Cathay Facts, not opinions
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Join Date: Dec 2010
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Cathay Facts, not opinions
There are a lot of opinions of what it is like at Cathay but I find I'm weeding through a lot of this to find any facts.
Is the basic info on Airline Pilot Central - HOME current and correct?
Within the Cadet program, what do you do in your 16 week transition training?
What are you paid during your training?
What is the pay as SO?
Is there a housing subsidy still in place?
What is the amount and conditions of the bond?
When you sign on, you're stuck for your whole career under the payscale etc in that agreement?
Does the company still offer a retirement package?
What other facts and figures would I want to know to see if I should even go to an interview.
Is the basic info on Airline Pilot Central - HOME current and correct?
Within the Cadet program, what do you do in your 16 week transition training?
What are you paid during your training?
What is the pay as SO?
Is there a housing subsidy still in place?
What is the amount and conditions of the bond?
When you sign on, you're stuck for your whole career under the payscale etc in that agreement?
Does the company still offer a retirement package?
What other facts and figures would I want to know to see if I should even go to an interview.
Join Date: Jun 2011
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Is the basic info on Airline Pilot Central - HOME current and correct?
-That info may or may not be updated. You would be better off checking the Cathay Website.
Within the Cadet program, what do you do in your 16 week transition training?
-HK ATPL testing, Hong Kong Tech exam Testing, JTS simulator training
What are you paid during your training?
-Between $400-500 a month because Cathay pays for everything else. The money you are paid is for leisure. Cathay pays for housing, food, and training.
What is the pay as SO?
-To many answers to this question in these forums and on their company website. Its currently around $46,000 HKD/ month
Is there a housing subsidy still in place?
-Yes $10,000 HKD/month
What is the amount and conditions of the bond?
-Around $200,000 USD. As part of the TT course, you will receive about 70 percent of this when you get back to Hong Kong. I believe it's over the course of six years. If you do not pass training, you are not held to the bond.
When you sign on, you're stuck for your whole career under the payscale etc in that agreement?
-Not sure.
Does the company still offer a retirement package?
-Yes. Also on company website.
With all due respect, I don't think many will answer this post, I just wanted to be nice. As tchanhk has pointed out, all of this info has either been discussed/argued to death on these forums or its located on the company website. If looking to apply at Cathay, you have to do your own homework. Good luck to you though. Hope this helps.
-That info may or may not be updated. You would be better off checking the Cathay Website.
Within the Cadet program, what do you do in your 16 week transition training?
-HK ATPL testing, Hong Kong Tech exam Testing, JTS simulator training
What are you paid during your training?
-Between $400-500 a month because Cathay pays for everything else. The money you are paid is for leisure. Cathay pays for housing, food, and training.
What is the pay as SO?
-To many answers to this question in these forums and on their company website. Its currently around $46,000 HKD/ month
Is there a housing subsidy still in place?
-Yes $10,000 HKD/month
What is the amount and conditions of the bond?
-Around $200,000 USD. As part of the TT course, you will receive about 70 percent of this when you get back to Hong Kong. I believe it's over the course of six years. If you do not pass training, you are not held to the bond.
When you sign on, you're stuck for your whole career under the payscale etc in that agreement?
-Not sure.
Does the company still offer a retirement package?
-Yes. Also on company website.
With all due respect, I don't think many will answer this post, I just wanted to be nice. As tchanhk has pointed out, all of this info has either been discussed/argued to death on these forums or its located on the company website. If looking to apply at Cathay, you have to do your own homework. Good luck to you though. Hope this helps.
Join Date: Apr 2000
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Willing,
As of 1-1-11 Yr 1 SO is HKD$35,170/mth.
The company introduce a new payscale every few years so at anytime you can sign over to the lower contract.
Good Luck
What is the pay as SO?
When you sign on, you're stuck for your whole career under the payscale etc in that agreement?
Good Luck
Join Date: Apr 2000
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Also, you pay provisional tax here. So some time within the first few years you will pay the following years tax as well (double).
As Silberfuchs mentioned, I would SERIOUSLY look very closely at the cost of living here. Basically if it wasn't for the housing scheme I would not stay as I would not be moving forward financially. I might as well be financially stagnant in my own country.
As Silberfuchs mentioned, I would SERIOUSLY look very closely at the cost of living here. Basically if it wasn't for the housing scheme I would not stay as I would not be moving forward financially. I might as well be financially stagnant in my own country.
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I work for cx. I have three kids and am living in hong kong.The package I signed which was a direct entry S.O scheme which I was happy with and still am. I agree with waldopepper in that if it were not for the housing I would not stay. The housing is the one thing that separates a job at cx and staying and working in your own county as its an opportunity to get ahead faster than you may at home. Things like staff travel, flying "big planes" and living overseas eventually wear off and it becomes more of a job. Living overseas longer term comes at a price especially if you have a family or plan on having one in the future and you need to be rewarded to compensate for being away. Seniority based systems lock you in so it's worth thinking where you want to be longer term. Aviation especially in the Asia pacific region will boom over the next 5-10 years. Don't sell yourself short or your skills.
Lemondog.
Lemondog.
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Taxes
Also, you pay provisional tax here. So some time within the first few years you will pay the following years tax as well (double).
Seems strange to pay the next years tax if your going to get a pay increase at some point during that next fiscal year. Or would you then pay the balance durning the next year?
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Don't be lazy, the guys giving you info are taking their own time to do so but a lot of your questions are easy to find.
Look up on a facinating device called google,
"Forgiven (able - ish) loan"
Other forums for expats living costs in hk.
Real estate to find how far 10k HKD will take you so far as rent is concerned.
Hong Kong Pilots Allowance.
While you are there check what "SJS" is, have a strong coffee (or spirit) and talk to a lot of others are not 4 bars but 3,2 or 1 (does it exist comparatively package/experience wise?) bar guys with other airlines and make an objective comparison considering advancement and lifestyle for your circumstances.
You have to be a big boy and find answers that are more to the point elsewhere.
BD
Look up on a facinating device called google,
"Forgiven (able - ish) loan"
Other forums for expats living costs in hk.
Real estate to find how far 10k HKD will take you so far as rent is concerned.
Hong Kong Pilots Allowance.
While you are there check what "SJS" is, have a strong coffee (or spirit) and talk to a lot of others are not 4 bars but 3,2 or 1 (does it exist comparatively package/experience wise?) bar guys with other airlines and make an objective comparison considering advancement and lifestyle for your circumstances.
You have to be a big boy and find answers that are more to the point elsewhere.
BD
Join Date: Sep 2011
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Taxes
Krashman - The IRD (Inland revenue department) will take your pay for the first year and essentially double it to project your earnings for the next year. You will be taxed at full rate for the first year and then at about 90% for the second year I believe (never worked it out) so essentially you are paying forward dated tax. The sucky part is when you get that first tax bill, because it's huge and you haven't earned much (especially as a CEP when you have crazy cost of living expenses). You can get a cheap tax loan, but you never get ahead if you do this I found. The double taxing continues throughout your career and the only benefit comes in your last year of earning in Hong Kong. Because essentially the provisional tax cancels out that year and you pay nothing. It's a way for the IRD to have tax in hand and so expats can't just skip town without paying, although some do which is morally suspect and I won't go into the mechanism for that here.
Essentially, you are always paying double tax. Sounds weird but it's true. In general though, the HK tax system is excellent. Very simple and at a lower rate than pretty much anywhere else in the developed world.
Essentially, you are always paying double tax. Sounds weird but it's true. In general though, the HK tax system is excellent. Very simple and at a lower rate than pretty much anywhere else in the developed world.
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Another thing - the "forgivable loan" - USD200,000 is viewed by the IRD as income and is taxable IN FULL on your first years' income.
The IRD then assumes that you'll be earning the same amount the next year and you pay provisional tax on another $200K. Double whammy.
What's unfortunate is - unless you've done the "short course", there'll be about nothing left, so the "seed money" CX maintains you'll have on arrival in HKG to set up a rental, etc, will be taken by the IRD.
Enter the tax loan cycle. You borrow money from the bank to pay your taxes, amortized over 12 months, and just as you've paid it off - the next tax bill arrives. No money - take a tax loan...
This "IC" scheme is just unfair, demeaning and insulting to all professional aviators.
The IRD then assumes that you'll be earning the same amount the next year and you pay provisional tax on another $200K. Double whammy.
What's unfortunate is - unless you've done the "short course", there'll be about nothing left, so the "seed money" CX maintains you'll have on arrival in HKG to set up a rental, etc, will be taken by the IRD.
Enter the tax loan cycle. You borrow money from the bank to pay your taxes, amortized over 12 months, and just as you've paid it off - the next tax bill arrives. No money - take a tax loan...
This "IC" scheme is just unfair, demeaning and insulting to all professional aviators.
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@Capt.Undies - Absolutely true. Flip side being that after year two, the tax bill should go down once the IRD realises that you earned USD200k less than they expected and you're actually just one of those iCadets who getting paid nothing. It will likely not be until year 4 that your tax bill will stabilise. Not great.
As for tax loans, as a CEP, I found it very difficult to manage as it just ate into my income and I could never get ahead. I got lucky in the casino one night (no joke) which allowed me to get off the tax loan merry go-round and now I religiously stash away each month to cover. Never want to take one of those things again.
As for tax loans, as a CEP, I found it very difficult to manage as it just ate into my income and I could never get ahead. I got lucky in the casino one night (no joke) which allowed me to get off the tax loan merry go-round and now I religiously stash away each month to cover. Never want to take one of those things again.
