Originally Posted by
elijahmike1
Im a vet so after VA would have taken on about 40K grand debt.
I agree with the above. There is no rush in today's market to jump headfirst into this profession. Take lessons on the side with a legit CFI.
Of course if you're sold on ATP, I'd say the following... (You don't mention if the Missus has a high-paying job, so I'll assume no for now.)
Consider staying at your current gig and bank the 40 grand (plus another 20 grand living expenses?) before you go to ATP. You don't want any debt as a struggling CFI for what could be several years trying to build time without students.
Pay off all credit cards, auto loans, etc. See how tight you can get your current household budget, then save every penny.
If you can't save $20,000 a year for two years while you're at a $50,000/year job, you may have trouble getting by on only $25-35,000 FO pay.
If your family doesn't like "existing" on 50 grand, see how they like "existing" on 30 grand. Then tell them it will get better in 2013 or 2020, depending on factors entirely beyond your control.
How many years you spend in the right seat depends 100% on how your regional plays its cards, and 0% on your pilot skills, dedication, hard work, and personal sacrifice.
Can you go to ATP, get hired by a regional, and in two years be making Captain pay? It has been done, but not due to hard work alone. Substantial luck is involved. How much luck will you be bringing to your new regional airline?
have you used APC pay scales to come up with best-case and worst-case scenarios? Compare them to your current job. (Throw in $30,000 for a quarter share of an airplane to fly for fun on weekends.)
Best case - 2 years instructing, 2 years Regional FO, 2 years Regional Captain, then the rest of your career as a FO at the Majors (Maybe the last 8-12 years narrowbody Captain).
Worst Case - 4 years CFI, 10 years Regional FO, get furloughed, 5 years Regional FO at another airline, then 15 years Regional Captain. Or something like that.
Worst Case is not very likely, but neither is an engine failure. And you have to be prepared for engine failures.
Good luck, you have a tough decision ahead of you. I put my family through the same decision 9 years ago. I hope we both have happy endings someday.