EK pilots top 5 or 6 highest paid in the world
 

Read this today...almost chocked on my coffee. Quite a long read but the punchline is at the end.

Green...out.

ps: I dídn't know our Engineers were the highest paid in the world!! :confused:
NOT...:ugh:


The Dubai connection


The rise of Emirates airline and of Dubai are, in many ways, the same story. "Emirates' future = Dubai's future" was the first entry on Shaikh Ahmad Bin Saeed Al Maktoum's full-year results slideshow last week.
The airline's chairman and chief executive has a point. The Emirates group had just reported a Dh5 billion net profit - despite the rocketing oil price.
Just as telling is its contribution to the Dubai economy - $12.8 billion or almost a quarter of GDP. Some $6.8 billion of that came indirectly - from the tourists the carrier brings to Dubai's glitzy hotels or the immigrant construction workers flown in to man the world's biggest crane collection.
Such symbiosis partly explains why Emirates has 20 years of unbroken profits, while rivals' results have bounced around like a plane in turbulence.

Emirates and Dubai have built each other. Never blessed with the oil riches of its neighbours, Dubai set out to build a diversified economy for when the black stuff runs out, founded on commerce, tourism and trade.
Launched in October 1985 with two ageing aircraft and $10 million of government backing, Emirates is the cornerstone of that strategy. Such interdependence has its drawbacks too, however. What happens to Emirates if the music stops. Then, having 182 planes on order with a list price of $58 billion, might look a touch hubristic.
Tim Clark is having none of it. President of Emirates, he is one of the two Brits - alongside vice-chairman Maurice Flanagan - who started the airline from scratch.
"People have been asking me that for years," he says. "I don't see the future as being any different to what happened in the past."

No bubble
For starters, he does not buy the Dubai bubble theory, even if GDP growth must eventually slow from the current 16 per cent.
"The building blocks of what Dubai is today are solid," he says. "Foreign investment is coming in in a big way. People are looking for a safe haven, having lost out on sub-prime and the credit crunch. Everybody's here - Goldman Sachs, Merrill Lynch, JP Morgan. They go where the market is, where they sense blood.
"The government has set up a bourse, they have done everything to make sure Dubai is ready for business. Apart from problems finding accommodation and the traffic, everybody here enjoys being here. I've never seen a government facilitate business more than this government."
As the man who built the Emirates' network, Clark has other grounds for confidence. "How are we managing to grow our business when everybody else is reporting profit levels that have gone down or whose rate of growth has come off?" says Clark.
"It's because, strategically, we grew our network into areas that other carriers would not go or did not treat seriously - Africa, large parts of Asia. You go into these areas and you find yields are higher and demand is strong."
There are other factors too. "The aeroplanes we get we work extremely hard. Our unit costs - if you strip out fuel - do not grow at the same pace. We have also spent a lot of money on our brand." As, indirectly, has Dubai tourism.
Around this, Emirates has built its Dubai hub, that melting pot where east-west traffic meets north-south and few destinations are more than eight hours flying time away. Crucially it operates 24 hours a day. Emirates has capitalised, launching some curious routes - a direct service to Newcastle, for example, via which backpacking Geordies can transit to Australia.
One current obstacle is Dubai airport, which handled 36.5 million passengers last year and is as chocka as Heathrow. Not for long. A third terminal opens later this year and a fourth is already under construction. They will push capacity north of 75 million passengers.
That's not the half of it though. Handily, Shaikh Ahmad doubles up as the man responsible for the modestly titled Dubai World Central. This is a $33 billion project to build a new airport at Jebel Ali, with six runways and capacity for at least 120 million passengers a year.

Focus
Says Gary Chapman, president of group services at Emirates: "The only crime in Dubai is not thinking big. We have the benefit of a government that is focused on developing the infrastructure required. We don't have five years of planning permission. The government identifies the need for it and it's going to happen."
Unlike other airlines, Emirates is forced to import its labour, with its 35,000-plus staff drawn from 145 nationalities.
"Our costs are growing all the time unfortunately," says Clark. "Our engineers are the highest paid in the world. Our pilots are in the top five or six. We provide houses, we furnish the houses, we pay the bills. We take our pilots to work in chauffeur-driven cars. These are costs the legacy carriers in Europe don't face."

Wow, TC believes what he's told - it was true in the early days of starting.

We're suppose to be in the top 20, that means we're number 19.

oh god what crap. how about biger pay? they are so full of themseves. :rolleyes:

Hmmm. Top 5 or 6 best paid,eh? Doesn't bode well for the pay review, especially after that lot down the back only got 4%...:ouch:

I just heard that your captains got a 25000 dollar profit sharing check last month.
If that's true you certainly are among the highest paid in the world even though you live in a blast furnace.
Anybody want to know what my profit sharing check was? Anybody? Anybody? Bueller?
320 dollars. Yep. Came in handy at the boozer.
You guys at EK complain too much.

In other parts of the world where you get a similar net salary the employer has to pay almost double to cover the taxes.....hmmm....I guess there are some expenses they do not have to worry about.

Well don't be shy Raas767, come on over and enjoy the lifestyle. If its such a good deal why would you be wasting your time in Florida?:ugh:
Dont you love it when someone from the other side of the world, after hearing stories from some friend of a friend, tells ya how things are!!!!

Don

I'm with ya Don

And I'm a Florida boy as well.

so where did get his statistics again??? :ugh:

If you want some idea of the dream world top management live in, look here http://au.youtube.com/watch?v=iU2BF5IJeQU and disregard the funny English subtitles. Apparently, one recently assured a colleague that they are utterly swamped with suitable pilot applicants, there is no pilot wastage nor training problem, and everything is just hunky dorey.

Now that was funny, seriously funny..

The profit share has for a long time now been used in place of a pay rise. TCK in one of his motivating speeches said it "makes good business sense to keep the sallaries low and award a good profit share during the good years than to pay higher sallaries that effect the bottom line during the bad years" In other words let the employees carry the pain during the bad years... Given that this was a good year, you can guess the rest.

.... :confused: can't belive our smart & cosmopolitian Sheikhy-Boy believes in this (his own) bla-di-bla propaganda-blur - that s WAY OFF reality !!!:bored:

From another thread:

Actual EK 777 Base Salary, without pension added in is 357,000AED.

In comparison starting Captain Salaries USD/HR based on the links below:


Cathay $198
Virgin $190
United $176
Delta $175
Dragon $163
.
.
(EK with Profit Share $157)
BA Short Haul $142
.
.
Emirates (Calculated like all the others) $122

http://askcaptainlim.com/content/category/8/33/78/

http://airlinepilotcentral.com/airlines/legacy.html

That didn't include the EK Profit share but then again, it doesn't include 13 month salaries, profit shares or flying pay, per diem etc etc etc for the other carriers.

If you want to get into that game, you realise where the profit share came from. Just one example, an EK pilot gets $12/hr, VS $52/hr. At 800hrs/yr: EK=$9600, VS=$41600, guess what, the difference is bigger than the EK profit share.

The next thing to be raised will be the tax argument. All I'd say is that it is valid, but so is the argument that you can live where ever you want if you work for say BA/VS. You don't have to live in London or NYC and pay those prices, working for EK there is no choice and living in Dubai is now pretty much eroding many of the tax free gains. If you are lucky with 'free' accommodation, it is a definite plus, if you end up in 'temporary' accommodation in some of the places being offered now a big minus. If you can't stand it and move out, deduct $3k/month from your salary for the cost of your housing over and above your allowance.

So what does all the statistical bunk mean. With the bumper profit share EK came to the table this year but I'll take a bet we don't get the same profit share next year. I'll take a bet we don't match inflation in the medium term. EK is not the worst job in the world but whilst I am still delighted to have got the cash I do not understand why the senior managers feel they can't tell the truth. If it really was such a good deal, the facts would stand alone.

If you join EK based on our profit share, as the financiers say "past performance is not a......." Prepare to be disappointed!

Ghost

The quote was: Now the question is how about them (Top Management)?

Ghostflyer

Thanks for your post - it's probably the best summary of the situation I've read so far. Well done.

I presume your handle refers to how y'all feel after our sweet new rosters with all the frickin' turnarounds in 'em... :\

It's enough
 

I just tallied my last 12 month pay summaries form HR Direct and if I add to that total my profit share and the company contrubitions to the A fund I find I was paid 312,000 USD last year. That figure is cash in hand, not factored for tax environment, not "allowing for x". Cash. In hand.

I happen to think that's OK. I believe any thinking pilot on the planet would agree. Even with a shrunken dollar that still enabled me to live quite comfortably.

Hate to derail the spleen train but I could have made it worse by ending every other dang word with a flippin' apostrophe - and you now that's jes' tiresome, aint it?

Not sure you where you work in EK just had a look at mine as you say 12 months +++ and including the Utilities allowance, Been here just over 10 years Captain did just over 800 hrs last 12 months and mine was $US204,000.
So either you are on some special pay rate or you are talking BS!

Don't take me bad, but $312000.00 a year in EK only if you are in a management position. Having talked to TRE's recently, the highest I heard about was 60,000.00 Dhs a month. If we put 10% on the top of it we'll get to 66,000 X 12 = 792,000 + 105,000 bonus = 897,000 + A account (3,600 X12) = 940,200 = U$256,185.

Don't forget this is for a High end TRE, compared to a Line Captain in many other airlines as mentioned in a previous post. Also don't forget that we've got 14 weeks this year, but what about 2005, 2006, 2007... I wouldn't count on the 14 weeks every year, although I would welcome it:D

Maybe I'm missing something...

Pitoss

How can company contributions to the A fund be classified as Cash. In hand.?

You are also counting the accommodation allowance towards your Cash. In hand. Fair enough to include this for someone who bought into the Dubai property market 3-5 years ago but for someone joining EK now this allowance might just cover a one bedroom apartment with utilities in a good area.

Are you counting the education allowance towards your cash in hand? If so comparable education (state) in Europe/Oz/US etc is free of charge.

Over to you dropp.

By the way,

now = at this time
know = to have knowledge of something

Think his $312000 was actually Dhs312000 :)

Makes more sense..

And no way can you count A fund as cash in hand .