training bonds

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Would you take a job with a training bond?

Poll ended at Mon Mar 01, 2004 9:33 am

Never have, never will.
7
10%
Never have, but would.
35
52%
I have, but will not again.
5
7%
I have, and would again.
20
30%
 
Total votes: 67

loopy
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training bonds

Post by loopy »

I know it's a topic that has from time to time been beaten to death. People are often polarized on this topic.

1. Why?

2. Who has worked somewhere where you have paid a bond?

3. How was your experience?

4. For those getting on where there is no bond but a considerable training expense, are you signing a contract to stay for X amount of time?

5. Is going somewhere you pay a bond better than places that only hire PPC'd pilots and don't train there own?
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RB211
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Post by RB211 »

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.
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Leerboy
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Post by Leerboy »

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.
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shitdisturber
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Post by shitdisturber »

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.
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loopy
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Post by loopy »

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.
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RB211
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Post by RB211 »

Of course if some companies paid and treated guys half decently maybe turnover wouldn't be so high!! :wink:
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ahramin
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Correct me if i am wrong but

Post by ahramin »

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.

ahramin
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RB211
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Post by RB211 »

Haven't heard of that scenario. To my understanding it is a written, signed aggreement between the pilot and company.
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flyboy
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Post by flyboy »

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.
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loopy
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Post by loopy »

Hey, lot's of hits on the poll. I was hoping for some more dialolgue on this one. Upt 'er out there guys (and gals).
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loopy
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Post by loopy »

Damn, no edit! What the hell is an "upt'er"? If anybody knows... :? :shock:
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Post by Right Seat Captain »

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?
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loopy
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Post by loopy »

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? :roll:
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N8
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Post by N8 »

loopy wrote:Damn, no edit! What the hell is an "upt'er"? If anybody knows... :? :shock:
Hey Loop check this out
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loopy
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Post by loopy »

Thanks N8. BTW, is that a picture of a certain entrepeneur having a rant? :?: :wink:
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oldtimer
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training bonds

Post by oldtimer »

Most bonds as written are not enforceable, that is why cash up front. It the company goes belly up, it a good thing pilots know the meaning of SOL.
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pimper
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Post by pimper »

My guess would be Clive Beddoe!! Just put a mic in his hand and watch him go!
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N8
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Post by N8 »

loopy wrote:Thanks N8. BTW, is that a picture of a certain entrepeneur having a rant?
Close.
That's how I like to dance!
They look like pretty much the same thing though.
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double-j
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Post by double-j »

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!

jj
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pimper
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Post by pimper »

Behind him would be the proper place, if you stood in front you would probably get knocked over. Lets hear what you know about ML failed airlines.
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