Those considering Emirates
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Hey Cereb,
stop spending your didums down at the yorke. Didnt you just get about 120Grand in the bonus.(70Grand if you are an F/O.) Not bad. I dont think you can completely rubbish the pay here,especially if you come from 90% of the other countries that think the wage here is pretty good.
stop spending your didums down at the yorke. Didnt you just get about 120Grand in the bonus.(70Grand if you are an F/O.) Not bad. I dont think you can completely rubbish the pay here,especially if you come from 90% of the other countries that think the wage here is pretty good.
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120 and 70 grand in which currency? Dirhams?
To everyone who writes positively about EK and is happy and satisfied with the the benefits there, especially the pensions fund, I really wish you would just come out and say (or at least send me a private message with an oath that I won't tell) how much money you have in your account after the number of years you've been there. I just would like to get a good idea of how much I could actually make, and get both sides of the story. All i see is the repetitive post of one or two persons that claim they have $75 000 after 7 years and others that say they're happy with their pension but won't say how much that is. I get it, it's a private matter, but for the sake of information. Please.
I can see how somebody that didn't invest their pension money in anything didn't have any significant return so therefore they're just sitting with their vested and contribution money in their account, but just how much does somebody that did the most they can with their pension fund have in their account after, let's say 5, 7, or 9 years, or any other number of years?
To everyone who writes positively about EK and is happy and satisfied with the the benefits there, especially the pensions fund, I really wish you would just come out and say (or at least send me a private message with an oath that I won't tell) how much money you have in your account after the number of years you've been there. I just would like to get a good idea of how much I could actually make, and get both sides of the story. All i see is the repetitive post of one or two persons that claim they have $75 000 after 7 years and others that say they're happy with their pension but won't say how much that is. I get it, it's a private matter, but for the sake of information. Please.
I can see how somebody that didn't invest their pension money in anything didn't have any significant return so therefore they're just sitting with their vested and contribution money in their account, but just how much does somebody that did the most they can with their pension fund have in their account after, let's say 5, 7, or 9 years, or any other number of years?
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Oh and this is for the Delta pension post:
Info is off of airlinepilotcentral. I don't know how accurate it is, but it's a 100% accurate about my airline.
401K:
yes401k Matching:
2% (DAL contribution; no pilot match required)A/B Fund:
none/9%Other:
Profit sharingInfo is off of airlinepilotcentral. I don't know how accurate it is, but it's a 100% accurate about my airline.
Join Date: May 2008
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Did I miss that the majors are hiring???
For those comparing Emirates to Delta, NW, United, Continental etc.......did I miss somewhere that these companies are hiring or will be hiring anywhere in the near future? From what I hear in the states these companies will and are laying off employees. There is no projected growth at these companies. Many friends at these companies have been furloughed after 9/11 and now they are called back there and still sit at the bottom of a seniority list with no hope for upgrade in the next 10 years. They also worry they will be layed off in the fall. So what Emirates has to offer is job stability, a pay check, the potential for profit sharing, a quick upgrade on the best planes in the sky, and by the way they are HIRING. Good luck getting a job at a US company right now. As far as I know only Netjets is hiring but they have over 10,000 qualified applicants on file. I am not saying you should ever leave a major US airline for Emirates, but if you are at other carriers with the potential for furlough, no hope for upgrade, and pay cuts eminant then Emirates is a great option. As far as saving money run the numbers yourself. Make a budget, take into account all your expenses and see what you will save. Make sure to put in an "other" category on the budget that has some extra money for unforeseen things. Also until you make captain at EK I suggest no American Schools for your kids and no maid. By cutting those two things out you can save about $2,500 a month right there. Those not saving money usually are paying extra for the maid and American Schools. American Schools for 3 kids runs about $2,000 a month for primary age kids. The Intl. and British schools will provide a great education and most US colleges (except maybe Ivy League) do not care which school your kids go to. Anyway, when the majors do start hiring maybe 5 years from now if you go to Emirates now then you will have wide body Captain time and if you hate Dubai then you leave. If you love it and stay , then with some budgeting and commitment to saving you will retire early 20 years down the road with enough money in the bank to do so.
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10 years in the company and my provident fund is 110.000 US$, ok you can blame me for bad investing now, but show me one who made MUCH more.
how long can I live on that after I retire? well a long time in india or somalia, but not so long in a the US, forget europe.
dont know why the average EK pilot always brags about his income, is it to justify his decision to himself or his buddys back home?
I am not writing that to keep anybody from joining EK, because nobody will listen anyway, but I love it when I fly with them after they have been here for a year, I just tell them what I've been told years before "shut up or leave"
how long can I live on that after I retire? well a long time in india or somalia, but not so long in a the US, forget europe.
dont know why the average EK pilot always brags about his income, is it to justify his decision to himself or his buddys back home?
I am not writing that to keep anybody from joining EK, because nobody will listen anyway, but I love it when I fly with them after they have been here for a year, I just tell them what I've been told years before "shut up or leave"
Join Date: Jun 2006
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Kool Aid Drinkers
Keep drinking the Kool Aid fellows. We all know you are trying to justify why you left your home country to come to the sand. Money might be comparble or even better depending on which airline you can from but you can not put a price on quality of life or happiness.
By cutting out the American schools and the maids you are depreving you and your family of two of the basic joys of actually living in the sandbox. Why deprive yourself anymore than you have to. What is next you are not going to eat out either to save money.
If it is so much better in the sand why does not EK have all kinds of apps from all kinds of airlines. By the management own admission they are only getting 100 apps a week and they are from the commuter pilots and we all know how depserate they are. No widebody pilots or top tier airline pilots are comiing.
By cutting out the American schools and the maids you are depreving you and your family of two of the basic joys of actually living in the sandbox. Why deprive yourself anymore than you have to. What is next you are not going to eat out either to save money.
If it is so much better in the sand why does not EK have all kinds of apps from all kinds of airlines. By the management own admission they are only getting 100 apps a week and they are from the commuter pilots and we all know how depserate they are. No widebody pilots or top tier airline pilots are comiing.
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Gortex
Okay, as you've asked.
$119,000 and exactly 5 years here. You and Cerbus might want to consider using the C fund if you want your PF to grow. Far wider selection of funds, all of which are available to joe public. Some of these funds have produced excellent returns. I stick in 12% every month and only started 2 years ago. I also arrange at least 1 meeting a year for financial recommendations, some of which I take, some not.
Like you, i'm no expert so rely on dollar cost averaging and am looking at a 15 year minimum investment time with a versified portfolio of funds. Another alternative is to send the missus out to sell a few Dubai villas. Now that would boost your Provident Fund!
Okay, as you've asked.
$119,000 and exactly 5 years here. You and Cerbus might want to consider using the C fund if you want your PF to grow. Far wider selection of funds, all of which are available to joe public. Some of these funds have produced excellent returns. I stick in 12% every month and only started 2 years ago. I also arrange at least 1 meeting a year for financial recommendations, some of which I take, some not.
Like you, i'm no expert so rely on dollar cost averaging and am looking at a 15 year minimum investment time with a versified portfolio of funds. Another alternative is to send the missus out to sell a few Dubai villas. Now that would boost your Provident Fund!
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monek,
you said it, you put your own money in, I just put the company money in, cos we are talking about a pension from EK.
of course if I invest 500.000 in the C account from my own money, I would have 610.000, but thats is not a pension, you compare dates and camels here.
you said it, you put your own money in, I just put the company money in, cos we are talking about a pension from EK.
of course if I invest 500.000 in the C account from my own money, I would have 610.000, but thats is not a pension, you compare dates and camels here.
Join Date: Aug 2003
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$75,000 after 7 years is a little low - I see about 85,000.
Managed funds on average return about 4% after fees. Those who see a significantly higher (or lower!) return are usually the beneficiary of currency movements - ie my European fund has done well.
It's a fair scheme but you'll have to stay for 30 years for it to be useful for your retirement. Which sort of makes sense if you think about it.
On another note applications rose dramatically after the profit share was announced. So that worked - no need for large salary increase now...!
Managed funds on average return about 4% after fees. Those who see a significantly higher (or lower!) return are usually the beneficiary of currency movements - ie my European fund has done well.
It's a fair scheme but you'll have to stay for 30 years for it to be useful for your retirement. Which sort of makes sense if you think about it.
On another note applications rose dramatically after the profit share was announced. So that worked - no need for large salary increase now...!
Join Date: Oct 2004
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Jeez guys, what have you been doing?
135,000USD after 7 1/2 years. It's not that hard if you swap funds around a bit as the world economy goes through its different cycles.
135,000USD after 7 1/2 years. It's not that hard if you swap funds around a bit as the world economy goes through its different cycles.
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Gortex
I take your point but being apathetic to the problem is hardly helping your cause. I knew from doing the maths when I joined that to receive anything worthwhile would require further investment. The C fund is a vehicle to achieve that.
My salary affords a good standard of living and the amount left over is invested. What we all invest our 'left overs' into is up to us as individuals, based on attitude to risk and goals. Join the gold rush into Dubai property maybe or how about a safe but paultry 2% in the greedy local bank?. Or you could always send it home with a crap exchange rate.
Whatever you do, what i'm not prepared to do, is come back here in another ten years and complain that my PF fund is only worth $150,000 after a total of 20 years because I wasn't prepared to invest some of my own tax free salary.
You pays your money and takes your choices in this life. Camels, dates, call it what you like but at the end of the day it's your pension, not EK's.
BYMONEK
I take your point but being apathetic to the problem is hardly helping your cause. I knew from doing the maths when I joined that to receive anything worthwhile would require further investment. The C fund is a vehicle to achieve that.
My salary affords a good standard of living and the amount left over is invested. What we all invest our 'left overs' into is up to us as individuals, based on attitude to risk and goals. Join the gold rush into Dubai property maybe or how about a safe but paultry 2% in the greedy local bank?. Or you could always send it home with a crap exchange rate.
Whatever you do, what i'm not prepared to do, is come back here in another ten years and complain that my PF fund is only worth $150,000 after a total of 20 years because I wasn't prepared to invest some of my own tax free salary.
You pays your money and takes your choices in this life. Camels, dates, call it what you like but at the end of the day it's your pension, not EK's.
BYMONEK
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Yeah......I guess we don't have a penson fund here. Its a provident fund. Go figure.....
I don't believe many people(including myself) understand the difference. The fact is most employers these days are moving to "total cost of employment" packages. They give you a certain amount of loot for doing the job and you decide how you want to split it in terms of spending money and reirement benefits.
At EK they have made the decision for us, although you can put in more through the C fund. The end of service benefit is like an insurance if you like. After 7 years you get the full company contribution(I think its 7?). If you managed to screw it up and lose most of the money through bad selection of funds then they will step up and give you at least the EOS benefit amount.
I personally wish they would ditch the PF altogether and just give me the cash. Time to get real guys, you are not going to walk away with millions like an american pilot
........the PF here may not be the best in the world but it is certainly not "non existent" as implied by some people and is probably better than most.
I don't believe many people(including myself) understand the difference. The fact is most employers these days are moving to "total cost of employment" packages. They give you a certain amount of loot for doing the job and you decide how you want to split it in terms of spending money and reirement benefits.
At EK they have made the decision for us, although you can put in more through the C fund. The end of service benefit is like an insurance if you like. After 7 years you get the full company contribution(I think its 7?). If you managed to screw it up and lose most of the money through bad selection of funds then they will step up and give you at least the EOS benefit amount.
I personally wish they would ditch the PF altogether and just give me the cash. Time to get real guys, you are not going to walk away with millions like an american pilot
........the PF here may not be the best in the world but it is certainly not "non existent" as implied by some people and is probably better than most.
Last edited by Kennytheking; 14th Jun 2008 at 05:45. Reason: spelling
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Uplock, unfortunately you are dreaming. The days of final salary pension schemes are well and truly over in the UK and the rest of Europe and, I imagine, in America as well. The pension/provident fund (I don't know the difference either, but I think a pension fund has to be used to buy and annuity when you retire- a provident fund you just get the cash to do with as you will. I'd rather have a provident fund thanks.) isn't the best in the world but it is no worse than I had in the UK.
Bymonek and Kenny are right, in the 21st century no company really cares what happens to its employees when they retire but Emirates at least gives us free financial advice and an opportunity to pay more into the provident fund if we want to. If we choose not to take that advice I don't see how we can then complain that the provident fund is rubbish.
Bymonek and Kenny are right, in the 21st century no company really cares what happens to its employees when they retire but Emirates at least gives us free financial advice and an opportunity to pay more into the provident fund if we want to. If we choose not to take that advice I don't see how we can then complain that the provident fund is rubbish.
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ladies,
please dont call it pension if you put your own money in, call it saving instead.
a company pension is paid by the company and not by the employee.
please dont call it pension if you put your own money in, call it saving instead.
a company pension is paid by the company and not by the employee.
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Kenny the King, Im so glad you noticed.
I'll say it again. The point of this thread started by AC was to educate people like us who might have at one time been considering to come to the middle east about the possible negatives. But then those negatives are in the eye of the beholder arent they. If your so happy with what you have there, good for you. When its time to hand out raises, you can stay home and say no thanks. Everyone is interested in making their lot better...how can you do that if there is no one to talk to about it? You going to just accept what the company tells you? Dont be foolish...
By the way, my company, like yours is not too bad. But it has its issues as well. Alot of us are simply researching to see if there Dubai is really the paradise people like you talk about. You have your right to talk about it..and AC has his. Im much more appreciative of AC's candidness than your blind happiness.
Everyone knows Emirates is a descent job, but wouldnt it be amazing if it...
-Had a cash payment pension plan on an ongoing basis....like Cathay!
-Had a continuous seniority based bidding system....
-Had better duty time rules...
-Had better sick day rules and pay... (its beyond me that a company doesnt pay for a quota of sick days like every company and that you defend this! This is a basic human right! Everyone gets sick on occasion. You know Fatigue is sickness also.... and I need those sick days for this reason occasionally...especially after debating with you!
-etc etc!
Talking about theses things on a forum like this is productive because it gets people knowing what their getting into...and gets people talking. That in turn puts pressure on companies to improve conditions.
If AC is so dumb, then why do I have to explain this concept to you? I say it again, thanks AC for giving us the goods.
Here's a good one, I know of 2 people that left a company and gave up a seniority no. to go to Emirates, then after 1 year they both quit and went back to their first comany to rejoin at the bottom of the list again. That speaks volumes and is categorical and irrefutable FACT that what AC is talking about is true.
Finally....if your so happy Kenny, why are you surfing PPRUNE? Surfing for a job (nope), or just have no life? Or just too hot outside to enjoy your nice Villa?
Orange
I'll say it again. The point of this thread started by AC was to educate people like us who might have at one time been considering to come to the middle east about the possible negatives. But then those negatives are in the eye of the beholder arent they. If your so happy with what you have there, good for you. When its time to hand out raises, you can stay home and say no thanks. Everyone is interested in making their lot better...how can you do that if there is no one to talk to about it? You going to just accept what the company tells you? Dont be foolish...
By the way, my company, like yours is not too bad. But it has its issues as well. Alot of us are simply researching to see if there Dubai is really the paradise people like you talk about. You have your right to talk about it..and AC has his. Im much more appreciative of AC's candidness than your blind happiness.
Everyone knows Emirates is a descent job, but wouldnt it be amazing if it...
-Had a cash payment pension plan on an ongoing basis....like Cathay!
-Had a continuous seniority based bidding system....
-Had better duty time rules...
-Had better sick day rules and pay... (its beyond me that a company doesnt pay for a quota of sick days like every company and that you defend this! This is a basic human right! Everyone gets sick on occasion. You know Fatigue is sickness also.... and I need those sick days for this reason occasionally...especially after debating with you!
-etc etc!
Talking about theses things on a forum like this is productive because it gets people knowing what their getting into...and gets people talking. That in turn puts pressure on companies to improve conditions.
If AC is so dumb, then why do I have to explain this concept to you? I say it again, thanks AC for giving us the goods.
Here's a good one, I know of 2 people that left a company and gave up a seniority no. to go to Emirates, then after 1 year they both quit and went back to their first comany to rejoin at the bottom of the list again. That speaks volumes and is categorical and irrefutable FACT that what AC is talking about is true.
Finally....if your so happy Kenny, why are you surfing PPRUNE? Surfing for a job (nope), or just have no life? Or just too hot outside to enjoy your nice Villa?
Orange
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Triple nickel orange you are right on with your posting. I believe there are company Kool Aid drinkers maybe paid by the company or at least strongly encourged to get on pprune and refute all "negative" postings. Negative and truth might be sonomus in Emirates view, you know how they are. They will do whatever to get to the top.