Help needed! - to spend 20.000£ for the first job or not?

[dilemma_pilot]

Hello

I would like to know the opinion from you folks. The thing is, that I have been offered to fly a twin turboprop (50 pax size) for a smaller company. However, I am to show up with a typerating myself. I have investigated in what the price is for such a TR and it appears to be in the area 20.000 - 22.000£. I already have a debt on approximately 40.000 £ for my ab-initio. I have been cleared by my bank to lend the extra 20-22.000.

What would you do?

FYI, I am a lowtimer, it is a permanent postion, the salary is 20.000 £ a year, 500 hrs of flying pr. year.

Thank you for you help

Pilot in dilemma

[Token Bird]

You have 2 choices:

1. Borrow the money and take the job
2. Keep looking for a position

You need to work out the financial viability of each option. Calculate how long you would have to continue being jobless before it reaches the point that you would have been better off making the investment. Then think about the likelihood that you will find another position within this time.

Personally, I don't think I'd want to work for a company that made me buy my own type-rating, but it's up to you,

TB

[swiftlee]

do the maths.

60K repaid over 10yrs (approx 9%interest) has repayments of over £780 per month.

income of 20K per annum gives about £1200 net per month. can you live on (1200-780) around £400 per month? if so do it.

[RVR800]

Try and get the 9% down

www.easy-quote.co.uk (http://www.easy-quote.co.uk)

What about HSBC 2 over base and delayed start
payment

[Sagey]

What about talking to the airline, and hope to come to some sort of arrangement.

Get a contract stating that they can deduct an ex amount of money per month from your wages towards the cost of the TR, and that you can pay money into the fund whenever you have any available cash.

If you leave the airline for another job etc, then you will pay the remainder in full.

Will save on interest, probably won't hit you as hard in the pocket due to no interest. And if the time comes when you are offered that job with more money, you will be in a better financial position to get a loan and afford the repayments without any hardship.

Only a thought, it shows you are keen to take the job.

On the other hand the fact that you are expected to pay could show warning signs, ie they are in financial difficulty, although they could just be pissed off with being used as a stepping stone in career development and therefore don't want to be continuously forking out 20k.

Sagey

[dilemma_pilot]

Thanks all

Token Bird - I have come to the same conclusions and I think that I would probably be better off taking the job in terms of seniority etc. However, I also have a bit of a problem with regard to your last point.

Swiftlee - I have actually gotten a better deal with the bank, so I have no problems in living for the remaining amought. Of course it won't be much fun but hopefully it will lead to a better paid job in time (or higher salary within the same company).

Sagey - That's how they used to run the recruitment. But not any more, they only hire typerated pilots now. Good points about their financial situation - I'll check up on it (although I'm quite sure it's for the last reason).

Thanks again

[Loony_Pilot]

Hi,

Which company???
I would stump up the money for a type rating if I could get a job out of it.....

Best of luck

LP

[Approaching_the_minimums]

hi people,

my opinion is : PLEASE DON'T DO THIS! For the sake of all of us. I too, have about a 50.000$ loan to pay back and I refuse to spend even more. My school offers an MCC for a very competitive price but I won't do it just out of principle.

You have to ask yourself how far this industry has come. First they make you pay for your own training (allready a total discrace, certainly with our own governements turning their backs on us), then they wan't you to pay for the MCC and now they want you to pay the type-rating yourself! What's next? They're gonna have us work for free? The only way to stop this, is if all pilots say NO to this kind of discrimination: I've never heard of an engineer or for that matter a tube driver pay for his training, so why should we?

Am I the only one who sees it this way? Your opinions please

greetz
ATM

[dilemma_pilot]

Approaching_the_minimums

I appreciate your point, however, I don't totally agree. I think there is a big difference in pay for training and paying for a TR. In this instance I am hired on equal terms to all other employees. Previously you had to sign an agreement with the company that bound you for several years. Should you leave before time you had to pay some of the TR. The advantage in my case is that I'm not bound by the company. I can leave whenever I want. Do you think that bonding is unfair as well?

The MCC is part of the JAA professional pilots education, I don't think that the company should pay for that. They did not pay your ATPL theory either.

Anyway I have made up my mind. I will do it.

[seadog]

I would stick out for a proper job. I'm currently type-rating on the Bae ATP and only bonded to the company for £10,000/ 2 years after which the slate is wiped clean. £20,000 for a type rating sounds horrendous and it would probably be better to spend a fraction of that on piston twin hours to make yourself more attractive to a "proper" employer.

[jester41]

Seadog how is the course.

[ronchonner]

it s hard to get the "first job", but you could get a first job by not paying.
once you have the hours, you will fly biger and biger airplane and people will pay your training.by experience, people paying to work are never repected(you will clean the car of the boss...)!
it s plenty of job in africa on cessna 210 or else(I was there), why do nt you go there?
let s be ridicule:I have a job for you as a f/o on the falcon 50.Come with a type rating and you have the job.then I will ask you to come with your own plane...and with customers.
seriously, stop to pay these guys, start to fly and be paid for what you like to do:fly!

[dilemma_pilot]

Seadog - The money is not to be paid to the employer but to the company that is to do the typerating. I have checked with different companies that does TRs on the aircraft in question and that is the price.

Ronchonner - It's a question of which is more viable. If it takes me 2-3 year before my flying time is attractive, I will be better off economically paying the money now. If I was to fly in Africa, I would be bankrupt in two months. I'm not paying to work, I will get a decent salary. It's a regular flying job at a smaller but respectable airline and doesn't involve washing anyones car.