When we decide to commit to flight training the big sticking point is how should we fund it. The integrated training is easy to answer, you need to have all the money up front, it’s that simple. Modular flight training poses a different question of how to pay for modular flight training
Well the answer to that question really depends on what you want to do. For instance right now I am working full time, I have enough money to do my PPL, hour building and ATPL theory. However at this point I would run out of cash, this wouldn’t be so much of an issue if I was going to stay at work and learn on weekends etc, but I want to do my training continuously. I don’t think stop start training is the best way to learn and while it is possible to do so (many people do) I don’t want to go backwards at any point and need things like refresher lessons. I also want to go to ground school full time which means that I wont be working during this period. In other words when I commence training I want no distractions. This works for me because when I finish training and commence job searching I have a fall back career to go into, a career that offers permanent and contracting opportunities so I should be able to find work of some sort.
You however may look at it differently, you may want to stay at work and keep an income coming in. You may be happy to do a distance learning ground school stage and are happy to do your training in segments. That’s the beauty of modular training, everybody is different and it is flexible for their needs. If you are happy to spread your training out over a couple of years then this works perfectly for you.
I would say if you want to get your training done in the shortest possible amount of time then you should have the finances in place before commencing, otherwise you will find that your training is quite stop start and may take you years to complete. I understand having such a lump sum available is hard, believe you mean there are many days I think I might as well just do my PPL for now but then my logical side takes over and tells me to continue saving.
There is no right or wrong answer to how to pay for modular flight training as it all depends on your personal circumstances. Sit down and work it out, do a cash flow. If you are paying as you go also factor in things such as what you will do if you lost your job.
Integrated flight training costs anything from £100,000 – £120,000 a figure that most people understandably do not have. The two big major schools offer a loan through a bank called BBVA.
This is a terrible idea! Do not take a loan to fund integrated flight training (unless it’s a small affordable amount).
Let me explain to you why in detail that this is such a terrible idea. NB – Unless you get accepted on the BA Future Pilot Program then go for it as BA will repay this back to you.
- Pilot salaries are being driven down year on year. The glory days of pilots earning huge wages seem to be a distant memory, you will most likely start on £20,000 – £35,000.
- You most likely will not be assigned your home base. A lot of people just assume they will be flying from the nearest airport to them. For most of the airlines you can be based right around Europe! So out goes the option of living with parents to save money as you will need to pay rent, bills and food out of this salary. Oh yeah don’t forget that HUGE loan repayment you have signed yourself up for.
- Interest rates are at an all time low. The last time I looked at the loan it was 3% plus the Bank of England interest rate which of course is 0.5%. It will not be staying there with the head of the bank saying that he expects them to rise as soon as next year. Lets do some simple math shall we. The loans are over 10 years and including the Bank of England rate that gives you a repayment of £988 a month. This does not even include the two years that the loan will gain interest as you train. Now we will assume you will earn 30k a year, with no student loan which will give you a salary of £1,957.27 per month. Take away the £988 loan payment and you are down to £969. Out of this you need to pay for your rent, food, bills etc.
Now lets say the interest rate goes up to 5.5% this now makes your payment £1085.25 a month. You are now left with just 872.02 a month. At 7.5% you repayment rises to £1,187.02 and you get the picture. The numbers do not add up, at all, no matter which way you look at them.
- You have put a house up against this loan. Basically if you cannot afford to service this loan at any point the bank will come in and take your house or even worse, they will come in and take your parents house. How will you feel about making your mum, dad, siblings homeless? Like crap that’s how you will feel.
Please anyone even looking at this, do the math, do it again, get your parents to do the math, get your friends to do the math, ask a stranger to do the math before even considering this! Get a job and go modular for as much as half the price.
This is defiantly a case where your head has to rule your heart.
With all the options for flight training, Is MPL flight training worth it? After looking at the options available I would have to say that yes it is.
Now I am not going to get into the cost of such training, as I have covered the cost of flight training already. This is purely a look at the best way to get into the right hand seat of an aircraft. In fact I would say that MPL (Multi Crew Pilot Licence) training is only second to sponsored cadetship like the British Airways Future Pilot Programme. Sponsered cadetship is the best way into the flight deck however the issue with these schemes is they are rare and hugely over subscribed. For the lucky few they are the best way to learn to fly, however the fast majority well never be able to get on one and will need to look at another way.
MPL training differs from the ATPL Integrated route and the modular route in that it is sponsored by an airline from day one. This means that the airline will mentor your training and as long as you complete it to the required level you will go on to work for the airline. In the current climate this is just about as close as you will get to a guaranteed job. Airlines such as Virgin, Easyjet, Qatar, Flybe all offer such training here in the UK via the two big schools CTC Aviation and CAE Oxford (OAA).
As this is a good opportunity once again competition for this is very high and once again most people who apply are going to be unsuccessful. You just need to know this going in and do your best to try to impress.
MPL training is hugely expensive with the current costs being around £110,000 so for a lot of people this type of training is not possible. I also don’t think anybody should consider taking a loan for anywhere near that much money to earn a salary of £20,00-£35,000 and risk a house in the process. However should you be able to afford it, this is a good way into that right hand seat.
With the spiraling costs of integrated flight training you have to ask yourself, is Is Integrated flight training worth over £100,000?
Good question, and a very subjective one. As a business which all FTO (Flight Training Organisations) are, a product is worth whatever people are prepared to pay for it. If we look at the high-end of modular training costs then we are looking at a cost of around £65,000 where as if you shop around figures like £40,000 are totally possible. This is £35,000-£55,000 less than an integrated FATPL (Frozen Air Transport Pilot Licence) course which at the time of writing is around £100,000.
Does a fATPL course offer £35,000 – £55,000 more in value than the modular course? I think it’s hard to say it does. Please note I am comparing this to a fATPL course not the current MPL’s which come with airline sponsorship. The MPL’s are different as they come with a conditional job offer which at least takes away some of the uncertainty of finding a job after training.
Modular flight training also allows you to do things like keep a full-time job and fly on the weekends or after hours. This allows you to have an income coming in, something that is vital for flight training because we all know how expensive it is. For a lot of us modular flight training is the only way due to the costs involved.
Integrated offers you a full-time intense study with no distractions, that is the main benefit I see with it. The big flight schools also have hold pools in which they try to place their students with partner airlines. You need to decide for yourself if this is worth the additional premium you pay over the modular route. Do not go into a course thinking that you will go in the hold pool and definitely be placed 2 months after finishing.
So the question is integrated flight training worth over £100,000? Well quite frankly no, not really. If money is no object then of course go integrated. However for a lot of us money is a huge object and in that case I think it’s hard to justify the additional cost for a £100,000 flight training course with very little guarantees attached to it.
Anyone who has looked into flight training will have heard about the pilot shortage. In my opinion (and many others) this quite simply does not exist. How can it?
Here in the UK the big schools are churning out qualified pilots at a very steady rate, not to mention the modular guys who are also qualifying every year. There has and there will always be more than enough pilots to fly the aircraft. If there wasn’t the airlines would be doing huge cadet recruitment in massive numbers, something that they are not.
You also need to take in to account all the pilots who do not have a job, this includes newly qualified and experienced pilots. These guys and girls are all qualified to fly so if there was a shortage why would they be unemployed? Pilot jobs are oversubscribed and competition is high.
The big training schools are businesses, this is what people need to remember. They are looking to take £100,000+ from you. The idea of a pilot shortage is something that is good for them to sell their training. What cadet wants to hear “We will train you, but to be honest, you might never fly an aircraft due to their being too many pilots?” Nobody wants to hear that. It’s basic sales, tell people what they want to hear.
Flight training is a risk, you are hoping that you will be offered a job flying jets. The closest thing to a guarantee these days is the FPP (Future Pilot Programme) or a MPL (Multi-crew Pilot Licence)
The good news is that some of the airlines have huge aircraft orders not to mention that older pilots will always be retiring. This creates some opportunity but please don’t think because an airline has ordered 50 new planes that there will all of a sudden be a ton of roles. Some aircraft will be replacements and the rest will be delivered over a number of years. So out of the 50 new planes 20 may be for fleet expansion and they may be delivered over 4 or 5 years. Put simply THERE IS NO PILOT SHORTAGE. Looking at things as they stand, there is unlikely to be one any time soon either.
This is something I hear a lot and many people also say to me “Why don’t you use the RAF to learn to fly for free.”
I don’t know why there is this misconception out there that the RAF is in the business of training pilots to then leave and join commercial aviation. The RAF is in the business of training pilots to fly in the military. Let me explain the pitfalls in trying to do this.
- The RAF is aware of this. The RAF knows full well some people are trying to use the RAF to learn to fly and then leave to commercial aviation. They are very good at detecting people who are not committed to the cause.
- Do you want to fly in war zones? You are joining the military, so you have to be prepared to go where they need to deploy you. Yes you want to fly, but do you want to fly in Iraq, or Afghanistan?
- Competition is high. With the RAF being one way that people from lower incomes can actually learn to fly naturally competition is really high. You will be up against some of the most committed people, people who have dreamed of military flying from a young age. You may be just as committed to them to flying, but are you as committed as them to military flying?
- You will be tied to the RAF for years. It’s not a case of learning to fly, doing a year and then deciding you want to leave. You will be tied to the RAF for a set amount of years.
- Conversion costs. A military pilot is not qualified to fly commercial airliners. You must do a conversion which involves getting your CPL. Then of course you need to actually find a job.
Put simply, you should only join the RAF if you have an active desire to serve in the military and want a career in military aviation. I don’t think going this route is a good idea at all if your heart is not in it. You will be stuck in a job for a very long time that you may not want to be doing. Flying in war zones with enemies trying to shoot you down. Is this what you really want? Think long and hard.