Re: Flybe MAPS Scheme
FTE's current cost for their integrated course is £63,216 (today's Euro to Pound rate). The question here is are the "Mentored" pilots going to be on the same FlyBE salary scale as Direct Entry pilots or Sponsored pilots? I hope it's not the Sponsored rate cos that would be a bloody joke.
According to PPJN.com, year 1 on turboprops gets you £26,716 if you are on the Direct Entry pay scale. £22,756 if you are on the Sponsored Pilot pay scale:
Year Pay
5 28816
4 28291
3 27766
2 27241
1 26716
For those that go into this with very small funds you are looking at a £60,000 loan minimum with interest this is going to cost you £84,000 over 12 years or £583.33 every month for 12 years. If you want to pay it back in 6 years (which I think most sensible human beings would want) you will have to fork out £1,000 per month. All this out of your own salary. How can anyone manage £1,000 for a loan, £700 for a mortgage, £200 on outgoings for 5 years on an average salary of £27,000 !!!
This kind of approach cannot work with a FlyBE turboprop salary. It's madness paying out that sum of money to guarantee a job which will pay you a mediocre salary for 5 years.
Why not spend £35,000 going the modular route, if it takes you 2 years to find a flying job so what. If you're on a crappy salary like the FlyBE one for 5 years then at least your not an extra £40,000 in debt. Chances are you will find a much better starting salary than that anyway.
I know we all love flying but for God sake don't let them take the piss!!!