Finance?

[BlueRobin]

With reference to those wannabes out there (and not to upset scroggs too much... ;))

Where do I get advice on obtaining and large amounts of cash, nay, debt and thus managing it during and after training? Are there any banks, institutions or places where I can obtain professional advice on this? Would be useful if they've handled potential pilots beforehand.

Thanks



-BR-

[Elvis21]

Do a search as there have been countless threads on this, then head off to blag your local unfriendly bank manager. If that fails, rob him

[BlueRobin]

Hi Elvis (the king lives, oh yeah baby)

Yes I am aware that this subject has been covered many times. However, the spurious info oft posted can be enough to put anyone off an airline career. :rolleyes:

On this topic, perhaps creating a handy FAQ (by a friendly mod) would help solve duplication of such issues. Get a charlie asking a question...point them to the FAQ! What could be simpler?

Assuming I can pass a Class One med (important 1st step), perhaps I can suggest an answer to my own question? Proper face-face careers advice is seemingly non-existant. Therefore, would my next best option be to sit down with several training organsisations and discuss costings, timescales and so forth? Once I have some figures and divulged any catches/hidden costs, I can then find out about the amount required and start planning finance (e.g. HSBC...)

Any thoughts? After all, planning prevents p*ss poor performance! :)



-Neil-

[Elvis21]

Before you start anywhere you do indeed need to discuss costs with the training school. What ever they tell you add another 20 - 25% and you will be somewhere nearer the mark.
Assuming you have no experience at all this will cost you the best part of 50-60K.

Your money lender is going to want to see a return in the not too distant future so you will also have to have some sort of repayment plan worked out.

If you are a graduate I would start with a graduate loan of £10k and go from there as the interest rates are pretty favourable at about 7%.

Hope this helps:D

[G-SPOTs Lost]

Asking the schools about career advice is like asking a great white for advice on safety at sea;)

[BlueRobin]

So what do you suggest Gspot? You can't criticise hen not suggest a remedy, otherwise your point is unbalanced.

[Bemused]

I think GSpots's post is a fair point - and the answer/solution would appear to be us, the humble aspiring pilot forking out huge sums of money.

There have been many points of view expressed concerning what to expect from an FTO. Some say that the FTO is there purely to train you, however I don't think that is good enough in a service industry and we should vote with our feet.

I don't feel it's unreasonable to expect some form of career advice - every university has a career advice department after all. An FTO that forms ties with airlines, freight companies, etc, offers a better service than an FTO taking your money and putting you in the sky. We're not aiming just to get in the sky, we're aiming to get into an airline!

If your FTO has given you excellent career advice/help - shout their praise here!

FAQs would be excellent! Moderators please take note!


Cheers

[foghorn]

Get Clive Hughes guide. That's a good starting point for costs - he keeps it updated with licensing and cost trends.

[Baldie Man]

Steer through the bollo and you'll find the 02FO "manual" is pretty useful too and a good motivational tool during those long & lonely hours studying for the ATPL writtens.

BM.

[G-SPOTs Lost]

So what do you suggest Gspot? You can't criticise hen not suggest a remedy, otherwise your point is unbalanced

Can if I want :p :D