How do you people survive financially???

AKcharger

AKcharger

Well-Known Member
And is there ever a silver lining?

The more I talk to people and read, the more I realize how AWFUL pay is for anyone under a 56,000,000 747-800 captain.

How long before you can expect to make a good (like $60K+) wage

I can only imagine what it's like for the guys with the university flying program, or "shake-n-bake" 0-500" hr flt school loans to pay off...;)
 
Lessee, 3 years out of A&P school and I make ALMOST $60k.

Then again this is in a place where $900-$1200/month is the going rate for a one bedroom apartment, and a gallon of orange juice costs $8.
 
I'm at a regional on first year pay... I paid off all my debt before coming here, and have a lot saved to get through the first year. Without doing that, I have no idea how some of these people make it work.
 
Food stamps. Just don't wear your uniform down to the DSS office.

Seriously, when I first started, that is what we were told in Indoc when the guys with kids questioned the pay. And that was back in the early 90s.
 
Cptnchia said:
Food stamps. Just don't wear your uniform down to the DSS office.

Seriously, when I first started, that is what we were told in Indoc when the guys with kids questioned the pay. And that was back in the early 90s.
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Could you wear your uniform, sans company insignia, to maybe bring awareness to tue general public?
 
Not gonna lie. Aviation can really suck. But, it can also be decent. It's not for everybody.
 
AKcharger said:
And is there ever a silver lining?

The more I talk to people and read, the more I realize how AWFUL pay is for anyone under a 56,000,000 747-800 captain.

How long before you can expect to make a good (like $60K+) wage

I can only imagine what it's like for the guys with the university flying program, or "shake-n-bake" 0-500" hr flt school loans to pay off...;)
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Wife with a decent job, live with your parents/car.....That's the only way I made when I was flying as an instructor and a regional FO. Even after I upgraded I eventually became tired of the fact that after I paid for daycare, a crashpad, food in two places, a parking pass and a myriad of other things it didn't really make financial sense for me to even leave home anymore.

Then again....My dad picks up extra time on his days off and manages to pull down around 300k a year pretty consistently. Of course he's been at SWA since 81.

Stick around long enough and you might make it financially. Though you may not like what the rest of your life has become at that point.
 
My girlfriend makes about 5 times my salary. I'd probably have to rent a closet in somebody's basement to live in if I wasn't with her.
 
I acquired very little debt during training, and that is key, say again, KEY, to this whole discussion.

I also have a paid off reliable vehicle (99 Jeep, paid 5K for it 7 years ago) and I stay away from credit cards.

Lately as I've been out of aviation I've just worked my ass off and banked a ton of money. I've probably made as much as a junior regional Capt just driving a bus in AK. My last 8 day trip netted $1,300 in tips, cash. The per diem and overtime will probably double that.

I've kept my living expenses as low as possible, just renting a room off of craigslist, but I realize not everyone can do that. What you can do is realize that you may not need the expensive cable and Internet packages in a swanky gated apartment as you bring home your expensive lattes.

It's all about living like no one else so later you can live like no one else.
 
My way of doing it was not original. In '03 when I graduated I refused to pay for a job (which at the time seemed the only way into an airline) so I dispatched and worked ramp making money to pay back loans and CC debt. Got rid of the credit card early and never got back in. Built up some money and changed jobs, EMI technician, I worked a lot and traveled a lot (working 14 hour days 6 and seven days a week on the road) and dumped all that onto college debt, savings, IRA, and a share of a 172. Built time and CFI'ed on off days (when I wasn't traveling). Got on with Colgan, a huge mistake from a QOL and pay standpoint only, but I worked 130 credit hours a month average and was able to keep my savings intact for my next move onto another regional as a captain. Made very good money, and when the stock market tanked I took what was left of my IRA and dumped it into a foreclosure. Looked like scenes from "the money pit" at first, but it all worked out and now I've got 70k in equity. Found the love of my life, luckily when I was done chasing the brass ring upgrade, I have no debt except for the house and a side business that's out of debt and running on cash. I hope I can stay at the regional as a FO with 20 something days off and the rest of my income coming off the side business but it may not work out and I'll have to leave to the major's. Luckily there will be lots of movement in the next 3 years (some say two but the economy is fixing that), and while I trust there will never be a pilot shortage, I will have opportunities. Still praying the business explodes and I never have to worry about the airline pilot thing providing my wage.

There it is, a little conservative spending, a little extra productivity with the side business, staying out of aviation until I was mostly out of debt (thank you ERAU and their college scholarships for knocking a chunk out of my tuition) and staying positive. Well, staying just positive and dedicated enough to take the paycut to fly airplanes, although now that I got into this industry I wonder what I was thinking. I keep telling people who ask me if I am glad I made the career change, "ask me in five years", however it's 3 years in and I'm still saying that... but I'm very comfortable so I guess it was worth it. It's embarrassing I measure my success not by the job but by where the job has taken me, and who I've met. That's true of almost every job so I don't know that this aviation thing has done anything for me... but ask me in 5 or so years and I may be able to tell you.
 
at1024 said:
It's seems like the recurring theme here is to marry into money, or just find a sugar mamma :)
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No, the recurring theme is to stay out of debt, and be capable of basic financial planning. But for the most part this falls on deaf ears, so most up and coming pilots get into unsustainable financial situations and end up having to "marry into money", "find a sugar mamma", or complain about how broke they are all the time (most common). I have no debt, and some money saved up... I live quite comfortably on first year pay, travel a lot, enjoy going out with friends, and etc.

Most people have no idea how badly lots of debt will impact their quality of life, but we life in an instant gratification society so planning ahead is often not a consideration.
 
GypsyPilot said:
unsustainable financial situations and end up having to "marry into money", "find a sugar mamma"
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That was a pretty poor generalization.

When I go babe hunting there is only one quality I'm looking for. She has to be smoking' HOT. The rest is all bonus.
 
Krieger said:
That was a pretty stupid generalization.
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Pray tell, why?

How many times do we hear about new pilots putting themselves into a perilous financial situation, and then complain bitterly about it while exclaiming "Marry a sugar mamma!" or "Don't get into aviation, be a lawyer instead!"?

Are you at a regional airline right now? I'd be curious to hear your expertise on why my generalization is wrong...
 
I live at home when I'm home. When I'm gone for a month or two my place (hotel) is paid for by my employer. I drive a 98 Hyundai accent while I'm home, when I'm not I drive a 2011 model of whatever enterprise has available with satellite radio. My work hours in the summer are long but winter is short. I pay my bills and bank the rest. I chose not to go regional but to stick it out instructing and find an alternative. However nothing lasts forever and if I had to go regional at least I have a few bucks saved up to get me through it.

Sent from my ADR6350 using Tapatalk
 
Well sound like a few people out there planned for it (orfound a significant other). I fear for those blinded by the prestige of being an F/O in a "fill-in the blank" with little if any regard to income...I think the excitment fads quickly when hunger pangs begin. I've actually watched the employment cycles since I've began instructing in '96. I remember the early 90's were kind of stagnent, it wasn't uncommon to have an unemployed ATP stop in to teach with us as they looked for work. Then around '97-98 flight schools were in trouble 'cause there were no instructors with the mandatory 2 years experience...the regional’s were hiring so fast, no one could keep CFI's! Then beginning in 2000 (followed of course by 2001) the bottom fell out and I saw several guys I used to teach with who left for the airlines on the street. Then 2003-2007 seemed like, as mentioned above, you had to "pay for your training" to get a job, if you could find one. Now it seems a little better, where I teach we're short on instructors (anyone want a job?) In the past 4 months, 3 guys left to fly airlines/cargo and I interview with a local airline Monday (SAAB 340's) so at least here in AK there's movment.

Oh, my plan? I retired from the AF after 27 years, flight instructed in aeroclubs and built my time slowly with no debt and have a reliable income. If Ididn't have a healthy pension...NO WAY
 
pullup said:
Could you wear your uniform, sans company insignia, to maybe bring awareness to tue general public?
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Depends on the company.

Skyway, you could in the beginning but then they cracked down after a bit.

Southernjets, unless you're at a work-related function or have pre approval by the chief pilot's office, they can punish you for doing such.

Edit: Ooh, sans company insignia, we'd all look like skycaps! :) The general public probably cares more about the pay and working conditions of people handling their luggage over and above those flying their airplanes. Besides, they work for spanky tips! :jealous:
 
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