Easyjet New Ab-initio scheme :)
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I haven't had a chance to read the scheme details yet but from what I've just read here - I will be very interested to see who ends up getting onto this scheme. There can't be many with 104k kicking around in current lending conditions from whom EZY can pick.
I still agree with Bealzebub's opinion that "...when expansion returns, the growth will come through these programmes" (or at least in time it will) but I had perhaps been naive in hoping that as they resurfaced the propositions might have been a bit more realistic than this. In particular regarding funding solutions.
Back to watching with interest...
I still agree with Bealzebub's opinion that "...when expansion returns, the growth will come through these programmes" (or at least in time it will) but I had perhaps been naive in hoping that as they resurfaced the propositions might have been a bit more realistic than this. In particular regarding funding solutions.
Back to watching with interest...
If people are willing and able to apply (and they will be) then this is just price discovery. The real wonder is just how much further this can go. £120k? £150k?
I have absolutely no idea where the money keeps flowing from?
Wanabees have been locked into financial arms race for some years now. It's sad but there is no end in sight that I can see.
WWW
I have absolutely no idea where the money keeps flowing from?
Wanabees have been locked into financial arms race for some years now. It's sad but there is no end in sight that I can see.
WWW
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I have absolutely no idea where the money keeps flowing from?
WWW
The OAA website has been down for a bit, are there that many applications?!?! or perhaps it's just planned maintenance?
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i'll have a wild stab in the dark as to where the money is coming from..
the early 20's groups are having a very tough spot looking for potential careers that could have some future solidity, some may have even been to university and obtained a descent degree, yet the job market is bleak.
step forward the FTO's with their shiny brochures and 'killer' websites... 'yes you too could be earning 100k+ PA plus as a commercial pilot, with a white shirt, smiling face and gold bars on your shoulders...'
.. so the parents are probably taking equity out of their homes or taking on additional debt themselves in order to give their children a solid start that could see them earning enough and founding a solid career.
Of course the FTO's dont give a flying fig if come the end, cadet isnt going to get a job, if they might it'll be working for what ever bone the cadet is thrown, with either a mountain of debt or the partents who were trying to give their children the best start they can loose their home/pension over it.
the early 20's groups are having a very tough spot looking for potential careers that could have some future solidity, some may have even been to university and obtained a descent degree, yet the job market is bleak.
step forward the FTO's with their shiny brochures and 'killer' websites... 'yes you too could be earning 100k+ PA plus as a commercial pilot, with a white shirt, smiling face and gold bars on your shoulders...'
.. so the parents are probably taking equity out of their homes or taking on additional debt themselves in order to give their children a solid start that could see them earning enough and founding a solid career.
Of course the FTO's dont give a flying fig if come the end, cadet isnt going to get a job, if they might it'll be working for what ever bone the cadet is thrown, with either a mountain of debt or the partents who were trying to give their children the best start they can loose their home/pension over it.
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We all have to take risks in order to achieve our goals. Some risks work out and others don't - it's all about a calculated risk.
As I see it there are risk on both sides:
The Individual - A financial risk with NO GUARANTEE of a job. However, it seems to me that OAA/Easyjet have put a rigorous selection procedure in place to select candidates that are likely to achieve extremely high standards and to be a lower training risk. The onus will then be on the individual to maintain high grades throughout the course and line training in order to gain employment with EZY/Parc.
OAA - They have put a selection procedure in place to ensure the lowest risk candidates are chosen. However, if they get it wrong and the individual is either chopped by OAA or Easyjet then OAA will do what is nescersary to transition that person over to a normal "(frozen) ATPL" at their expense.
So to the maths :-s
APP Course = £75k PLUS living expenses, PLUS a type rating (possibly). I believe a type rating ranges from £25k-£35k if self funded.
MPL Course = £85k INCLUDING a Type Rating, PLUS living expenses.
Taking all of the above into consideration and the potential gain at the end of the course I think I will be tempted to apply and invest in my future.
Good luck to everyone
As I see it there are risk on both sides:
The Individual - A financial risk with NO GUARANTEE of a job. However, it seems to me that OAA/Easyjet have put a rigorous selection procedure in place to select candidates that are likely to achieve extremely high standards and to be a lower training risk. The onus will then be on the individual to maintain high grades throughout the course and line training in order to gain employment with EZY/Parc.
OAA - They have put a selection procedure in place to ensure the lowest risk candidates are chosen. However, if they get it wrong and the individual is either chopped by OAA or Easyjet then OAA will do what is nescersary to transition that person over to a normal "(frozen) ATPL" at their expense.
So to the maths :-s
APP Course = £75k PLUS living expenses, PLUS a type rating (possibly). I believe a type rating ranges from £25k-£35k if self funded.
MPL Course = £85k INCLUDING a Type Rating, PLUS living expenses.
Taking all of the above into consideration and the potential gain at the end of the course I think I will be tempted to apply and invest in my future.
Good luck to everyone
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Depends on the compensation details; if the offer is for a permanent, full-time job as FO with remuneration that allows the individual to live reasonably well after loan repayments, then it may be worthwile pursuing.
In the absence of that ...it's a poor investment.
In the absence of that ...it's a poor investment.
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So to the maths :-s
APP Course = £75k PLUS living expenses, PLUS a type rating (possibly). I believe a type rating ranges from £25k-£35k if self funded.
MPL Course = £85k INCLUDING a Type Rating, PLUS living expenses.
Taking all of the above into consideration and the potential gain at the end of the course I think I will be tempted to apply and invest in my future.
APP Course = £75k PLUS living expenses, PLUS a type rating (possibly). I believe a type rating ranges from £25k-£35k if self funded.
MPL Course = £85k INCLUDING a Type Rating, PLUS living expenses.
Taking all of the above into consideration and the potential gain at the end of the course I think I will be tempted to apply and invest in my future.
but as howfly says....... how come FTE/FLYBE do it all for 80 Grand. no extra 18Grand for accomodation and living etc. That is included. Just bring beer money and swimming shorts. the beer does not cost 18 Gs in Spain.....unless you have a serious liver problem. I doubt it could be a lesser course, hence cheaper. The CAA would never have allowed it to happen.
And failed courses/TRs stickout a mile away when trying to move on. Ask any airline recruitment team. But at least i could have spent all that money to be an air taxi operator post CPL/IR conversion. Not that i see EZY having to drop people due to lack of flying posts. If anything, i see more of the courses running after this one.
Calculated risk indeed.
EZY and OAA are the winners here.
What are the pay scales for the rich....erhem...i mean successful?
Poeli,
Can't see that happening.
What bank in the United Kingdom is going to lend £104,000 to god knows how many wannabes for this shambles of a scheme?? None that I can see!
As already mentioned the only people that will be applying to this is ones with daddies money.
HidekiTojo,
That just sent shivers down my spine.
This is really going too far imo. How long do you have to pay back to the banks? +10 years?
What bank in the United Kingdom is going to lend £104,000 to god knows how many wannabes for this shambles of a scheme?? None that I can see!
As already mentioned the only people that will be applying to this is ones with daddies money.
HidekiTojo,
£104K @ 7% = Approx £1.2k per month for ten years.
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It will be interesting how this impacts on CTC, which has long enjoyed a relationship with EZY.
Are we now at the stage where the airlines ask the FTOs to submit bids for how much they will be able to generate off each "student" in return for the airline granting the FTO such a scheme?
It really does show what little regard the airlines have for their first officers if this is the means of selection. In simple numbers, this means earning £150k gross to pay back the £100k.
It's unbelievable that we are back to the days of "paying for your commission."
Are we now at the stage where the airlines ask the FTOs to submit bids for how much they will be able to generate off each "student" in return for the airline granting the FTO such a scheme?
It really does show what little regard the airlines have for their first officers if this is the means of selection. In simple numbers, this means earning £150k gross to pay back the £100k.
It's unbelievable that we are back to the days of "paying for your commission."
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Compensation details are out - it's flexicrew conditions. There is a gurantee of min 200 hours in the winter. Based on 750 hours a year and 4 standbys a month one should be compensated with £46,000 p.a.
The hourly rate increases after 500 hours and 1500 hours. I believe the rates are 50/55/67 from another post but don't quote me. This means one should expect £62,000 p.a. after 2 years. No gurantees ofcourse.
Still the initial outlay is just too high for me. Good luck for anyone who can afford this!
The hourly rate increases after 500 hours and 1500 hours. I believe the rates are 50/55/67 from another post but don't quote me. This means one should expect £62,000 p.a. after 2 years. No gurantees ofcourse.
Still the initial outlay is just too high for me. Good luck for anyone who can afford this!
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As I see it there are risk on both sides:
The Individual - A financial risk with NO GUARANTEE of a job. However, it seems to me that OAA/Easyjet have put a rigorous selection procedure in place to select candidates that are likely to achieve extremely high standards and to be a lower training risk. The onus will then be on the individual to maintain high grades throughout the course and line training in order to gain employment with EZY/Parc.
OAA - They have put a selection procedure in place to ensure the lowest risk candidates are chosen. However, if they get it wrong and the individual is either chopped by OAA or Easyjet then OAA will do what is nescersary to transition that person over to a normal "(frozen) ATPL" at their expense.
So to the maths :-s
APP Course = £75k PLUS living expenses, PLUS a type rating (possibly). I believe a type rating ranges from £25k-£35k if self funded.
MPL Course = £85k INCLUDING a Type Rating, PLUS living expenses.
Taking all of the above into consideration and the potential gain at the end of the course I think I will be tempted to apply and invest in my future.
The Individual - A financial risk with NO GUARANTEE of a job. However, it seems to me that OAA/Easyjet have put a rigorous selection procedure in place to select candidates that are likely to achieve extremely high standards and to be a lower training risk. The onus will then be on the individual to maintain high grades throughout the course and line training in order to gain employment with EZY/Parc.
OAA - They have put a selection procedure in place to ensure the lowest risk candidates are chosen. However, if they get it wrong and the individual is either chopped by OAA or Easyjet then OAA will do what is nescersary to transition that person over to a normal "(frozen) ATPL" at their expense.
So to the maths :-s
APP Course = £75k PLUS living expenses, PLUS a type rating (possibly). I believe a type rating ranges from £25k-£35k if self funded.
MPL Course = £85k INCLUDING a Type Rating, PLUS living expenses.
Taking all of the above into consideration and the potential gain at the end of the course I think I will be tempted to apply and invest in my future.
If the cadet craps out at any stage, they will be dumped off the MPL to, not an ATPL as you state, but a CPL/ME/IR with ATPL theory course. Will that include a TR or will the cadet have to cough up extra for that ?
flyboyweeksy, if you consider the scheme to be calculated risk worthy of consideration i've got a nice bridge in Brooklyn for sale for you.
or are you a sock for OAA?
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Originally Posted by Davey07
Quote:
That just sent shivers down my spine.
£104K @ 7% = Approx £1.2k per month for ten years.
That's the good scenario. If this little flutter doesn't turn out too well, then it's also heartening to know that their parents will either work for another 10 years or will sell their house to keep my dividends payments coming.
Either way, I'll still get paid.
Long may it continue. And the best bit is they're keeping the cost of my family vacations down with all their financial subsidies to the airlines!
Keep it coming!
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Were bloody professionals who have worked hard to be in the position to apply.
The acceptance of whatever terms and costs for little reward, regardless of their financial implications, allows for a slow degredation of our terms.
Joining this scheme mereley exacerbates the problem.
The acceptance of whatever terms and costs for little reward, regardless of their financial implications, allows for a slow degredation of our terms.
Joining this scheme mereley exacerbates the problem.
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I am an aspiring wannabe looking to break into the industry and EZY scheme has caught my attention. To serve as a back up I did a degree in Mechanical Engineering and a Masters in Sustainable Energy, I now have a job with a booming company and on a program that is intended to propel me into middle management in a short space of time, with the goal being senior management in 10 years or so. I am on a much better salary than a new FO would be with pretty much no debt hanging over me. The company are paying for me to travel throughout the group internationally, it really is a great set up.
But its not what I want.
I covet the idea of getting into the RHS of a plane and working my way up to being captain. Its all I ever wanted. I'm not a sucker for the BS that FTO's throw at me. I'll be very wary before I commit to anything and do as much research as I can.
@bangout: The last thing us new fish want to do is undermine your profession by accepting appalling terms and conditions. I know you have worked hard to get where you are and deserve the salary and T&C's of days of old, but how else are the likes of me supposed to break into the industry. The FTO's and airlines have us by the short and curlies; they know our desire to get into the industry and, as pointed out before, the accountants that run the FTO's and airlines play on this to crunch down their expenditure and increase their recovery by offering us awful conditions at insanely high prices.
If I was to go for this scheme unfortunately Daddy has no money either so I'd have to back myself. I'm leaning towards 27 and would like to be trained and flying before I want to settle a bit and do the whole family and wife thing in my early 30's, so thieving schemes like the one's on offer seem to be my only chance of getting into the industry.
If there's a solution to boycotting these types of schemes and still landing a job, and not joining the thousands of inexperienced unemployed pilots, I'm all ears. I welcome any thoughts or criticism!
But its not what I want.
I covet the idea of getting into the RHS of a plane and working my way up to being captain. Its all I ever wanted. I'm not a sucker for the BS that FTO's throw at me. I'll be very wary before I commit to anything and do as much research as I can.
@bangout: The last thing us new fish want to do is undermine your profession by accepting appalling terms and conditions. I know you have worked hard to get where you are and deserve the salary and T&C's of days of old, but how else are the likes of me supposed to break into the industry. The FTO's and airlines have us by the short and curlies; they know our desire to get into the industry and, as pointed out before, the accountants that run the FTO's and airlines play on this to crunch down their expenditure and increase their recovery by offering us awful conditions at insanely high prices.
If I was to go for this scheme unfortunately Daddy has no money either so I'd have to back myself. I'm leaning towards 27 and would like to be trained and flying before I want to settle a bit and do the whole family and wife thing in my early 30's, so thieving schemes like the one's on offer seem to be my only chance of getting into the industry.
If there's a solution to boycotting these types of schemes and still landing a job, and not joining the thousands of inexperienced unemployed pilots, I'm all ears. I welcome any thoughts or criticism!
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I'm 21, I'm a wannabie and I just got deselected as a pilot from the air force
Pretty much at rock bottom, but I'm not willing to have the p**s taken out of my perpetual enthusiam and drive with the sort of nonsense the FTOs are throwing at us ATM
Pretty much at rock bottom, but I'm not willing to have the p**s taken out of my perpetual enthusiam and drive with the sort of nonsense the FTOs are throwing at us ATM