Just to be clear, there is a difference between a bond and paying/loaning money from one's own pocket for training.
A bond entails agreeing to stay for a given period of time or pay for a prorated portion of the predetermined training costs when leaving. That, at any rate, is what I consider to be a training bond. It was how it was arranged at C3. The primary intent is to discourage endorsement collectors.
Bonds make sure you do your homework and make a decision based on wether you wish to stick around for the term agreed. I do have a problem with companies that try to Re-bond after the term is up or if you move on to a different aircraft. The way I see it, the first bond is fine, after that you have proven yourself and you owe the company nothing but professional courtesy.
Unfortunately bonds exist because there are far too many pilots out there who are lacking in integrity. If a company is going to pay for your training on whatever expensive piece of equipment you're flying; is it too much to expect you to stick around for a year or two?
Sadly too many out there have gotten a PPC then jumped ship at the first available opportunity and left the employer holding the bag.
Leerboy & Shitdisturber, you both make excellent points. Some pilots have no integrity, they are the reason why companies go the bond route. On the other hand I would be pissed if my employer wanted me to bond again to go to a different type.
My understanding of a training bond is that you go to an insurance company and pay them to post a bond for you. The flying company then trains you and if you bugger off the insurance company pays the flying company the cost of your training, and good luck ever getting a bond again. I seem to recall the figure of 10% of bonds end up being paid out, which means that nine out of ten pilots do not jump ship once they have the PPC.
Every company is different, in my case I actually had to go out and get a loan, write a check to the employer and he makes direct payments toward the loan. Maybe not the safest way, and I would not necessarily recommend that, and I'll probably get flack here for saying it. But I trust my boss, he's been good to me, and I'v known him for a long time, so I did it.
Just from a reverse point of view, especially in today's industry, what happens if the company cute you, or worse goes under. Whose left holding the bag in a training bond?
Good point. Any of you folks that have done bonds. What type of wording is in these agreements? The company is doing a bond to protect their but, what about yours?
Well pimper, I would rather stand behind a guy with a strong opinion and a proven track record than drop 30 large on a guy who's only success is failing airlines!
