I believe the following post is quite apt to the original poster
Reposted with permission courtesy of Mr. Sushil Bajpai
There was a time when the airlines around the world, paid for the type rating, in return for a bond to work for them for several years. That was the time before the airline industry got commoditized.
Now it was a race to the bottom, and continues that way today. Their margins have got eroded to less than 2%. Consequently, if the economy in one corner of the world, so much as sneezes, the airlines around the world, catch a life threatening flu.
The price volatility of fuel ensures a low immunity towards any shocks. High fuel prices send them in a crippling spiral. When the fuel prices go down, instead of recouping the losses or hedging against the future of high fuel prices, they wear out each other, selling tickets below par.
One of the direct implications of the cheap tickets is that the airlines stopped paying for the type rating. Initially the idea came in garb of loan, to be recovered from the salary. Then that pretence was gone as well. The prospective pilots needed to shell out the cost of their training upfront. While controversial, this is how the industry has organized itself. It is perhaps best to accept this, although in a country like India how fair is it for a large of people who can barely afford even basic flying is something that needs to debated.
But now the situation has taken an alarming turn. I read with growing concern, on this and other forums, that the desperate young pilots have taken this to another dimension. They are willing to commit to self-sponsored type ratings in a vain hope of landing a job in some unforeseen and unforeseeable future.
Type ratings on big jets are expensive affair. They need to be kept current. And keeping them current also costs money. Within the same type, there are several variants. Not only this makes the whole business very expensive, but sitting on ground, for anything more six months after getting a type rating also has safety implications.
This is a vicious cycle, which if left uncorrected, will lead to a situation where the young pilots will need to pay for type rating and also for flying till they get their ATPL and 500 hours on the type. The airlines would then become an extension of and behave like TRTOs.
While the low fare passengers add to the market share, the flying crew could contribute to the bottom line!
There is another aspect which we tend to ignore. A young pilot has just spend several Lakhs to acquire a CPL, ME, IR and is desperate for a job, for the independence that comes with it and to be able tell the parents that the money and effort is not wasted, to return the loans. It is potentially a very high stress situation.
I think we need to be honest with ourselves, and to seriously consider added expenses of type rating only when an airline at least offers an LOI. Otherwise the remedy may turn out to be worse than the disease itself.
What are therefore, the options. My suggestion is, accept that the big jobs will come when they come. In the meantime upgrade other qualifications, which come at much lower cost. They have added advantage of reducing the stakes and diversifying the knowledge and skill sets.
While one waits for the dream job, complete that graduation, which you left half way and go on to get post graduation. Seek other jobs related to flying training activities that keep you in touch with flying. Diversify your skill and knowledge set. Don't put all eggs in one basket.
There are any number of distance and online programs to enhance knowledge, skill and experience. Diversification is the key to successful adaptation. I see that many pilots quite wisely do just that.
Think through. Keep thirty Lakhs in bank. It's a lot of money and can help you make much more. Definitely don't take any loans to do that type rating for an elusive job, unless you have an LOI.
I write this as someone who has seen and lived aviation close up for well over thirty years. I love to fly. But I don't shy away from from other "mundane" jobs that help ensure that I fly.
I'm not saying anything new. Instinctively, we all know everything that I have said. Neither do I mean to discourage or to belittle passion for aviation. I just wish to caution against the actions (or lack thereof) that could lead to avoidable despair, hopelessness, and broken dreams.
I just want to be a voice of caution for the pilots thirty years younger to me, who will carry the burden of aviation upon their shoulders. I don't want those shoulders to sag under the insurmountable load that our dysfunctional system can create for the young and unwary.