ACP341 Is Corporate or Part 121 Airlines better for a Career Change at 50?
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- Опубліковано 27 сер 2024
- In today’s episode, we discuss if it is better to go the 121 our corporate aviation route as a pilot over 50.
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Listener Mail:
I have been a long-time listener of the “Aviation Careers Podcast.”
My goal is to finish up my rating this year and end up with a CFII. I currently run a successful business that I work 2-3 days a week. It has taken me many years to get to the point where I can focus on my next career as a Commercial Pilot.
My plan is to sell my business in 3 years when my daughter graduates college and pursue a job at either the airlines or 135 Fractional company. I will have a fairly well-funded retirement at that time but hate to leave money on the table.
As far as retirement goes, what would be a better choice: a 121 airline where my earning potential is approx. 12 years ( I am 50 now) or a 135 Fractional like NetJets where I would have almost 17 years of earning potential. I have been on all the message boards and am even more confused than when I started. QOL is not a big issue as my wife and I would not mind moving to a new city so we could live in base.
Thank you for always inspiring me to move forward in my Aviation Journey.
Benefits of corporate or fractional. Make more money in the first 2 years after that you are not gaining much.
You can always fly 135 after your airline career and but not the other way around.
135/Corporate has more generous commuting meaning you are home-based.
Pay is better at airlines, especially legacy - 5-year wide-body FO will be making $200 an hour which is $1000 a day minimum.
10-year captain pay at fractional or large corporate is about $200,000
Some flight departments pay more but the potential for larger pay is better at the airlines especially as you go past 5 years.
Remember bigger the plane the bigger the paycheck when it comes to the airlines.
That is why most lean more towards legacy airlines that fly wide-body aircraft.
You normally won’t see widebodies at Low-cost carriers although there are exceptions.
Airlines Retirement. Average 16% on top of your salary.
Fractional and corporate vary from 5% to 10% plus additional bonus money
Many legacies and LCC airlines allow profit-sharing money to go to the 401k also.
Also, many legacy and LCCs have VEBA money which is a voluntary employees' beneficiary association. A trust set up for medical expenses.
Travel benefits obviously are better on the airline with the largest network which leans toward the majors.
To put it all together, Career Coaching and meeting with a financial planner is a great idea.
What Is A VEBA
Understanding Your 401k Plan and Benefits .
Carl's Inspirational Message
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Great info. I’m 47 and fly a Cherokee 180 working on my instrument and will roll right into my commercial. Corporate is the goal. Mortgage professional for 23 years but I feel in love the first time I touched a yoke, like true love. The kind that you would do it almost for free. Will fly for food and water! Lol
I’m starting now as a CFI at 42 and this is exactly the question I had. Thank you!
You are more than welcome. Teaching is a great way to learn the nuances of aviation.
@AviationCareersPodcast this was great info for me, I am 54 and just about to jump in. With the hsa and viba info, I am curious where else the funds can go? I have a military retirement and tricare/va and eventually both of those and Medicare with current law.
For those who say retirement seems a long way off, IT ISN’T!!! Worry about that stuff now. I’m 22 years into a career and it feels like I started yesterday. I’m fortunate to be able to move into a new career but I wish I had thought more about retirement when I was starting I’m. 47 going through flight training. Started September of 2021. It’s about a year later and I’m starting CFI training. Everything you’re talking about are all the questions I’ve been having. Thanks for covering all this!!!!
Excellent content. I just passed my ppl at the ripe age of 51, body is tired from being a general contractor for years, time for a career change!
Congratulations! I am looking forward to hearing more about your journey towards your career goal.
I started my career at 51. I'm a PPL on my way to commercial and it takes serious commitment to not quit. These videos keep me going, thank you brother.
I am glad they help you. Keep doing something every day to move towards your career goal! I can't wait to hear about your success.
I’m 55, CSEL-I, aviation degree, not current right now, but really want to finish my career as a pilot. Plan to get my CFI and build time in any way I can. I have a lot of contacts who can help me when I’m ready. I’d like to go 121 until 65, then on to Part 91 or 135. When I was looking at doing this 15 - 20 years ago, the FO pay made it impossible for me to take the cut. Now, it’s be a raise in a year or so. Flying has always been my passion, but life and career have gotten in the way. My kids are grown, the time just seems right. Hope I can do it. Love your info!
That is terrific. I am glad you are pursuing your passion and please keep us up to date on the journey towards your career goal!
Just remember: all those huge raises the regionals got is only temporary.
Thank you for this episode. It touches on what many of us are trying to navigate. I’ve retired from a career recently and at 51 I’m starting to believe I can do this. I sent an e-mail to you with a question on the best way to get the hours needed as a complete beginner at 51 years of age.
So many videos cover what to do as a younger person but I’ve never seen this topic handled on UA-cam before. THANK YOU!
I am glad this was helpful for you. I will share more on this topic and answer your question in an upcoming episode.
@@AviationCareersPodcast Thank you!
I'm 52, going for it also.
@@onethousandtwonortheast8848 I will. God bless and great luck.
Very helpful at 1340 hrs and 55 on the treadmill
Love love love your content thanks for the motivation!!! ✈️🛩️
You are so welcome! I am glad it is helpful.
I am stuck somewhere in africa, still clinging on to my childhood dream of one day becoming a career pilot, which I know I will, within the next 5 years, thank you sir for the insight shared here. I am 28. I will look back at this in 2027 and will be glad I held onto my dream. Safe landings sir and all here who are in this pursuit!
I have followed you. I want to see your progress.
I’m 58 and still trying to decide what I want to do… retired from 36 years of government flying and been doing EMS past few years.
I'm currently a police officer in my early 30s and putting some serious thought into entering the aviation industry. Appreciate the advice, this video was extremely informative!
Awesome! Good luck on your aviation journey and don't forget to do take one step every day toward your career goal.
Defintiely change, please!
42 years old starting my ppl training in September.
This was good. Thank you sir!
Glad you enjoyed it!
I know this is two years old, but you can make 200k no problem as a narrow body legacy FO in year two if you wanna work. So there really isn’t much getting by till 5 years as this implies. A 5 year FO that hustles can make $350k
You could make 200k as an FO a decade ago with some hard work. My video describes what the average individual experiences when moving forward in an airline career. Most fly for the regionals then on to the majors. Also, some of the larger fractional and 135 operators pay very well for the second year.
Here is a video describing how you can make more money as an airline pilot: ua-cam.com/video/o2YBK-20AMU/v-deo.htmlsi=K23gwbERCRYo_mUN
I’m 59 ppl complete next month. Check ride only remains. Former football coach. I want to fly corporate! Come get me …..
I’m 55 and getting ready to start my career in aviation so no PPL yet. Financially this will be a step up from my current salary. I plan on going through an accelerated training. If I’m calculating correctly I should be able to get a good 5 to 7 years of flying in the regionals and or majors before the retirement age of 65. Am I being too optimistic?
Thank you for providing such great content.
Your estimates are good as long as you work hard. Remember you can fly after age 65 you can fly for corporate or charter airlines operating under part 135 or part 91.
@@Victoria-wq6iw Planning on attending Paragon Flight in Fort Myers. There are others in the area but this will be the closest to me.
Outstanding content!!
25:30 The guy who did my dispatcher pratical oral test back in 2007-ish was an airline pilot but then became a dispatcher so that he could be home everyday.
Great advice
Thanks. The direction someone takes in their career is very specific to their goals and personal situation. I am glad this video helped.
Work your entire life to have a big 401k and then die a few years after retirement. This is the reality of most people.
This is the reason I became an airline pilot. Great income and many days off to enjoy the income while I am still young. Life is all about balance.
you must be fun at parties
@@budguy21 Was there anything I said that was wrong?
@@Hedgeflexlfz no its just A perspective. whatever career people choose, 401k is only of numerous aims. majority of people on earth will work their entire life, and the new reality is that there no such thing as retirement. Especially if your enjoy your work
@@Hedgeflexlfz Yes, nearly everything you said is wrong. Unless you are born wealthy or invent something extraordinary and make a lot of money in a short amount of time, you'll have to do SOME sort of work to survive... whether or not that's working on a self sustaining farm out in the middle of nowhere or working a normal job in a town or city. If you plan well, you can enjoy your time. When I was in the military we were given a month of paid time off per year... guess what I saved my money and took an entire month off at a time and had a lot of free time to travel and do what I wanted during that month off. So find a job you like and that actually threats their people decent and you can enjoy life and not be so negative. Also, make healthy life choices and you can live far past a retirement age... retire at 65 and live to be 90 or 95.
When you say 5 year wide body compared to a 10 year fractional being the same pay, is that from starting off from scratch with that carrier?...certainly the fractional work schedule could be way less predictable than the major, correct?
Good afternoon can you explain when you can log pic time when you flight a single pilot aircraft operated as a copilot..what I tried to get is for example boutique air they are hiring copilot but the fly PC12 which can be a single pilot operation aircrafts..so how to build pic time like that? Thank you
That's a good question, i would go with sole manipulator of control pic time,
@@FlyingJournalism yeah I just got my multi las years look for some low time jobs I heard of them
Thank you so much for this video
Are the work schedules similar between the two? I'm assuming airline might be more flexible? Also, to fly bigger planes is that based on how many hours flown or training? What does training cost? If you have the funds can it be done at any time?
Great questions. Look for an answer in an upcoming video. If you need help deciding your career path I offer coaching at www.aviationcareerspodcast.com/coaching/
Over 3m to start the video.--Why not put that in the headline and place a link??
The retirement age being 65, so much for flying charter.
How do you handle age related health issues? Let’s say you have prostate issues and bladder issues or high blood pressure or hearing loss?
Best thing to do is make sure you can pass a First class medical prior to starting down the aviation career path. As a person ages medical issues tend to become more frequent and depending on the condition can have an adverse affect on your medical. That is why it is important to look into the medical disability insurance your employer provides. To further discuss specific issues offline please visit www.aviationcareerspodcast.com/coaching/.
How do I do this quickly. What’s the best route to build hours for my situation?
Enroll in a "pilot farm" type of school such as ATP. (just google ATP flight school). You'll need to either take out a massive loan or have 80-100k to burn paying for flight training, if you're going from zero experience all the way to flight instructor ratings. These programs will get you everything you need in like 6-8 months. Expect to treat it like a full time job, studying and flying 6-8 hours, 6 days a week.
What’s with the Red Knight coin in the Back?
Yes VT-3. I have had clients over the years who worked at VT-3. They also come by and visit me at Sun N Fun occasionally. Were you in VT-3?
How long do you need to work for the airlines to get the flight benefits in retirement?
Do the Airlines still offer a pension?
Medical… or law…
Things must have really changed. Are the airlines going to even consider someone in their 50s?
They have been hiring people in their fifties for years now. Things sure have changed in the past 20 years.
There's a black United FO who started flying with them at age 54, so yes, it's possible.
How realistic is it being hired at my 45's and just got my commercial licence?
They say that in some countries you can get hired with only 250 hours.
Many people change careers at 45. With 250 hours you could apply for cadet programs. With that said, most pilots build hours for the airlines through other commercial flying jobs.