The major reason why we choose these professions is mostly because of our pride, ignorance, salary, dressing styles,s and likes. What we failed to look at is the cost implications of these professions. We only care about the Prestige the job will give us. We failed to check how much we will need to pursue these professions. We didn't check Loan Debt, Market Volatility, and the like. Anyways.
Personal Story (Practical Example of My Childhood Dreams)
When I was younger, I wanted to become a pilot. Then, I was always telling my daddy that I wanted to study pilot in the University. Little did I know that it is not possible to study to be a pilot at the University. Instead, you will have to go to an aviation college to earn your babachelor'segree. You have to be certified before you can become a pilot. When you go to an Aviation school, you will earn your bachelor's degree and all your pilot degrees.
Steps to Follow to Get Your Pilot Degrees in Aviation School;
- The first thing you need to do is to visit an Aviation Medical Examiner (AME). When you visit this place, they will check your hearing, vision, and heart health to ensure you are medically fit to fly a plane. It is very important to do this because they won't want you to endanger the lives of others while you finally become a pilot.
- The next part is to get your private pilot license. After getting this license, you will be trained on how to fly a small engine plane. After you are good at this, you must have flown the airplane for a minimum of 40 hours to pass the practical exams.
- You will be trained on how to fly during bad weather and fog. Here, you will learn how to fly just by checking the cockpit instruments instead of looking outside the window for navigation.
- After earning your private pilot license, the next part is to earn your commercial pilot License. This license is very important because without it, you can't earn as a pilot. It is the only license that can allow you to fly people around the world. Before you can be given this license, you must have had a total of 250 flight hours.
- The next procedure is to have at least 1500 flight hours. This is because most of the major airlines require pilots who have flown for a minimum of 1500 hours. They believe the more you fly, the more professional you become. Most times, most pilots work as certified flight instructors so as to be able to pay to rent aircraft to fly and attain these hours.
- After you have completed this 1500 flight hours, you can then get employed by a regional airline of your choice. The rest is history.
Note: If you don't want to go to an Aviation school, you can also go to flight school. Here, you will be trained at a local airspace anytime you wish. The best part of this is that you can still be doing your monthly job and also training maybe during the weekends to become a Pilot. You can also pay per lesson here.
Cost Analysis To Become A Pilot
When I was younger, my dad was a salary earner, and my mum was a trader. We were an average family. But still, whenever everyone asks me what I wanted to become when I grew up, I always tell them that I wanted to become a Pilot. I never thought about the Huge amount or cost it would take my family to provide for all the training and certifications before I could become a pilot.
After I grew up, I found myself doing another thing entirely different from being a Pilot. I decided to conduct research on the cost analysis it would take for me to become a pilot.
The breakdown is as follows;
We have two options, like I said earlier. Let's look into the first option.
Option A: Accelerated Flight School / Academy
Most people who go for pilot training often follow this first option. The reason is that you will be able to get all your certifications and training done within a year. In fact, you can also become a pilot within a year, but it will cost you a lot of money. The average cost for Accelerated Flight School is within the range of $85,000 to $150,000
Breakdown is as follows:
- Private pilot License: This license is meant for Solo flights, foundational flying, and basic landings. The cost for this license and this training is within $14,000 to $18,000
- Instrument Ratings: During this training, you will learn how to fly through the cockpit instructions, which will be useful during bad weather. This training costs about $11,000 to $14,000.
- Commercial Pilot License: Here, you will be trained on how to maneuver the plane in an advanced way, build the hours necessary to become a full-fledged pilot, and it costs about $25,000 to $35,000
- Multi Engine Add On: You will be trained on how to manage aircraft that have two engines. This requires more effort. It costs about $5,000 to $8,000
- Certified Flight Instructor: This costs about $10,000 to $12,000.
Option B: 4 Year Aviation College / University Degree
This is more expensive than the one-year plan. The average cost for this degree is within $150,000 to $250,000+, and it lasts for four years.
Here is the Breakdown:
- Single Engine trainer: This will cost you about $150 to $220 per hour.
- Multi Engine Trainer: This will cost you about $275 to $350 per hour.
- Flight instructor time: This will cost you within $50 to $90 per hour.
- Flight Simulator Time: $70 to $150 per hour.
Note: There are some other hidden fees that you will pay and there are some cost of living during trainings for those period of 4 years that will be incurred by you. This is why the total average cost is about $150,000 to $250,000.
How Much Would My Childhood Dreams Be Worth Today
Looking at the financial life of my family back then, I knew there was no way my parents could sponsor my dream. This is because the training fees and the certification fees are too expensive. The only way they can sponsor me is if a miracle happens.
However, if I had become a pilot today, My Pilot Dream would have been worth a fortune Today. I would have been raking in thousands of dollars every year. However, Pilots also have rank. The higher the rank, the more you earn.
As of today, an entry Pilot earns $35,000 to $60,000 per year. A regional first officer earns about $75,000 to $105,000 per year. A Regional Captain pilot earns about $140,000 to $170,000 per year.
A Major Airline First Officer earns about $110,000 to $280,000 per year, while the Major Airline Captain earns about $320,000 to $470,000 per year.
Conclusion
Being a pilot is worth a fortune today because all over the world, there is a shortage of pilots, and this has made them in hot demand worldwide.