Can an Aerospace Engineer afford an airplane?

Question

I think the base salary at a place like Boeing is 60k. Could I afford an airplane if I put my money up? About how long do you think it would take me?

Answer 1

There are many places to live and work in the aerospace industry and many are much less expensive than Seattle. Wichita Kansas (Cessna), Olathe Kansas (Garmin), Cedar Rapids Iowa (Rockford Collins), Phoenix Arizona (Honeywell) and the list goes on.

Used aircraft are affordable but I've noticed that building your own is much more rewarding. If you have an engineering degree you will already have a bit of a head start in the process anyway. I'd suggest you pick up a magazine called "Kit plane" to see a few articles on how its done.

You may also want to double check on the salary information you have. The last time I looked mechanical engineers had a starting salary right out of university of about 50-60k. Add a few years of pay increases and you will be looking at higher annual number.

Answer 2

You can get an old C-172 for around 30-50K.  It's going to be pretty basic on the avionics.  YOu can fiance an aircraft like a house for 30 years.  To tell you the truth 60K is not that much money and if you are living in seatle it is going to go fast.  You may be able to afford the plane, but you also have to take in to account the 100 hour and annual inspection.  Not to mention the 3000 hour engine tear down.  Annuals can run easliy $7,000 and up if  they find a bunch of stuff wrong with them.  You may want to look into a fractional type deal and go in on a plane with a group of people.  Don't forget AVgas is around $6.00 a gallon and higher right now.

Answer 3

I worked at an airline where the base pay was comparable to that. I knew a couple of mechanics that owned their own airplanes. They were small airplanes, like a Cessna 152 or a Piper Cub, but it was theirs.

You just have to shop around and look for a good deal. Right now, with fuel as expensive as it is, private airplanes should be fairly cheap.

Answer 4

Of course you can.

Answer 5

Cessna 152 (used) is only about $15K (if I remember correctly).

Some people buy "shares" and split the cost.

Good Luck...

Answer 6

60k ain't much for an engineer.

anybody can afford an airplane.  It's all about making choices.

Buy it *before* you get married (if it's not too late), then it'll be part of who you are.  Wait till after, there will always be competing priorities.

Answer 7

Yes, if you are not married and don't have children.