Ezy TRSS fo/sfo questions
Thread Starter
Joined: Feb 2006
Posts: 588
Likes: 85
From: Here and there
Ezy TRSS fo/sfo questions
I didnt want to put this into the Strike thread where i know it would get attention,
But i've got a couple of questions that i'm hoping a recent fo/sfo on the ezy trss scheme might be able to help me with.
First the bond - Are the companys repayments added to your salary and then taxed? Or are they added as expenses and therefore not taxed?
Also the bond clearly includes £3000 for the advanced jet handling course, anyone any idea if the bond is reduced to £20k if the handling course is not needed?
And last but not least - can someone just confirm for me that the 2 months during the Type rating are unpaid
Looking for answers from people who are in this situation please
But i've got a couple of questions that i'm hoping a recent fo/sfo on the ezy trss scheme might be able to help me with.
First the bond - Are the companys repayments added to your salary and then taxed? Or are they added as expenses and therefore not taxed?
Also the bond clearly includes £3000 for the advanced jet handling course, anyone any idea if the bond is reduced to £20k if the handling course is not needed?
And last but not least - can someone just confirm for me that the 2 months during the Type rating are unpaid
Looking for answers from people who are in this situation please
Joined: Jun 2003
Posts: 3,648
Likes: 693
From: UK
I can only answer from my own personal experience, and this is a bit out of date now...
You pay £23,000 to easy. This can come from your own loan, the savings under your bed, or wherever.
Your salary is reduced by £5,000 pa for 5 years. Note that anything that is calculated on your salary is also reduced accordingly (pension, share issues, bonuses and so on). You are not immune from the further salary reductions that easy make (10% for six months after joining/command).
On top of your salary, easy pay you an untaxed £430. This you then send off to your lender, plus the extra because £430 is now not enough.
When I did the initial TR, I did the JOC too. There may be a long wait (unpaid) between the JOC and the TR, so plan financially for this. Furthermore, you are unpaid (and not even an employee) for the duration of the TR course, until you pass the LST. Then you discover that pay is one month in arrears! In the end I went 4 months between pay checks.
Be mentally prepared to do the TR alongside other FOs who are paid and who are on expenses. We had situations where TRSS were not allowed to get into employees taxis when going to the same sim.
All in all it cost me about £30,000 in fees, expenses and lost wages. This excludes my relocation costs - I was verbally "promised" a base in England, but during the course I got my letter of base allocation and I had to move abroad (at my expense, during the TR course). In 2003 it was the only way to get a jet job in Europe. The situation now is totally different and I would advise long and careful thought before committing to this.
You pay £23,000 to easy. This can come from your own loan, the savings under your bed, or wherever.
Your salary is reduced by £5,000 pa for 5 years. Note that anything that is calculated on your salary is also reduced accordingly (pension, share issues, bonuses and so on). You are not immune from the further salary reductions that easy make (10% for six months after joining/command).
On top of your salary, easy pay you an untaxed £430. This you then send off to your lender, plus the extra because £430 is now not enough.
When I did the initial TR, I did the JOC too. There may be a long wait (unpaid) between the JOC and the TR, so plan financially for this. Furthermore, you are unpaid (and not even an employee) for the duration of the TR course, until you pass the LST. Then you discover that pay is one month in arrears! In the end I went 4 months between pay checks.
Be mentally prepared to do the TR alongside other FOs who are paid and who are on expenses. We had situations where TRSS were not allowed to get into employees taxis when going to the same sim.
All in all it cost me about £30,000 in fees, expenses and lost wages. This excludes my relocation costs - I was verbally "promised" a base in England, but during the course I got my letter of base allocation and I had to move abroad (at my expense, during the TR course). In 2003 it was the only way to get a jet job in Europe. The situation now is totally different and I would advise long and careful thought before committing to this.
Joined: Dec 2002
Posts: 612
Likes: 0
From: Europa
Very good post Hundredpercentplease !
At last a clear view of what really goes on with TRSS.
At least you didn't pay for a Type Rating with no gtee of a job.
All the same £30k is one heck of a lot of money after all the costs people spend gaining a frozen ATPL.
At last a clear view of what really goes on with TRSS.
At least you didn't pay for a Type Rating with no gtee of a job.
All the same £30k is one heck of a lot of money after all the costs people spend gaining a frozen ATPL.
Joined: Jun 2003
Posts: 3,648
Likes: 693
From: UK
True - but those who did paid just £17,000 or so and joined easy last year on the full package. I have had them on the jumpseat, complete with their entire 190 hours, paid significantly more than me. Ho hum!
A useful link:
http://www.moneysupermarket.com/Loan...curedLoanType=
A useful link:
http://www.moneysupermarket.com/Loan...curedLoanType=
