Having got a degree - training or job?
Hi there, this is my very first post, so please don't shoot me down just yet!
It is very interesting to read all the threads on whether having a degree is necessary/important/worthwhile/useful in getting into this industry. Along with many, many others here, I have always had the dream of being an airline pilot. After my A-Levels, 4 yrs ago, I had the dilemma - Uni or flying? With the lack of sponsorships offered by airlines, I came to the decision to go to University mainly due to the reason that it would give me a back-up, and that I was fortunate enough to be able to get into a reasonably good Uni. It was very difficult to refuse the temptation of starting training then, but the horrible thought of a 60k loan and the fact that a degree would hopefully be a back-up meant University was, for me, the sensible option.
At the time I chose Physics to study as it was in fact the subject that I enjoyed most. Hopefully it could be somewhat helpful when it comes to flying too but that wasn't the reason that I chose Physics. I'm now coming to the end of my degree in June having had a great time and would dearly love to start to train for my ATPL. However, since sponsorships etc are clearly not on the cards still (in the near future at least), I am faced with a similar dilemma - loan+training or job?
I was wondering if there are any people out there who are/have been in the same position as what I am in now, and what thoughts you have? Loan+training or job?
Having a degree appears to be have limited benefits when it comes to applying to schemes as it is not a requisite and certainly if you are self-funding a course it is not necessary at all. But I can't help but think that having a Physics degree could enable me to get a job that would enable me to save the 60k in less time than if I didn't have it.
Do you think it is wise to go and earn (and save) some cash and experience, then go for it once the cash has been raised? Or to bite the bullet now while I am still young?
The issue of age also comes into play if I was to go for the job option. I am 22 and just finishing Uni, so by the time I've earnt enough cash to pay for a 60k course I'll be close to 30 (depending on job and how efficient I am at saving cash obviously). This could be a disadvantage of going for the job option.
On the other hand, saving 60k by working for ~10 years is perhaps financially safer than getting a 60k loan and paying back 60k+5%APR for 12-15 yrs after training.
If anyone is/has been in a similar situation and could share their thoughts/experience, that would be a great help.
Many thanks,
RP