Well to use mates of mine as an example, have several at RYR, one just became captain with minimum time, just over 3 years with the company.
Another who started last summer, passed his 500 hour mark before christmas, and is now on the 75 Euro an hour, and for the summer located to Stansted, and doing 80 - 100 hours a month in the summer months.
That is not bad for either of these!
I am aware that the winter months can be low hours, however you need to balance 900 hours over the 12 months anyway, so you just need to balance your budget over the 12 months - and hope you get as close as possible to those 900 hours a year!
Cowhorse, what do you base your numbers on?
I do agree the 737 rating has a very limited market, but to say that the guys are not able to move on after they reach 1500 hours is not correct, an they do not spend more than 2 years to get to 1500 hours!
Of course I can only base this on the people that I actually know that works there.
Yes it does cost more than 27.000 Euros, probably total around 40.000 Euro as you mention, when you add on all the extras.
However if you fly max hours first year, that gives you 55.000 Euros, which as far as I know most people end up doing during the 12 months (900 hours)
Your TR will be completely deductible, so what you would be paying in taxes, has gone to pay for your TR instead, that's the reason they set you up as a limited company.
Second year you will be on around 67500, note this is all before tax of course.
But as I mention your TR cost will take care of most of what you would have to pay in tax anyway, so you actually end up with very little actual cost for your TR, as it is a business expense, which is fully deductible!
For a newly trained pilot, 21 years old, it is a fantastic chance, anybody saying something else is probably just a bit bitter because they did not get the chance themselves.
If done modular, I actually believe you can do for less than £60.000 Pudoc, probably around £40.000 - £45.000 from Zero, but is correct, you still have money to spare compared to the integrated courses, let's be honest, these jobs are the best chance modular have to get airline jobs.
I recall at Oxford for the MCC, their own cadets, who had already payed close to £100.000, was desperate to spend another £30.000 to get into Ryanair, that's when you have to question sanity, or should I say the lack of it!
Another thing, better to be a 500 hours B737 pilot, than a fATPL with no TR and no hours, 300 hours SEP! Seriously, see the perspective of the reality, you have to be in it, to have a chance to compete!