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There are 3 things you need to do if you are going to be a career pilot. If you haven’t noticed, the economy is supposedly not doing too well and neither is the airline industry for that matter. I really dislike all the “fear mongering” that is going on but it is hard not to get caught up in it. I saw a bumper sticker once that said, “If you aren’t totally disgusted, then you are not paying attention.” Unfortunately though this bumper sticker is a message for every pilot flying the line or attempting to make a career in aviation and that is — you need a backup plan.

The Aviation Reality

Too many future pilots decide on aviation all starry-eyed, dreaming of flying heavy-metal and find that when they do get to airline industry that the pay, life style, and the work rules are a hard thing to swallow.

As a new hire at a regional airline, you will only make about $19 per hour (before taxes and insurance) for the first year which I believe puts you in or very near the official poverty level of modern day America. Put on top of that that after your first year, your pay will go up to a whopping $27 per hour, your life will be a little easier, but not much.

It doesn’t help these days either that captain upgrades, even at the best regional airlines, are taking between 5 to 10 years now.

What can you do?

You can prepare. And this goes for any job! Here are three tips that you need to read:

1. Finish College

If nothing else, finish high school, go to university, and get your bachelor’s degree, and notice that I didn’t say ”associate’s degree.” Nobody cares about an associate’s degree. And don’t get a degree in “Aviation Management” either. Get your degree in something that will have a universal appeal and can open doors outside of aviation. But you might be wondering, “Why get a degree?” Well all I can say is that you are better off with one than without one. A bachelor’s degree is going to open more doors for you than if you don’t have one. Hand’s down!

So, before you get into flying as a career, do some soul searching and think about what you would like to do IF you couldn’t fly. Really think hard about it. You have to imagine what would happen if you lost your pilot certificates due to an FAA violation or you failed your medical exam. You have to think about what you would REALLY like to do. Then, get a degree it it. Stack the cards in your favor. Be prepared. I got a degree in Computer Science and a master’s degree in Management Information Systems. If for some reason I lost my job, these degrees could open a few doors and allow me to get back on my feet.

2. Avoid Debt

I flew with a first officer the other day who was $100,000 in debt. $100,000! Here was a twenty year old and his new wife, both of whom had just finished college, who were seriously in debt. With a debt of $100,000 debt, it will take them years to pay off. Forget about the finer things in life. For now they are totally controlled by their debt. If you hypothetically say that they are going to pay off this loan in 20 years and they are being charged 5% interest on the loan, then over the life of the loan, they are going to have to pay back an additional $58,400. Wow! And just to get this number, they would have to pay about $660 per month just to achieve this. It’s crazy. On a first officer’s salary, where are they going to come up with an extra $660 to help pay down the loan?

The point is, if you are going to get into flying, have a sound financial footprint and know what you are getting into. Try to get scholarships to universities that offer aviation programs. Join the armed forces and use their tuition assistance to pay for college and use their aero clubs to earn your ratings. Or download this book, “Fund Your Flying” for other ideas. As for me, I used my Armed Forces Montgomery GI Bill to help pay for all my ratings from Commercial to Flight Instructor (CFI). The only two things that I had eventually paid for out-of-pocket were my CFI-Instrument and my Multi-Engine Instructor (MEI) ratings. 

But if you don’t see the military as an option, then start saving now for your future education and your flying career. Don’t rely on your parents to foot the bill because they have to worry about their own retirement and sorry to say, you aren’t included in it.

If you do need a loan though, try to stay away from big banks. Instead try using Prosper to get a loan, especially if you credit history is a bit shady or you have no credit.

3. Find a Part-Time Job

This is by far the most important point!

Finally, once you do finish your degree and make it to the right seat of a regional airline, find a second job!

You have no idea how important this one point is. 

Now I know that that isn’t very glamorous but consider this, as a first officer, you will need a second job to avoid going even further into debt and you may just start lowering the debt that you have. If I could do it all over again, I would have started an Internet business or began moonlighting somewhere else to bring in extra cash to both live off and pay down my debt. It sucks but that is the reality. Aviation is a challenging career and it can disappear in a snap. Right after 911, I saw my promising airline career disappear three months after I started it. And don’t think it can’t happen to you. Companies like FedEx and UPS are furloughing and these are markets that for years have withstood the downturn in the economy and now pilots are being sent to the streets. Scary!

Another reason I recommend having a second job is because you will need to have something to fall back on if you lose your license, fail your medical, or get furloughed. It is always good to have one foot out the door.

If you are interested, check out Internet Business Mastery to give you some ideas on an Internet business and get your foot in the door.

Some Final Thoughts

All things considered, I’m glad I’m in aviation. I enjoy flying jets and I enjoy being a captain, but like any job there are days that I long for something else. But, I’m completely realistic that I have to have another job, career, source of income in my pocket at all times.

The airline industry is fickle and bad things happen to good people like violations or losing your medical. The prepared pilot are the ones that survive and enjoy a prosperous life. The unprepared pilot is the one that thinks their aviation career is going to last forever. Don’t think for a moment that any career you choose is “safe.” Nothing is safe and you have to prepare…now!

To Your Flying Success,

Jeffrey

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