful.
There is only one reason that the bonus was half decent this year and that was to attract fresh meat to the grinder, I don't think many of the existing pilots/staff are fooled by the politics of this.
.....I'll get me coat then
Sorry to piss on peoples bonfires but as far as I'm concerned if you split the bonus up into 12 months then added it to your salary then that's about what we should be getting paid wrt inflation in Dxb etc. So, no, I'm not excited at all, I just feel that we have now earned a fair salary amount for the last 12 months.
Another thing, the '05, '06, & '07 bonuses where a crock of s**t, this one is the first one in recent years to POSSIBLY reflect the truth, and I guarentee you that once they have sucked in a load of pilots over the next few months, that next years bonus (If there is one) will be pitiful.
There is only one reason that the bonus was half decent this year and that was to attract fresh meat to the grinder, I don't think many of the existing pilots/staff are fooled by the politics of this.
.....I'll get me coat then
Joined: Jun 2006
Posts: 339
Likes: 0
From: Dunesville
Agreed FM.
Also take into account we have to cost cut to the tune of $100 million, added competition on routes and that most of us would like to avoid the amount of work it took to get this years share, next years will be much lower.
It was also a possible prelim to a floatation so it had to look good.
Also take into account we have to cost cut to the tune of $100 million, added competition on routes and that most of us would like to avoid the amount of work it took to get this years share, next years will be much lower.
It was also a possible prelim to a floatation so it had to look good.
Joined: May 2005
Posts: 563
Likes: 0
From: Earth
Payscale, I'm not a pessimist, just a Realist, yes I will enjoy the bonus, but I'm afraid that it has been well diluted by the last few years T&C's, inflation and BS 'profit shares' of the last few years.
....and, yes, I know 'if I don't like it I can leave', but i'ts not quite bad enough yet for me to leave
....and, yes, I know 'if I don't like it I can leave', but i'ts not quite bad enough yet for me to leave