What Did You Take Home This Month?
Guest
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I don't know guys, but why not start a new career as a Contract Pilot. How to do it? Visit my website: www.cockpitforum.com
Guest
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It is truly diverse out there. Even within BA there seems to be a large discrepency; it seems that Shorthaul is where the money is if you're junior.
After 3 1/2 years flying the 747-400 may average take home is 2700GBP, last month it was 2550GBP. Only 3 times in as many years has it been the right side of 3000GBP!
This can be attributed to the vast difference between a good (senior) line of work and a poor (junior) line. This vast difference doesn't exist in S/H, so everyone gets an even hand dealt to them.
Here's hoping Lufty really do get their 30%!
ATB,
Underdog
After 3 1/2 years flying the 747-400 may average take home is 2700GBP, last month it was 2550GBP. Only 3 times in as many years has it been the right side of 3000GBP!
This can be attributed to the vast difference between a good (senior) line of work and a poor (junior) line. This vast difference doesn't exist in S/H, so everyone gets an even hand dealt to them.
Here's hoping Lufty really do get their 30%!
ATB,
Underdog
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Underdog - BA DEP on A320/LHR, less than 2 years seniority. In 1st year, best take home was £3250 normal month, best overall was £3600 with 3 days draft (4 sectors over 3 days !). I suppose the average is around £2700, but that will only get better as new people pile in below and we get longer tours.
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Speedbird777,
There are BA Capts. who earn over 100,000GBP per year but this would be including allowances, etc. Also being a training captain would boost your pay. However, most of these pilots will have retired within the next 5 years - with their replacements earning considerably less.
Sadly, even the highest paid Captains at BA earn less than many F/Os at United and Delta, where a wide-body F/O will earn over $160,000 per year and a senior Captain well over $300,000 per year.
There are BA Capts. who earn over 100,000GBP per year but this would be including allowances, etc. Also being a training captain would boost your pay. However, most of these pilots will have retired within the next 5 years - with their replacements earning considerably less.
Sadly, even the highest paid Captains at BA earn less than many F/Os at United and Delta, where a wide-body F/O will earn over $160,000 per year and a senior Captain well over $300,000 per year.
Guest
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In my opinion the salary is only part of the equation and it falls a poor second to lifestyle.
All the money in the world will not compensate for a broken marriage/family.
As a Captain on a regional TP I take home £2500pm, more than £1000 less than my previous job, RHS shiny Jet.
I don't night stop, work about 60 hrs pm, short turnarounds mean that most of my duty time is spent flying - great life. Even on a late I'll be at home with my slippers on by 20:30.
An earlier poster said that shorthaul was where the money is and he is certainly barking up the right tree, but it is not just money, it's the whole package.
All the money in the world will not compensate for a broken marriage/family.
As a Captain on a regional TP I take home £2500pm, more than £1000 less than my previous job, RHS shiny Jet.
I don't night stop, work about 60 hrs pm, short turnarounds mean that most of my duty time is spent flying - great life. Even on a late I'll be at home with my slippers on by 20:30.
An earlier poster said that shorthaul was where the money is and he is certainly barking up the right tree, but it is not just money, it's the whole package.
Guest
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Nacaduck,
At last a wise reply!
I fly shorthaul, CPT 737 at KLM.
I work 80% parttime, which means 14 days work per 28 days. Not bad, a few nightstops, but in general I see my family more than anybody I know.
Still make about 88.000 USD.
Good package all in all.
At last a wise reply!
I fly shorthaul, CPT 737 at KLM.
I work 80% parttime, which means 14 days work per 28 days. Not bad, a few nightstops, but in general I see my family more than anybody I know.
Still make about 88.000 USD.
Good package all in all.
Guest
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Nacaduck & static,
Exactly what I realised after a few years as a contract/direct entry captain, and what I'm telling everone visiting my website www.cockpitforum.com. What's important for you to see in a package is not necessarily what I'm looking for, or anybody else for that matter. Fact is that money can never be #1 and can never beat a good roster.
Exactly what I realised after a few years as a contract/direct entry captain, and what I'm telling everone visiting my website www.cockpitforum.com. What's important for you to see in a package is not necessarily what I'm looking for, or anybody else for that matter. Fact is that money can never be #1 and can never beat a good roster.
Guest
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You know, its funny, all I hear day in and day out is "we don't earn enough money, the airlines pay much better" - blah! As an RAF Flt Lt on middle rate flying pay and living out, I take home £2500 GBP per month after tax. I get to fly at 50' and land wherever I want - its not all bad you know. I guess the difference is we will top out at about £3000 per month whereas you guys keep going, hey ho.
Ps Can I have a job in 8 years please!
Ps Can I have a job in 8 years please!
Guest
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Is this any help at putting some perspective on currency relativities in your next round of bargaining.
Big Mac Currencies
Apr 19th 2001
From The Economist print edition
The Economist’s Big Mac index of currencies offers food for thought
IT IS time for our annual bite at burgernomics. The Economist’s Big Mac index was first launched in 1986 as a gastronome’s guide to whether currencies were at their correct exchange rate. It is not intended to be a precise predictor of currency movements, but simply a way to make exchange-rate theory a bit more digestible.
Burgernomics is based upon one of the oldest concepts in international economics: the theory of purchasing-power parity (PPP). This argues that the exchange rate between two currencies should in the long run move towards the rate that equalises the prices of identical bundles of traded goods and services in each country. In other words, a dollar should buy the same amount everywhere.
Our “bundle” is a McDonald’s Big Mac, which is produced to more or less the same recipe in about 120 countries. The Big Mac PPP is the exchange rate that would leave hamburgers costing the same in each country. Comparing a currency’s actual exchange rate with its PPP is one test of whether the currency is undervalued or overvalued.
The first column of the table shows local-currency prices of a Big Mac; the second converts them into dollars. The average price of a Big Mac in America is $2.54 (including sales tax). In Japan, Big Mac scoffers have to pay ¥294, or $2.38 at current exchange rates. The third column calculates PPPs. Dividing the yen price by the dollar price gives a Big Mac PPP of ¥116. Comparing that with this week’s rate of ¥124 implies that the yen is 6% undervalued.
The cheapest Big Macs are found in China, Malaysia, the Philippines and South Africa, and all cost less than $1.20. In other words, these countries have the most undervalued currencies, by more than 50%. The most expensive Big Macs are found in Britain, Denmark and Switzerland, which by implication have the most overvalued currencies. Sterling, for example is 12% overvalued against the dollar—less than two years ago, it was overvalued by 26%.
The greatest triumph of the Big Mac index has been in tracking the euro. When Europe’s new currency was launched in January 1999, virtually everybody predicted that it would rise against the dollar. Everybody, that is, except the Big Mac index, which suggested that the euro started off significantly overvalued. One of the best-known hedge funds, Soros Fund Management, admitted that it chewed over the sell signal given by the Big Mac index when the euro was launched, but then decided to ignore it. The euro tumbled; Soros was cheesed off.
The average price today in the 12 euro countries is euro2.57, or $2.27 at current exchange rates. The euro’s Big Mac PPP against the dollar is euro1=$0.99, which shows that it has now undershot McParity by 11%. That, in turn, implies that sterling is 26% overvalued against the euro.
Overall, the dollar has never looked so overvalued during 15 years of burgernomics. In the mid 1990s the dollar was cheap against most currencies; now it looks dear against all but three. The most undervalued of the rich-world currencies are the Australian and New Zealand dollars, which are both 40-45% below McParity. They need to ketchup.
All the emerging-market currencies are undervalued against the dollar on a Big Mac PPP basis. That, in turn, means that a currency such as Argentina’s peso, which is undervalued only a tad against the dollar, is massively overvalued compared with other currencies, such as the Brazilian real and virtually all of the East Asian currencies.
Some of our readers find the Big Mac index hard to swallow. Not only does the theory of purchasing-power parity hold only for the very long run, but hamburgers are a flawed measure of PPP. Local prices may be distorted by trade barriers on beef, sales taxes, or big differences in the cost of property rents. Nevertheless, some academic studies of the Big Mac index have concluded that betting on the most undervalued of the main currencies each year is a profitable strategy.
Hmmm would make an appendix to the work place agreement no?
Big Mac Currencies
Apr 19th 2001
From The Economist print edition
The Economist’s Big Mac index of currencies offers food for thought
IT IS time for our annual bite at burgernomics. The Economist’s Big Mac index was first launched in 1986 as a gastronome’s guide to whether currencies were at their correct exchange rate. It is not intended to be a precise predictor of currency movements, but simply a way to make exchange-rate theory a bit more digestible.
Burgernomics is based upon one of the oldest concepts in international economics: the theory of purchasing-power parity (PPP). This argues that the exchange rate between two currencies should in the long run move towards the rate that equalises the prices of identical bundles of traded goods and services in each country. In other words, a dollar should buy the same amount everywhere.
Our “bundle” is a McDonald’s Big Mac, which is produced to more or less the same recipe in about 120 countries. The Big Mac PPP is the exchange rate that would leave hamburgers costing the same in each country. Comparing a currency’s actual exchange rate with its PPP is one test of whether the currency is undervalued or overvalued.
The first column of the table shows local-currency prices of a Big Mac; the second converts them into dollars. The average price of a Big Mac in America is $2.54 (including sales tax). In Japan, Big Mac scoffers have to pay ¥294, or $2.38 at current exchange rates. The third column calculates PPPs. Dividing the yen price by the dollar price gives a Big Mac PPP of ¥116. Comparing that with this week’s rate of ¥124 implies that the yen is 6% undervalued.
The cheapest Big Macs are found in China, Malaysia, the Philippines and South Africa, and all cost less than $1.20. In other words, these countries have the most undervalued currencies, by more than 50%. The most expensive Big Macs are found in Britain, Denmark and Switzerland, which by implication have the most overvalued currencies. Sterling, for example is 12% overvalued against the dollar—less than two years ago, it was overvalued by 26%.
The greatest triumph of the Big Mac index has been in tracking the euro. When Europe’s new currency was launched in January 1999, virtually everybody predicted that it would rise against the dollar. Everybody, that is, except the Big Mac index, which suggested that the euro started off significantly overvalued. One of the best-known hedge funds, Soros Fund Management, admitted that it chewed over the sell signal given by the Big Mac index when the euro was launched, but then decided to ignore it. The euro tumbled; Soros was cheesed off.
The average price today in the 12 euro countries is euro2.57, or $2.27 at current exchange rates. The euro’s Big Mac PPP against the dollar is euro1=$0.99, which shows that it has now undershot McParity by 11%. That, in turn, implies that sterling is 26% overvalued against the euro.
Overall, the dollar has never looked so overvalued during 15 years of burgernomics. In the mid 1990s the dollar was cheap against most currencies; now it looks dear against all but three. The most undervalued of the rich-world currencies are the Australian and New Zealand dollars, which are both 40-45% below McParity. They need to ketchup.
All the emerging-market currencies are undervalued against the dollar on a Big Mac PPP basis. That, in turn, means that a currency such as Argentina’s peso, which is undervalued only a tad against the dollar, is massively overvalued compared with other currencies, such as the Brazilian real and virtually all of the East Asian currencies.
Some of our readers find the Big Mac index hard to swallow. Not only does the theory of purchasing-power parity hold only for the very long run, but hamburgers are a flawed measure of PPP. Local prices may be distorted by trade barriers on beef, sales taxes, or big differences in the cost of property rents. Nevertheless, some academic studies of the Big Mac index have concluded that betting on the most undervalued of the main currencies each year is a profitable strategy.
Hmmm would make an appendix to the work place agreement no?
Guest
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Atco in Scotland
6 yrs valid, instructor/assessor
work 18 days pm, 2 hrs on - 1/2 hr fag break
av 8 hr shift
know excactly what im working 6, 8, 12 months from now
no paperwork
fantastic job, poor managment
take home £2300 pm
Oh yeah i get a daily bonus too:- i get to tell you guys what to do!!
6 yrs valid, instructor/assessor
work 18 days pm, 2 hrs on - 1/2 hr fag break
av 8 hr shift
know excactly what im working 6, 8, 12 months from now
no paperwork
fantastic job, poor managment
take home £2300 pm
Oh yeah i get a daily bonus too:- i get to tell you guys what to do!!
Guest
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Speedbird-is some of that United widebody FO pay (must be on 744 or 777?) before the recent contract, and does it include voluntary extra flying on scheduled days off? I can't imagine that the new United pay rates will last, unless we avoid a real recession.
Those British taxes must still be murder, just like western Europe.
Those British taxes must still be murder, just like western Europe.
Guest
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This just shows that comparisons are very nearly impossible. 3rd year regional Jet Captain. £3,200. Average month. No nightstops this time. No long trips and no night flights, low housing cost regional base,usually get left alone on standby. Pay increases agreed for two years and while not dramatic is way ahead of when I joined. Good prospects for promotion or bigger machinery. Got command way ahead of my expectations. Well financed company, not much chance of going under. Downside is limited routes and repetitive roster.
Guest
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About gbp2400 - but since I don't (yet) work in aviation this reduced to about 1850 after paying for hours to supplement my recently acquired PPL (pretend pilot's licence). Can I afford to give up the job for 18 months, and find the gbp40k or so for an ATPL? Any suggestions? You all seem such a happy bunch.
sdr
sdr