Originally Posted by
Officer Kite
The only thing putting me off is that only in year 9 do you get the contract that a year 1 D/E FO would get. Maybe it's just me but that really stood out to me as something to be considered if you are able to secure funding for easyjet for example, you may well be a captain for them in that time. Whereas you would only be given the contract of a year 1 FO in Virgin. Serious considerations are required if you can afford other options.
You've highlighted a point that everyone applying for the Virgin MPL needs to consider.
There are many pilots out there who have trained for a lot less than £109k. They got their first jobs in the likes of Ryanair, Flybe, Easyjet etc. With three or fours years experience at the aforementioned airlines, these guys have been able to join Virgin, BA, Emirates etc on the full pay scale.
If you sign up to the cadet scheme you will be on reduced pay for nine years. Hypothetically, someone else could train modular, join Ryanair and three years later use their experience to get a job at Virgin or BA on £70k/yr and they would be ahead of you by a few years in terms of pay. It has happened!!!
What if you loose your medical and therefore can't fly as a pilot? - you still have to pay back all that money, and don't say you have Loss Of Licence cover, because it doesn't always payout!
No matter what way you choose to go you will take on significant risks, but you need to be sure about the decision that you take and its implications on your life for the next ten years.
Im not trying to write this scheme off. It may workout very well for some people. Just don't view it as a silver bullet solution!