Tricky. So much depends on personal circumstance.
Right now I think its wise to pause at the CPL stage. It had 5 years to run. The IR only one. An MCC is fine as its just a tick in the box for life.
Before doing a FI rating I would approach a few local schools and ask to talk to the CFI (you buy the tea/beer). Sometimes you can get yourself an IN to that school by stating you live nearish and you want to work at his school. What are his recruitment plans, what would he advise, can you do my FI rating...
Flatter the guy and maybe in a few months time when you have your rating he will put you are the top of the pile. I've seen this happen and did something similar myself. I talked to my first employer in 1997 about being an FI there. In 1999 I walked straight in because I was local, I was known to them and I was lucky with timing. I actually replaced a FI who flew into a mountain a month prior.
The FI is going to cost you £5.5k. Its going to take a while to pay that back so be careful. At this precise moment there are no jobs available for a new FI with no contacts. I know this as I have 4 friends who are FI's of varying levels of experience who cannot get a job or if they can it is so lean as to be impossible to do and pay the rent.
This is peak season and the Winter is approaching...
Lots of fATPLs are finding no jobs and are diving into FI ratings as a measure of last resort. The market is therefore somewhat flooded. There are always exceptions to the rule and I am sure one will pop up here soon.
If I were you I would:
Complete CPL
Go back to the best paid work I could find.
Use money to pay rent and then IFR sim hours.
Prepare for the IR at least an hour a day by whatever means.
Do the MCC.
Network.
Do the IR towards the end of next year.
If no joy within 6 months do an FI rating in the early Spring of 2004.
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