Goldman Sachs vs Legacy carrier
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Joined: Dec 2016
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From: bullpen
Goldman Sachs vs Legacy carrier
So I used the search function. Couldn't find a thread quite like this so here goes:
I'm from the Middle East. I've been fortunate enough to secure an offer from a big bank as well as a legacy carrier for their fully sponsored scheme. Both jobs would allow me to stay in the region. As you can probably imagine, I'm in a huge dilemma right now as to which one to go for.
Flying would be a no brainer, but looking at how the "race to the bottom" has started in some parts of aviation, I dread to think what the working conditions would be like 40 years down the line. On the other hand, it's a fully sponsored scheme at a reputable airline which gives me some hope for the future.
Investment Banking offers a great career progression and pays well, but I'm pretty sure I'll find the grass greener at some point in the future. Plus in the part of the world I reside, there is no LCC hiring pilots straight out of flying schools like crazy which seems to be the case in the EU. Not having access to such LCCs means a lack of entry-level flying gigs. This makes me think it's the only real opportunity where I can break into airline flying.
What do you think? Is the flying career that worth it?
I'm from the Middle East. I've been fortunate enough to secure an offer from a big bank as well as a legacy carrier for their fully sponsored scheme. Both jobs would allow me to stay in the region. As you can probably imagine, I'm in a huge dilemma right now as to which one to go for.
Flying would be a no brainer, but looking at how the "race to the bottom" has started in some parts of aviation, I dread to think what the working conditions would be like 40 years down the line. On the other hand, it's a fully sponsored scheme at a reputable airline which gives me some hope for the future.
Investment Banking offers a great career progression and pays well, but I'm pretty sure I'll find the grass greener at some point in the future. Plus in the part of the world I reside, there is no LCC hiring pilots straight out of flying schools like crazy which seems to be the case in the EU. Not having access to such LCCs means a lack of entry-level flying gigs. This makes me think it's the only real opportunity where I can break into airline flying.
What do you think? Is the flying career that worth it?
Joined: Aug 2012
Posts: 29
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From: Dubai
Interesting question. Firstly I'd advise trying to work out your own motivation/career aspirations. If you're looking to just make a shed load of cash then take the Goldman offer - it's a no brainer. However, if the desire to fly overrides the cash element then you may want to consider the cadetship.
I've built a career in IT, primarily in banking both IB and retail. I can assure you that if you join Goldman you will be working crazy long hours under extreme pressure. I'm not for one minute suggesting the conditions will be worse than aviation, but IBs certainly want their pound of flesh.
From reading a number of posts on this forum, there seems to be a growing number of older guys (myself included) who've built a first career and are considering switching to aviation. The advantage of this is firstly you have the cash to fund your training and secondly have something to fall back on if flying doesn't work out. If you're early 20s why not take the banking offer and fly at weekends. Once you've established yourself in finance then you can consider pursuing aviation as a plan B with some money in the bank and a career to fall back on.
Good luck...
I've built a career in IT, primarily in banking both IB and retail. I can assure you that if you join Goldman you will be working crazy long hours under extreme pressure. I'm not for one minute suggesting the conditions will be worse than aviation, but IBs certainly want their pound of flesh.
From reading a number of posts on this forum, there seems to be a growing number of older guys (myself included) who've built a first career and are considering switching to aviation. The advantage of this is firstly you have the cash to fund your training and secondly have something to fall back on if flying doesn't work out. If you're early 20s why not take the banking offer and fly at weekends. Once you've established yourself in finance then you can consider pursuing aviation as a plan B with some money in the bank and a career to fall back on.
Good luck...
Joined: Feb 2005
Posts: 995
Likes: 99
From: Botswana
John Smith is the ultimate archetypal poster boy for the term "troll". Deems himself above aviation, it was boring and unchallenging for him, yet now he has "happily" left the industry he continually visits this website to post his venom. It's quite laughable.
Joined: Sep 2016
Posts: 565
Likes: 0
From: N/A
42 years ago, there were four of us getting our PPL's together.
#1/ Is a Captain at a British airline.
#2/ Is a Captain at a Middle East airline.
#3/ Is a Captain at a US airline.
#4/ Was torn between becoming an airline pilot or taking over his fathers company when he retired.
He now owns a very successful company and has a Beechcraft King Air 350 as his personal/company plane.
Who did the best?
I'm completely satisfied with my lot in life, but if you consider money and life style, then I would consider #4 the winner.
#1/ Is a Captain at a British airline.
#2/ Is a Captain at a Middle East airline.
#3/ Is a Captain at a US airline.
#4/ Was torn between becoming an airline pilot or taking over his fathers company when he retired.
He now owns a very successful company and has a Beechcraft King Air 350 as his personal/company plane.
Who did the best?
I'm completely satisfied with my lot in life, but if you consider money and life style, then I would consider #4 the winner.
Joined: Dec 2001
Aviation Qualifications: ATPL
Posts: 3,759
Likes: 424
From: GA, USA
No reason you can't do both.
You didn't post your age but no reason you couldn't work for GS for a number of years then enter the aviation market.
Globally the market is pulling itself out of a recession (they say) so it should only get better.
Be smart though and safe you money so you don't need a loan when you make the jump.
You didn't post your age but no reason you couldn't work for GS for a number of years then enter the aviation market.
Globally the market is pulling itself out of a recession (they say) so it should only get better.
Be smart though and safe you money so you don't need a loan when you make the jump.
Joined: Sep 2016
Posts: 565
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From: N/A
I did not stay in touch with many school chums.
But one friend made it big in 'The City' in the insurance business.
By the time he was 44 years old he was burnt out and washed up.
He sold up and bought a chateau in France.
I have been a major airline Captain for the last 26 years.
I can honestly say I've enjoyed every minute of it.
Except being furloughed and going on strike.
I intend to do this job for as long as I'm able or age 65, what ever comes first.
Think the airline business is tough, try city life.
But one friend made it big in 'The City' in the insurance business.
By the time he was 44 years old he was burnt out and washed up.
He sold up and bought a chateau in France.
I have been a major airline Captain for the last 26 years.
I can honestly say I've enjoyed every minute of it.
Except being furloughed and going on strike.
I intend to do this job for as long as I'm able or age 65, what ever comes first.
Think the airline business is tough, try city life.
Joined: Feb 1999
Posts: 1,095
Likes: 0
From: UK
Take the job with GS.
You can become a pilot later in life, as I did, but it's unlikely that you'll get a job in GS later in life after leaving flying if it doesn't work out. The aviation industry is cyclical and we've had the high. My company, plus many others, are starting to baton down the hatches already. The next downturn is on the horizon.
You can still short in the years ahead and come out on top!
You can become a pilot later in life, as I did, but it's unlikely that you'll get a job in GS later in life after leaving flying if it doesn't work out. The aviation industry is cyclical and we've had the high. My company, plus many others, are starting to baton down the hatches already. The next downturn is on the horizon.
You can still short in the years ahead and come out on top!
Joined: Aug 2002
Posts: 181
Likes: 0
From: Surrey
Interesting question
You should follow your energy not your interests (interests are often just transitory thoughts, very different from doing a specific activity repetitively for 8 hours a day every day for the rest of your working life). What did you do during your spare time in your adolescence? That's probably your 'thing'.
