Where does anyone get £105k for their pilots licence from?
Discussion
Just having a browse after another day sat in an office, and thinking I should really have thought harder before falling into a career! Anyway, still plenty young enough to do something else and being a pilot has always seemed quite interesting, but looking at the various schools and training schemes, even those sponsored by big airlines require a lot of cash to start with. How the hell is any young person supposed to find that kind of money?
I looked into this back in 2000, when it was a mere 70 odd grand.
Inspired by a mate who was an electrical engineer, who got bored, and was fortunate enough to have an understanding wife, along with a chunk of equity in his property, so he re-mortgaged his house to raise the funds to do so.
He was lucky enough to get to a F/O position with Monarch fairly quickly afterwards, and within the next 6 or 7 years made Captain, and has been flying ever since.
HOWEVER things have changed an awful lot since then, and I would think very carefully about doing this, wherever you raise the funds from. Frankly, anyone considering it should spend a few hours over on the pprune forums, and then see if they still think it is worth it!
Inspired by a mate who was an electrical engineer, who got bored, and was fortunate enough to have an understanding wife, along with a chunk of equity in his property, so he re-mortgaged his house to raise the funds to do so.
He was lucky enough to get to a F/O position with Monarch fairly quickly afterwards, and within the next 6 or 7 years made Captain, and has been flying ever since.
HOWEVER things have changed an awful lot since then, and I would think very carefully about doing this, wherever you raise the funds from. Frankly, anyone considering it should spend a few hours over on the pprune forums, and then see if they still think it is worth it!
In 2013 Aer Lingus did a mostly-sponsored cadet scheme where you paid €25k, another €25k was gradually repaid from salary, and they paid the remaining €50k. I believe recently that has changed so that the cadet pays nothing directly.
BA Future Pilot program does not require you to 'pay' as such. You take out a loan, secured by the company IIRC, and it is paid off from your salary, so you have a much reduced salary for 7 years.
I think West Atlantic still run an occasional cadet scheme where you don't pay anything, but you spend quite a while working for them in other roles while training.
Bristow sometimes run a scholarship for an ATPL(H), but I think that has an age limit.
Some people will borrow off or be given money by wealthy parents, some people have become wealthy themselves before they start, some just write off many years of their future with no disposable income and take the loan and interest on the chin.
If you decide to go for it, my recommendation would be to join a scheme that (as far as is ever possible), guarantees you a job at the end. Recruitment is high at the moment, but that could all have changed by the time you have finished training. Don't believe any flannel that any of the big schools give you with regard to how successful they are with placing cadets - think about the half-truths you would tell to get your hands on that much money. For example, cadets sponsored by Emirates were included on one school's poster of "Who We've Placed Our Graduates With". They had that job before they walked through the school's front door - the school had nothing to do with it! You will not feel that the amount you paid for a course was worth it, so you need to make sure that it gives you a job which IS worth it!
BA Future Pilot program does not require you to 'pay' as such. You take out a loan, secured by the company IIRC, and it is paid off from your salary, so you have a much reduced salary for 7 years.
I think West Atlantic still run an occasional cadet scheme where you don't pay anything, but you spend quite a while working for them in other roles while training.
Bristow sometimes run a scholarship for an ATPL(H), but I think that has an age limit.
Some people will borrow off or be given money by wealthy parents, some people have become wealthy themselves before they start, some just write off many years of their future with no disposable income and take the loan and interest on the chin.
If you decide to go for it, my recommendation would be to join a scheme that (as far as is ever possible), guarantees you a job at the end. Recruitment is high at the moment, but that could all have changed by the time you have finished training. Don't believe any flannel that any of the big schools give you with regard to how successful they are with placing cadets - think about the half-truths you would tell to get your hands on that much money. For example, cadets sponsored by Emirates were included on one school's poster of "Who We've Placed Our Graduates With". They had that job before they walked through the school's front door - the school had nothing to do with it! You will not feel that the amount you paid for a course was worth it, so you need to make sure that it gives you a job which IS worth it!
Edited by Prawo Jazdy on Friday 16th September 08:50
These guys do pilot training and provide finance as well like a student loan. http://www.2flypropilot.com/
If your smart and can pass flight tests/exams first time you can do it for half the costs of these integrated flight schools and be aware their 100% airline placements are based on them only placing their best performing students in front of the airlines HR department, those who are 1-2% and below the course grades are kicked out after they have had your money and left to job search on your own.
I'd suggest you try a few hours flight training towards your PPL first to see if you even like it, then take a class 1 medical check, if you pass, your good to go on both accounts
I'd suggest you try a few hours flight training towards your PPL first to see if you even like it, then take a class 1 medical check, if you pass, your good to go on both accounts
Condi how old are you ?
A lot of the guys I know used the bank of mum and dad. Or having parents to remortgage houses. Obviously the older guys can get lots of the funds together themselves.
Again 105k is most probably integrated courses through the likes of CTC or OAA.
Look at small modular schools and you can knock 40% of that price. PPL stateside, atpl exams via home learning with Bristol gs ect.
integrated schools generally can get there students into flying jobs quicker, which if you have loans to pay Isn't a bad thing. Wages during your first year won't be brilliant though wherever you are.
There are a lot of pilots who are fully qualified and looking for there first job as the market is very saturated with 250 hour cpl guys.
Competition is fierce for any low time pilot job and first time passes At every exam is almost a requirement.
A lot of the guys I know used the bank of mum and dad. Or having parents to remortgage houses. Obviously the older guys can get lots of the funds together themselves.
Again 105k is most probably integrated courses through the likes of CTC or OAA.
Look at small modular schools and you can knock 40% of that price. PPL stateside, atpl exams via home learning with Bristol gs ect.
integrated schools generally can get there students into flying jobs quicker, which if you have loans to pay Isn't a bad thing. Wages during your first year won't be brilliant though wherever you are.
There are a lot of pilots who are fully qualified and looking for there first job as the market is very saturated with 250 hour cpl guys.
Competition is fierce for any low time pilot job and first time passes At every exam is almost a requirement.
Way back when I was first doing my intial flying lessons I looked into it. The way we looked at it the only way to do it was to go to the states to enjoy the weather to get enough hours in quickly enough, but still worked out around 40k+ ( which was a lot of money back then - from memory!)
Another guy borrowed it from his inlaws..who were luckily in a position to be able to afford to load him such a figure. I had no one who could loan me that kind of money at that time and when I considered my age and the regular health checks involved in being a commercial pilot above a certain age it just put me off.
It may be being massively overly cautious but I just imagined spending 40k+ to get my licence, finally being lucky enough to get a job with an airline then failing a health check 6 months after qualifying and ending up being pretty much unemployable in the industry after that...
I still regret what might have been however!
Especially considering the guy who borrowed the money now flies 747s .... but more of a case of luck and who you know, not what you know to get there..
Another guy borrowed it from his inlaws..who were luckily in a position to be able to afford to load him such a figure. I had no one who could loan me that kind of money at that time and when I considered my age and the regular health checks involved in being a commercial pilot above a certain age it just put me off.
It may be being massively overly cautious but I just imagined spending 40k+ to get my licence, finally being lucky enough to get a job with an airline then failing a health check 6 months after qualifying and ending up being pretty much unemployable in the industry after that...
I still regret what might have been however!
Especially considering the guy who borrowed the money now flies 747s .... but more of a case of luck and who you know, not what you know to get there..
Im 27, with a reasonable job and my own house (mortgage!!). Unfortunately no very rich parent/inlaws to lend me 40k, and while there is some equity in the house I wouldnt want to sell it. Would have to either be financed or done over a long period of time while keeping my current job.
If you're considering the modular route (£40-50K ish) then don't be under the impression you'd have to stump up that amount in one go.
One of the benefits of modular is you pay as you go, so that £50k will be spread across however long it takes you to get qualified. I'm currently doing my PPL with a view of going down the modular route to an ATPL...all being well.
One of the benefits of modular is you pay as you go, so that £50k will be spread across however long it takes you to get qualified. I'm currently doing my PPL with a view of going down the modular route to an ATPL...all being well.
A friend has just completed flight schooling for Qatar Airlines.
He basically takes a loan that is secured against parents' rental property, but Qatar provide accommodation in Southampton and New Zealand but living costs are from their own pocket.
Qatar then pay off the loan in chunks though his service and obviously the tax implications are far simpler given the location.
He basically takes a loan that is secured against parents' rental property, but Qatar provide accommodation in Southampton and New Zealand but living costs are from their own pocket.
Qatar then pay off the loan in chunks though his service and obviously the tax implications are far simpler given the location.
HOGEPH said:
Looking at the situation today, I was so lucky to be sponsored for my CPL(H) by Bristow Helicopters back in the late 80's. I couldn't afford the 40 grand needed then, and if I hadn't had that chance, I'd still be putting up plasterboard for a living.
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