Well, okay.
Does FSA provide any monetary compensation if you don't get hired? Should they?
No, they held up their end of the bargain. You either got your shot and blew it, or the reality of the world bit your ass when the airline slowed down/furloughed/etc. That's not something that FlightSafety has any control over.
That's the exact reason I encouraged all of my students to consider that possible outcome when they were considering the program (and pretty much all of them did consider it at one point or another). Say you do get put into a pool or worse; furloughed. What do you do then. You're just a guy with a few hundred hours who has the ability to operate an FMS... Can you afford that? Do you want to take that gamble?
The airlines that participate in the direct tracks, with the possible exception of Eagle (and they have their own problems), are all teetering on the verge of slowdowns and furloughs. I know that the urge to move on to the next level is strong, but you have to try and not put all of your eggs into one basket. Otherwise you may be very sorry, and broke.
When you interview for a position with an airline, they typically look at a few things:
Flight History
Total Time/Multi/Instrument/Ratings and Certificates/Accidents/Violations/DUI/Certificate Actions
Technical Knowledge
Usually the last airplane you flew, can you describe the systems in detail?
IFR Knowledge
They point to something on a chart and you'd better know what it is. IFR rules, can you takeoff?, do you need an alternate?, etc.
Personality
All throughout the interview they are gauging what kind of person you are. Are you aggressive? Overly aggressive? Passive? Nice? Mean? You get the point. Do they think that you could function in a crew environment for four days at a time? A month?
All of these things can be seriously improved through instruction. Having the CFI shows that you have the ability to work with others (i.e., CRM). When you become a CFII, you learn so much more about instrument flying than you did as a student. You really do expand your knowledge through teaching.
I've heard the argument, "How much can I learn watching somebody do turns around a point?", and I'll concede that the actual task of watching somebody do a turn around a point doesn't hold much value, but everything that you did up to that maneuver carries an intangible value that is difficult to quantify.
Every ILS that you observe being butchered further strengthens your knowledge and skill base whether you think it will or not.
That being said, if you really don't think that you would be able to give the effort that it requires, then don't be a CFI. Nobody deserves an instructor who doesn't care about their job. But, I would encourage you to think about your decision and consider what a (good) captain does. They teach. Is it a challenge? He!! yeah. But most things in aviation are, that's why we do them right?
Anyway, good luck what ever you decide.
PS. Early on I didn't think that I would like instructing either, but as I moved through my certificates and ratings I realized that it could be a very rewarding experience and a chance to gain more experience (and get paid!) without more outlay of cash. I would only like to apologize to my first few students when I was getting my mojo appropriately adjusted...
I think it's nice that ATP offers a "guarantee" of sorts in the form of cash back if you don't get hired, at least that makes it easier for candidates to take the plunge as opposed to ALL of the risk being on the student.
