X3K5, how ironic that by trying to clear things up and state facts, you end up confusing the situation even more.
First Year
£33,055
Second Year
£35,367
Fourth Year
£39,611
Bolleux (excuse my french). So 1st year cadet earns the same as 1st year FO full pay? Err, no.
I think you may find that the salaries quoted above are around 12k too high. You say that you got the info from the OAT forum? Methinks that they may be adding the £1000 pcm loan payments to the cadet salary to arrive at these fanciful figures. OAT in their true colours.
I've been on their forum a few times before and, quite frankly, it's scary what gets posted as fact on there (most of the time by OAT staff).
So some people are quite mistaken if they think its around £20K.
No,
you are quite mistaken. It
is around 20k (£20,843 according to TCX's own site).
Just look at the figures that femalewannabee posted the link to. Interesting that the difference between Cadet salary and FO salary is 13k every year. But only 12k gets paid to your loan.
Or, to illustrate the same point in a different light:
13k x 7 years = 91k lost income compared to an FO after 7 years.
Subtract training costs of 65k = 26k lost out. Not even a type rating of 20k (less for the A320) can account for this black hole.
That I believe is different to the OAT/TCA scheme.
Oh, really? So they have a second payscale which is also called 'Cadet Salary' which also runs for seven years, but pays nearly 60% more.
But, of course, they don't advertise this on their site. It makes sense to keep this a secret and only advertise the payscale which resembles that of a paper round.
Behave yourself.
I think that after all of this discussion, we can fairly safely say this:
The benefit of this scheme to the trainee is that they get a good chance of going straight into the RHS of a jet. However, for this you do actually pay more.
The main benaficiary of this is the airline who gets a cadet who costs much less than a standard FO (even with loan payments taken into account) for seven years. During this time, there is the added benefit of them not banging on about command positions and absolutely no risk to TCX whatsoever.
The other obvious winner is OAT. They get X candidates on an APP course and a good relationship with TCX, not to mention all of those 200 quids for selection. Again, no risk whatsoever.
All of the above is fine, except the way it is marketed. For the more experienced, we can see this scheme for what it is. However, when the details include spin such as:
Refund of your APP FO training and associated costs through employment with TCA
graduates will achieve significant financial benefit compared to the more usual situation of repaying these training costs themselves out of a normal First Officer net salary.
TCA will repay the graduate's actual OAT training and CAA costs
you can see that they are trying to make it look like somthing it isn't. This is likely to appeal to the younger wannabees who are at the 'I just want to be a pilot and don't care how much it costs' stage.
It just isn't a good financial move. And TCX/OAT are either fibbers or have dodgy calculators.
EK