Imporatant decision - please help
 

After years of saving I have finally managed to acquire the princely sum of £55,000. I cannot face working in my current career any longer, even though I realise it would make sense to stick at it for another 6 months….the past 5 years have been “just another 6 months”. Time is also a factor, since I am 32.
Considering the current climate, how do people think I should train for a career in aviation:

Full time modular - £45,000 including living expenses and an FI course upon completion.

Ab initio at Jerez - £55,000, plus borrowing another £10,000 for living and an FI course with them upon completion.

Airline Partnership scheme with Oxford, £65,000+£10,000 expenses, borrowing £20,000.

(Approximate figures; please correct me if they are far from realistic).

I realise that I am exceptionally fortunate to have this amount of money, however I have worked incredibly hard, sacrificing a great deal in saving such an amount, and I do not wish to waste it now. I know that the OATS partnership scheme costs a lot more, but if it helps me to find a job with an airline quicker, increased earnings may cover this. Alternatively, I would also like to instruct for a year, but I’m worried about the availability of FI jobs when I qualify.

Please, any advice at all would be very welcome.

Dawg,

You don't say much about your personal circumstances except for how much money there is in the bank. However, bear in mind that whatever route you take, you're unlikely to get a job at the end of it - but that the situation is improving.

Therefore, I'd suggest that you work towards your ATPL part time, and continue in your current career. That way, you'll still have a job which will pay the bills once you've finished your training. This is what I'm currently doing.

You don't say how much you currently earn, but if you're able to save that kind of money, I'd guess your current income will be sufficient for you to be able to keep current between finishing your training, and getting that first flying job, which is also important.

Good luck!

FFF
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No one's going to make the decision for you. Do what you feel is right. ;)
I reckon you can knock off that 10k living expenses for Jerez. Food and accomodation is included in their price given. You won't get that much time to rack up much debt whilst out there for entertainment as the free periods during training are few and far between. 5K would be more than enough in my opinion. Also, they don't do Flying Instructor ratings over there so read up a little bit more before making your move. :D

Maybe this will help in your decision making.

All the best and good luck,

VFE. :cool:

As far as I'm aware, for the OATS program, it's not just a question of money. You may want the program, but there will be a screening test of sort(gasp!). If you pass, then the program is on, if you don't, then you go the normal route.
Tricky descision, borrowing is always a last option.
With that amount of money I would go see them ALL, even if it cost money to get there. Talk to them, talk to an instructor at all of the schools, grab a student, talk to him. As for a exam results, shout for them if you have to. Then make a descision.
It's hard graft, but with the money you have to lose!, it HAS to be worth it. £55K in the wrong school, ruins your mind!".
Be carefull, please.
:rolleyes:

Apologies FFF,

I have no constraints upon where I train. I have been monitoring PPruNe for quite a while, and like a lot of posters in a similar position, I work in IT. I have been assured that my job will be there if I choose to return, however as I pointed out, I am truly unhappy with it and have been procrastinating for the last 5 years. I am leaving my current job and it is now just a question of how I train.....

Thanks for replying, and good luck, I suspect we'll be needing it mate!

Perhaps you should talk to the FTO's themselves. Visiting the schools does help, you get to meet the staff and look around at the facilities. You soon get a good/bad feeling about the place. Certainly give Cabair a call, they are very accommodating, and give very helpful advice.
Good hunting.

Hiya Dawg, with that kind of money, stay in your present job for the next year and invest the money in some well chosen stocks, that should just about double it and then you'l have no money worries, AND if the investments pay off even more then there's not much point going into full time aviation, you just found an easier way to make much more money, then in a few years time you can buy your own a/c and have proper fun. Failing that have a good look at Australia and South Africa, with the exchange rates at the moment you'll save a fortune. Eurpoe (especially the UK is a rip-off for learning to fly). Hope it works out ok.

For the next six months do a PPL whilst working and earning.

Then go to Jerez.

The PPL cost will be knocked off your integrated course fees.

Good luck,

WWW

Thanks very much to ALL for the advice!

I was planning on visiting FTO's to have a look, and your replies have highlighted how important that is.

I was originally leaning towards Jerez, thanks for pointing out the lack of a FI course VFE, doh! I will definitely be going out there for a visit; WWW do you know of any times that I should avoid visiting?

BF2, I MAY see you there in the summer :)

Once again, thanks for your time, and the best of luck in whichever way you choose to achieve your dreams people!

Serendipity Dog,

I know the situation you are in - it is the same as mine. For what it is worth, I am a little older than you - 35 - and am moments away from signing on the dotted line with BAE. I've looked everywhere for the last year and feel they are right for me. I too am lucky that I have the money through hard work and simply having worked for more years than a lot of wannabees!

If you want any info/further opinion drop me a line - I know BF2 has also done his homework on this.

Best of luck with your decision.

sydneyc

Yeep I'll second that syd,

Seredipidy, drop me a line if I can be of any help.

Check your email:D :D :D

A few comments:

1) I'd prefer a high salary IT job and a share in an Eclipse (yes, wishful thinking) opposed to a full time career as a pilot (altough, it wouldn't be bad!!) - you've given me an idea for a new thread!

2) Get up to speed for the PPL theory exams and complete them. Head off to the Florida or somewhere, put the PPL + Night in the bag. Return home, work part time to keep topping up the ol' bank a/c. Consider training with the very best (err..yes, I did complain about OAT) - it'll give you a competitive advantage if you've completed a course at OAT or similar "well respected" FTO. Always get the best.

3) Have fun, there're no guarantees in aviation - don't risk all you've got, but get maximum utility from what you spend!

and please, don't pack-in your job, the market is far too risky at the moment (er...IT job with Honeywell?!?)

Cheers
VT