Originally Posted by
Cosmik
I was looking at going to ATP for the training. It seemed like one of the best choices and didn't seem like too many people had anything bad to say about it. I've been reading around the forums and it seems like a lot of people are saying its bad to take out a loan to pay for your training/school. Why is that? I have some money in the bank but not enough to pay for it in full.
It's OK to take out a loan, but be very careful about letting the school access it:
1) DO NOT EVER deposit the loan (or your own money) as a lump sum with the school, dole it out to them as you train a few grand at a time.
2) $20-40K is reasonable, depending on the training you need and location.
3) $60K+ means you are getting ripped off.
4) Make sure your training is progressing on schedule and on budget...understand the schedule and ask questions! I have seen kids blow their ENTIRE $30K commercial training loan on a private pilot license (these kids were lazy slacker idiots, but still)
Originally Posted by
Cosmik
Is is just extremely hard to find any kind of job or instructors job right out of training? Also how long does it usually take to get hired after you get a decent amount of hours?
No, it's normally not too hard, and it is VERY easy right now due to demand. Flight instruction is not something most people want to do for a career because of the low pay and stress. Eventually you can make a decent living as a specialist or pilot examiner, but along with your good income you have massive liaibility issues (juries are clueless about aviation and will essentially ALWAYS believe the lying sack of S#$% plaintiff's attorney...even if you did nothing wrong, you still lose 98% of the time)
Originally Posted by
Cosmik
Another thing I was curious about is, is it impossible to find a job without a Bachelors degree? I'm pretty much willing to relocate wherever. I know most people will probably tell on me to go ahead and finish school first but is it really the only option? From what I've read you max out at 90k without bachelors.. and around 200k+ with one. What are some of the average starting pays with out without a degree?
Good questions. Basically your career progression in the industry is measured by your accumulated flight experience...airlines essentially never negotiate with individual pilots. Even if you have a Phd in aerospace engineering and an MD, if you only have 200 hours, you will make less than 20k$ as a cfi, when you have 1000 hours (rough number) you can move on to the regionals, at 5000+ maybe the majors. The degree does not enhance your income, it prevents you from being automatically disqualified from most major airline jobs. Lack of a 4 year degree (or a DUI or serious criminal history) will lock you out of the most highly paid, stable, and comfortable jobs.
Regarding $90K/year at a regional... Yes, you can make that after a number of years with one company, and have 15 days off a month too. But the fundamental probem with regionals (as was mentioned) is that they are subcontractors. They can be fired and replaced by another regional at the drop of a hat...and if your company folds, you will start ALL OVER at the BOTTOM of another companies seniority list ($20K). You might be able to stay at one regional, make decent money and never be unemployed...but you live year-to-year contract-to-contract and will never know until the day you retire if you are going to make it to the end.
Originally Posted by
Cosmik
And finally just a few general questions. I know becoming an instructor is probably the best way to gain hours but if it does become a problem finding an instructor job, is it possible to privately gain hours? Or is it far too expensive? And lastly would you guys recommend going for it with my current situation or does it just sound like a recipe for disaster. I'm not afraid to put all my effort into it but i just want to get some experienced opinions on the matter. Make sure I'm not gonna jump into something that would just put me in way over my head.
You won't have trouble getting a CFI job and you will learn a LOT. A few very wealthy individuals will just buy the flight time they need to qualify for a regional job, but these folks are often looked down on (all depends on the individual really). You might have to buy some multi-engine time at some point, that is pretty common since MEI (multi-engine instructor) jobs can be hard to find.
At your age you could do it no problem, but try to come up with a plan to get the degree. I would recommend getting your private pilot license and doing a lttle fun flying to make sure you really dig it. If you don't like flying a Cessna 172 for fun, you won't like flying an airliner for work. Keep your day job while you do this...in fact, you can keep your day job while you get ALL your ratings, it will just take longer.