PPRuNe Forums - OAT/NetJets Europe Stage 2

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OAT/NetJets Europe Stage 2

Hi there, I was wondering who else has applied and been accepted for the most recent stage 2 selection in March for the OAT NetJets scheme? Would be good to hear from anyone who is in the same position as myself!

Adam

Hi

I have applied to the OAA Netjets scheme, but have not herd if I am in stage 2 yet. Hopefully will hear by the end of this week!

Fingers crossed!

Andrew

Hi Adam, I'm in the same position as you. I got an email yesterday saying I'd got through to stage 2, although they only gave a provisional date - something about assessments taking place over an 8 day period beginning on the 5th March? I can only assume OAA have batched together a load of OAA/NJE candidates and they're going to assess them all at the same time.

Matt

Hi Adam/ Matt

I too have received an email regarding Stage 2. I hope to see you both there :)

Hey Guys,

Me too, any one know a bit more about what will happen at stage 2?

Ghostie

I believe its the 2 day assessment conducted at OAA. (formerly OAT).
It'll include the aptitude tests, maths test, psychometric test, interview, group exercises...that sort of thing....

Yer, stage 2 is exactly the same as the OAA assessment for the APP First Officer Programme but without the simulator check.

All the info is on the Oxford website.

Hi guys,

I'll be there too, see you some time between 8-12th March!

Charlotte

Hi guys,

Yeh I have had an email to confirm I have got through to stage 2. Looking forward to it.

Hi all,

Ive also applied....still waiting for an email tho :sad:

I'm also waiting for that long awaited email! Mike Griffith from OAA said we would hear by the end of this week!

Good luck!

Andrew

OAT/NetJets Europe Stage 2

Hello All,

Is anyone else coming outside GB? It's very hard to find flights to the Oxford..Should I fly to the Heathrow and take the bus..

BR
Jim

Hello,

I've had my dates come through as the 10th & 11th March, is everyone else the same?

Charlotte

Jim, unfortunately, Oxford isn't the most convenient place to get to without a car.

I would probably fly into Heathrow and either hire a car to drive up to Oxford or bus then taxi. Remember to search Oxford Airport as opposed Oxford the city.

I would like to inform some of you.

You guys are paying 195GBP+accommodation+transportation for an assessment?

At the end of the assessment you will contract a loan with high interest rates for over 63000GBP?

I think many forget to read between the lines on this page:

Quote:

In addition to the security of employment with NetJets Europe, successful OAA/NetJets candidates will benefit from a special cadet entry First Officer salary programme. In addition to a cadet entry salary of €36,500 per annum, NetJets Europe will also pay those selected for the cadet programme a further €20,000 pa towards repayment of any training costs until such time that the course training costs have been repaid (€56,500 in total for your first year of employment). It is anticipated a full training cost reimbursement will be paid off within 5-6 years of employment with NetJets Europe, at which time the cadet entry First Officer switches to the First Officer salary scale with accrued company seniority from date of joining the airline.

Don't forget to add accommodation expenses at Oxford and your food expenses during training.

You ain't earning much in the first 5 to 6 years, and you are earning exactly 0 on the first year...

Don't mean to break your dreams, just think twice!

Jim,

There are no scheduled flights to Oxford. Your best option is to get a cheap flight to Heathrow, one of the other London airports, Bristol or Birmingham, then get a bus or train to Oxford city and then a local bus to the airport.

When I went I was coming from Ireland. I flew to Bristol, got a train to Oxford, then got a bus that dropped me right at the entrance to the airport.

With over 230 trains a day and the highest number of bus services per capita in the UK, you should be able to find a train/bus to suit your schedule.

Hi all,

I've had my dates through as the 7th & 8th March, anybody else here attending the same days?

Nichibei Aviation, I don't really get what you're trying to say...I understand that it is a little expensive, but then there is the guarantee of a job at the other end AND the majority of your expenses repaid to you. I'm not saying you don't have a point, but could you perhaps explain it more clearly?

Hey Charlotte,

Yea my dates are the same but I cant do the Tuesday or the week before so I've asked them if its possible to re-schedule it. If your succesful do you mind me asking what you are going to do about the loan? Does it bother you that it is a secured loan?

G

Nichibei Aviation

Do you really think the package is all that bad for a low-hours first job:

Basic salary €36,500 - taxed
Optional 6 extra service days €4,200 - taxed
Fee repayment contribution €20,000 - tax-free for UK residents
Per diem €70 for 200 flying days €14,000 - tax-free
Per diems for optional 6 extra days €420 - tax free

So if you opt for the extra 6 days (just opting for them means you get the money, regardless of whether you are actually called in) then you will get:
Taxable income: €40,700 (£30,681.3)
Non-Taxable income: €34,420 (£25,947.2)

If you convert to sterling then run through one of the numerous tax websites this gives you a NET income of:
£22,545.57 NET
+ £25,947.2 Tax-Free
= £48493.07 NET

In order to net the same amount with a standard (basic salary only) package, you would need a basic salary of £72,500.

If there is a better cadet package out there - i would LOVE to hear about it as I clearly will have made the wrong choice going for NJE :D

By earning 0 in the first year, I can only assume you are referring to getting paid DURING your training - there can't be too many roles out there that do that. However, the above package kicks in from day 1 with the company.

PS - there is no obiligation to take the loan from HSBC so you are welcome to finance it any way you wish.

PPS - the section about reverting to the standard first office payscales simply refers to the point when your training costs have been re-imbursed, the €20,000 is no longer tax-free.

Dear Woskam,

From the OAA website:

Quote:

Under the cadet training programme OAA training currently costs £61,800 plus £4,250 for the CAA test fees (these figures may be subject to marginal adjustment for courses starting in 2008). Included in the price are 20 weeks room only accommodation in Phoenix plus the two weeks accommodation during the additional aerobatic/unusual attitude advance handling and VFR training courses. This will mean that you will need to cover any other expenses, which are effectively limited to approximately 43 weeks Oxford accommodation, and of course food.
For UK resident cadets, OAA offers a bespoke HSBC loan programme for all APP FO students. The OAA/NetJets Europe cadets will qualify for a secured loan of up to £60,000, subject to meeting the HSBC standard eligibility requirements.
For non UK resident cadets, NetJets and OAA are discussing loan options with various European banks. In the meantime, cadets may secure their own loan in country of residence or self fund. This can be discussed in more detail during the advanced stages of selection.

So 66 000GBP for the training only.
66 000GBP is approx 86 000€.

Loan paid over 8 years (2 years training + 6 years Netjet) at a rate of 8% per year= 8 x 8%= 64% interest.

86 000 + 64% = 141 000€ to the bank.

(Plus accommodation at Oxford 10 months = 141 000 + 6000 = 147 000€ total investment)

-First year: 56 500€ paycheck, 56 500€ loan payback, no income taxes.
Money over=0€, no money over for living costs, will have to pay for car and gas to get to the nearest airport and uniform cleaning.

Remaining loan= 141 000-56 500=84 500€

-2nd year: 56500€ paycheck-25% income taxes=42 375€
20 000€ loan payback
Money over = 22 3750€ (Average ab-initio pay)

Remaining loan= 64500€

-3rd year: 56 500€ paycheck-25% income taxes=42 375€
20 000€ loan payback
Money over = 22 3750€ (Average ab-initio pay)

Remaining loan= 44 500€

-4th year: 56 500€ paycheck-25% income taxes=42 375€
20 000€ loan payback
Money over = 22 3750€ (Average ab-initio pay)

Remaining loan=24 500€

-5th year: 56 500€ paycheck-25% income taxes=42 375€
20 000€ loan payback
Money over = 22 3750€ (Average ab-initio pay)

Remaining loan= 4500EUR

-6th year: 56 500EUR paycheck-25% income taxes=42 375€
4500€ loan payback
Money over = 37875€ (good first officer pay)

I am just informing you where OAA fails to inform you as they should.
Also, remember that your dream is your weakness.

PS: Portugal taxes high salary scales very hard. 25% is an estimate but higher taxes are likely. I understand that Netjets doesn't pay per diem's to cadets.

Quote:

Fee repayment contribution €20,000 - tax-free for UK residents

Why would it be tax free for UK students only? Netjets is paying it and Netjets is based in Portugal which means that Portuguese law applies.
Under EU law any income is taxable unless linked to compensation of direct costs (uniform, transportation, food) related directly to the exercise of the job.

Even a repayment by Netjets to the bank is considered income and is taxable. The reason why I did not make the first year taxable is because Netjets can justify these costs as being direct hiring and training costs that can be justified by type-rating and line training needs.
That is no longer the case for the next years.