Pilot or Accountant or Both

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accountant_pilot
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Pilot or Accountant or Both

#1 Post by accountant_pilot » Wed Jun 27, 2018 12:49 pm

Hello!

SO, I am seeking advice from pilots and others using this site.

I completed my commercial multi IFR in 2008, and an aviation diploma, and have around 260 TT. I completed my IATRA back in 2008 did my IFR ride on the Piper Aztec. I started working right away for a "not" reputable operator in northern Manitoba.

After getting airborne by falling off the end of the runway and landing on the runway using a handheld GPS, I said my time was done with this operator. I had interviews afterwords with other operators but eventually decided to pursue a different career as all my loans were coming due. I then decided to pursue a post secondary degree, and now after many years working as an Accountant and making decent coin doing so, I'm thinking maybe a switch back to flying. Question is HOW?

Ideally I would love to get into a career in my later years as a DFO or CFO of a large publicly traded airline. So in turn I am looking to get my CPA designation (Chartered Professional Accountant) but also maintain currency in the aviation industry. But after not flying for some years now, what is the best way to get back?

My thoughts are to get an instructor rating PT and become a freelance instructor on the weekends and evenings?

In a perfect world I could keep my pay, and fly as a FO on a multi turbine, then CPT, then training CPT, then DFO... BUT HOW?
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Re: Pilot or Accountant or Both

#2 Post by JasonE » Wed Jun 27, 2018 3:14 pm

If you are making good coin now, fly for fun. That's where I'm at. If I was 20 years old I'd do it differently, but I'm over 40 now. I couldn't afford to work for peanuts for 5-10 years just to build experience to make a decent wage. If I could fly and make the same money I do now, I'd be there in a heartbeat.
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ahramin
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Re: Pilot or Accountant or Both

#3 Post by ahramin » Thu Jun 28, 2018 12:13 pm

If you're an accountant now you probably have a better idea than I do on how to become CFO of a large public company through traditional routes. I don't think there's any hope of getting there as a pilot. As for DFO, all the ones I know of (current and former) have been with their respective airlines a very long time. If that is your goal, get yourself into the airline of your choice as quickly as possible. Spend the cash required to get current, find out where the company is sourcing their pilots from and go there. You could be working there within a couple years but you need to get going NOW.
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Re: Pilot or Accountant or Both

#4 Post by Bede » Thu Jun 28, 2018 3:08 pm

Reminds me of the EVP ops at my airline. He was a pilot, became a lawyer, went back to being a pilot and now he's an executive.

I'm curious, is there much of a pay differential between commercial pilot and accountant? Some accountants make a fortune, but my guess is, that like lawyers, that's few and far between.

Cheers,

https://www.payscale.com/research/CA/Jo ... ant/Salary
https://www.payscale.com/research/CA/Jo ... yer/Salary
This seems low, but I'm sure that it's not THAT for off.
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Re: Pilot or Accountant or Both

#5 Post by accountant_pilot » Fri Jun 29, 2018 10:42 am

Well, the progression from a student to a full chartered accountant is similar to the progression from a bush pilot to an airline pilot.

Pilot:
1) CPL
2) Instructor or bush pilot +- 2 yr $2000-3000mth (24K-36K/yr)
3) Regional Airline, FO King Air +- 2yr $40-50K/yr
4) Large airline after 4-6 yr FO 50K-60K starting
5) Large airline after 3-5yr Capt - 100+

Accountant
1) Post Secondary Degree
2) First acct job - 40K (2-3yr)
3) Second acct job - 60K (2-3yr)
4) post designation - 65-70K (2-3yr)
5) senior mgmt - 100+++

Similar progressions but the problem is, in accounting I already have 5+ years in it. If I was to step back to flying, I would be going down to instructing and not making too much coin...
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Re: Pilot or Accountant or Both

#6 Post by Sharklasers » Fri Jun 29, 2018 11:14 am

accountant_pilot wrote:
Fri Jun 29, 2018 10:42 am
Well, the progression from a student to a full chartered accountant is similar to the progression from a bush pilot to an airline pilot.

Pilot:
1) CPL
2) Instructor or bush pilot +- 2 yr $2000-3000mth (24K-36K/yr)
3) Regional Airline, FO King Air +- 2yr $40-50K/yr
4) Large airline after 4-6 yr FO 50K-60K starting
5) Large airline after 3-5yr Capt - 100+

Accountant
1) Post Secondary Degree
2) First acct job - 40K (2-3yr)
3) Second acct job - 60K (2-3yr)
4) post designation - 65-70K (2-3yr)
5) senior mgmt - 100+++

Similar progressions but the problem is, in accounting I already have 5+ years in it. If I was to step back to flying, I would be going down to instructing and not making too much coin...
It depends on what your definition of large airline captain is but if your talking AC I don't think there is a captain on property making less that 175k (emb) topping out around 330k (777) and we aren't attached to our phones/ deal with that corporate ladder grind and our days off are generally ours. Considering that right now only takes 2 years to the bus left seat (~200) right now I think we have it pretty good.
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Re: Pilot or Accountant or Both

#7 Post by lhalliday » Fri Jun 29, 2018 11:39 am

I never wanted to be a chartered accountant. I wanted to be a logger in the forests of British Columbia!

Or maybe a lion tamer. I'm not choosy. :P

...laura
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Re: Pilot or Accountant or Both

#8 Post by accountant_pilot » Fri Jun 29, 2018 12:43 pm

Interesting... just frustrating because if I return to flying I must go down to maybe 3000 mth and work my way back up. I would NOT make equivalent to what I get now, until I am CAPT on with AC or WJ.

Wonder, if I instruct PT for say... 10 years, would I have enough hours to go DIRECT Entry CAPT.
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Re: Pilot or Accountant or Both

#9 Post by JasonE » Fri Jun 29, 2018 2:28 pm

Like I said - fly for fun! Go get current again and start flying.
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Re: Pilot or Accountant or Both

#10 Post by Sharklasers » Fri Jun 29, 2018 2:32 pm

accountant_pilot wrote:
Fri Jun 29, 2018 12:43 pm
Interesting... just frustrating because if I return to flying I must go down to maybe 3000 mth and work my way back up. I would NOT make equivalent to what I get now, until I am CAPT on with AC or WJ.

Wonder, if I instruct PT for say... 10 years, would I have enough hours to go DIRECT Entry CAPT.

There are only 3 things certain in this world. Death, taxes and the fact no part time general aviation instructor will ever go direct entry captain at a major airline. The fact that you might seriously wonder that makes me think you might need to do a lot more research into how professional aviation works.
As an aside I would say that without seeing your T4 85% of mainline westjet and AC copilots make more than your average accountant by a large margin. The first year off flat pay AC FOs make between 100-160k. Tenured 777 FOs will easily break 200k while working a lot less than an accountant making a similar amount. Of course we do spend more nights away that accountant.
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Re: Pilot or Accountant or Both

#11 Post by Blueontop » Fri Jun 29, 2018 2:53 pm

accountant_pilot wrote:
Fri Jun 29, 2018 12:43 pm
Wonder, if I instruct PT for say... 10 years, would I have enough hours to go DIRECT Entry CAPT.
:rolleyes: :lol: :lol: :lol: :rolleyes:
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Re: Pilot or Accountant or Both

#12 Post by Jimmy2 » Fri Jun 29, 2018 6:43 pm

Yeah sure the only thing preventing you from being a major airline captain is a few years of seniority. Or get your CPA and you can be CFO of a large publicly traded airline. No offense but you sound totally deluded about what it takes to get to these positions.
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Re: Pilot or Accountant or Both

#13 Post by accountant_pilot » Sat Jun 30, 2018 10:00 am

Sharklasers wrote:
Fri Jun 29, 2018 2:32 pm
accountant_pilot wrote:
Fri Jun 29, 2018 12:43 pm
Interesting... just frustrating because if I return to flying I must go down to maybe 3000 mth and work my way back up. I would NOT make equivalent to what I get now, until I am CAPT on with AC or WJ.

Wonder, if I instruct PT for say... 10 years, would I have enough hours to go DIRECT Entry CAPT.

There are only 3 things certain in this world. Death, taxes and the fact no part time general aviation instructor will ever go direct entry captain at a major airline. The fact that you might seriously wonder that makes me think you might need to do a lot more research into how professional aviation works.
As an aside I would say that without seeing your T4 85% of mainline westjet and AC copilots make more than your average accountant by a large margin. The first year off flat pay AC FOs make between 100-160k. Tenured 777 FOs will easily break 200k while working a lot less than an accountant making a similar amount. Of course we do spend more nights away that accountant.
If I stick with accounting, my goal is moving up to a VP or CFO of a large public company where there would be stock options involved.

If I got airline, can you give me some information on:
1) route you took to get to where you are at? (Time and positions)
2) best route to take to get to Capt on with AC in the quickest amount of time *but of course being qualified!

Is it best to go jazz then AC or Georgian?
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Re: Pilot or Accountant or Both

#14 Post by digits_ » Sat Jun 30, 2018 10:02 am

accountant_pilot wrote:
Fri Jun 29, 2018 12:43 pm

Wonder, if I instruct PT for say... 10 years, would I have enough hours to go DIRECT Entry CAPT.
For a medevac captain position in a climate like today: yes. You could still make 140k/year like that if you can handle the schedule.
Airlines: nooooo
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Re: Pilot or Accountant or Both

#15 Post by accountant_pilot » Sat Jun 30, 2018 10:05 am

Jimmy2 wrote:
Fri Jun 29, 2018 6:43 pm
Yeah sure the only thing preventing you from being a major airline captain is a few years of seniority. Or get your CPA and you can be CFO of a large publicly traded airline. No offense but you sound totally deluded about what it takes to get to these positions.
I'm sure the path to a CFO is lined with challenges and likely be away from home a lot with meetings. Probably some backstabbing of your co workers so you van move up...
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Re: Pilot or Accountant or Both

#16 Post by Bede » Sun Jul 01, 2018 5:32 am

pgotaas wrote:
Sun Jul 01, 2018 4:43 am
Also to the person that wrote that the path to CFO is probably full of backstabbing your coworkers to move up...I don't even know what to say. That's not how the profession works.
I'm pretty sure that was sarcastic...
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Re: Pilot or Accountant or Both

#17 Post by trey kule » Sun Jul 01, 2018 7:05 am

The fact that you might seriously wonder that makes me think you might need to do a lot more research into how professional aviation works.
I was thinking that as well.. A bit puzzling from someone who has post graduate training, and has worked as a commercial pilot. Puzzling even more that they are making a link between an executuve position, and a flight crew position.

To the OP....You are not coming across as someone with the credentials you claim.
maybe spend a bit less time on social media looking for advice, and a bit more time researching your career path.
CFO’s at the majors are seldom , if ever, plucked from the hordes of the pilot union.
Pilots are technicians. CFOs are executives.

One or the other. If you love flying, get your fix privately, or part time.
Or become a lion tamer. That sounds like a cool job and will pair well with either being a pilot or an accountant.
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