Annual Salary Increments SQ
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Annual Salary Increments SQ
Can anyone advise me what the last few years of profit sharing have been for the 747 Cargo guys? I am trying to decide if it is worth me jumping ship for the last years of my career? Is there a web site I can look up these details?
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Hello marcus747,
For the financial years of 2008/09, 2009/10, and 2010/11, the profit sharing bonus (psb) for SQCargo has been 1/2 month, zero months and 2.4 months.
If you compare the psb for SQCargo with the main fleet and Silkair (MI), SQCargo has always been getting less than the other two fleets. However, the formula for the PSB has expired this year. And, a new formula is going to be conjured up by the beancounters soon.
Regarding annual increment, the company has been trying very hard to change the contracts of new comers. For example, a pilot with a contract dated back in 2008 will have a section regarding Service Increment. According to the Singapore Ministry of Manpower, Service Increment is a yearly increment that is accorded to an employee for his years of service, experience, loyalty. It has nothing to do with company financial performance. However, if you look at the new contracts, they have changed Service Increment to Salary Increment, which now takes into account the financial performance of the company.
Until recently, pilots in SQCargo had not had any SI since 2009. Early July, the union was headed to the arbitration court with the company to work this out. FYI, SIA and Silkair had their 2009 SI settled in 2010. SIA is currently working on their 2010 SI while Silkair settled their 2010 and 2011 SI. Anyhow, the company decided not to air their dirty linen in court and have decided to pay up. A lumpsum of 2000 dollars for Capts, plus a 200 dollar increment per month backdated to January 2011, in lieu of the 2009 Service Increment.
2010 and 2011 SI left to fight.
For the financial years of 2008/09, 2009/10, and 2010/11, the profit sharing bonus (psb) for SQCargo has been 1/2 month, zero months and 2.4 months.
If you compare the psb for SQCargo with the main fleet and Silkair (MI), SQCargo has always been getting less than the other two fleets. However, the formula for the PSB has expired this year. And, a new formula is going to be conjured up by the beancounters soon.
Regarding annual increment, the company has been trying very hard to change the contracts of new comers. For example, a pilot with a contract dated back in 2008 will have a section regarding Service Increment. According to the Singapore Ministry of Manpower, Service Increment is a yearly increment that is accorded to an employee for his years of service, experience, loyalty. It has nothing to do with company financial performance. However, if you look at the new contracts, they have changed Service Increment to Salary Increment, which now takes into account the financial performance of the company.
Until recently, pilots in SQCargo had not had any SI since 2009. Early July, the union was headed to the arbitration court with the company to work this out. FYI, SIA and Silkair had their 2009 SI settled in 2010. SIA is currently working on their 2010 SI while Silkair settled their 2010 and 2011 SI. Anyhow, the company decided not to air their dirty linen in court and have decided to pay up. A lumpsum of 2000 dollars for Capts, plus a 200 dollar increment per month backdated to January 2011, in lieu of the 2009 Service Increment.
2010 and 2011 SI left to fight.
