This is a question that all of us who love flying ask. Should we take the high risk gamble to train as a pilot knowing that we may never get to use our licence? To be completely honest, nobody bar you can answer that question as everybody’s personal circumstances are different.
I will try to go through all the things you must consider when asking yourself should I become a pilot?
Cost
No matter which method of training you choose, integrated or modular the costs range from the 10’s to in excess of £100,000 pounds.
Modular flight training where you are willing to travel the world to get the best price will cost you around £35,000.
If you want to do your modular flight training in the UK only then you need to budget closer to £55,000.
However if you want to go integrated at a big school your training will cost you in excess of £100,000!
On top of this you need to know that most airlines these days you will have to pay for your type rating. The cost of this will be around £20,000 and is not included in the headline prices you see.
Remember all loans will gain interest while you are training, remember to factor this in as well.
No matter what route you choose do your own research. Don’t listen to any school or anyone with any desires on your money. Ignore the glossy magazines and the flash presentations and do your own research.
Read up about the so-called pilot shortage (hint – It doesn’t exist).
The salaries are not excellent and most likely are a lot less than you are expecting. Look them up & work out what you owe, can you make these payments and still afford to live?
Don’t get shiny jet syndrome as having £600 a month to live on after paying your payment on your £100,000+ loan, that will syndrome will go real fast.
Passion & Sacrifice
Are you passionate about this? Do you really want this? You will meet people who do, so you need to make sure you want it just as much. Unless you have a lot of money behind you, you will have to sacrifice a lot. Holidays, nights out, eating out, the latest phones and gadgets etc. That money becomes flying money. At one lesson a week at £170 a hour you will spend £680 a month on flying alone. I would say that is the bare minimum you should be looking to fly when training for your PPL.
If you are not prepared to do all this then you may want to reconsider.
Job Prospects
Competition for jobs is fierce and there is a chance you may never get to earn a thing with your licence. You could also lose your medical and you would not be able to fly.
What would you do if the worse happens? Do you have a back up plan? How will you earn money? How will you pay back your loans, which of course will still need paying back?
You need to also work out what your plan B is if plan A doesn’t work out. I personally am an IT Engineer and I hold multiple Microsoft certifications, so I have a career I can fall back on while waiting for my dream job or if the worse should happen. I have also saved a fair chunk of the training costs and I have a decent wage coming in.
Are you relying on your wages from your job? What happens if you lose your job in the middle of your training? What is the alternative. If you have put say £20,000 in you then don’t want to be out of money with no way to finish your training.
Full time or part time?
If you can afford it full time would be the best so you can focus on your training, however you will have no money coming in and a LOT going out. You need to factor in living costs during these times as they are not included in the headline price you see.
In Conclusion
At the end of the day if you have done your research and decide it’s time to go for it then you are going to have some amazing fun. Learning to fly is a joy and an everyone should have the experience of at least 1 lesson.
Remember you will defiantly never get to fly a plane for a living without the licence! Just remember that job may be years down the line, so make sure your plan B is solid.
You need to get in this game for the love, but you need to also be able to live your life, so the finances have to add up.
Lastly remember, nothing ventured, nothing gained. Do you want to look back in 20 years and say I wished I tried, or I am glad I tried?
