Oh dear, here we go again
I was also unsuccessful. However, my perspective is totally different from yours David. Had I got through the sim ride I would have gone for this like a shot (as presumably you would have; otherwise why did you apply?).
You are right in that this has been done to death. However, I question your pal’s understanding of the economics at play.
Q Do you pay for your own training?
A No, CTC pay for it during your training, then the airline pay them.
Q But you hand over £60K to them.
A Yes, but they give it back to you.
Q Ah, yes, but you have to give it to the airline.
A Yes, and they give you £84K back!
Q But don’t you pay for it later by accepting a lower salary?
A Lower salary than what? That’s like saying my breasts would be bigger if I was a woman; quite likely, but I’m male. If you pay for your own training you have just over a zero chance of landing the same job on a direct entry FO salary.
Q But don’t the airline pay for your training out of the savings they make by employing you rather than recruiting a direct entry pilot.
A Yes they certainly recoup some of the costs; not all, but some of them. A bit like the old BA cadet scheme did.
If you don’t like it, don’t apply. You could always do what I’m now struggling to do – pay for your own training then hope like hell to get some sort of employment to service the debt. I’m under no illusions; it will take me years to pay off my training costs and years to get a FO job with the likes of Thomas Cook or easyJet. If and when I get there I will need to earn a direct entrant salary to pay my debts and interest. Unfortunately I’ll be paying that out of taxed salary and I’ll be miles behind the cadets in terms of career development and seniority and hence earnings.
IMHO CTC McAlpine have come up with a brilliant scheme and, with the airlines they are supplying, are doing some lucky wannabes a great favour. It was worth speculating £160 to see if I could be one of them.