Professional Independent Contract Pilots...why do you do it?

[Stinkbug]

This question is geared toward FULL TIME contract pilots, not part-timers trying to make extra cash on the side.

I'm curious if any of you who fall into that category could share why, given the fact that you have to market yourself, pay for your own currency, health insurance, retirement, etc...why do you choose that line of work over, say, flying for one Part 91 operator or a reputable charter outfit? What are the pros?

 

[AA717driver]

I looked into it and did a fair amount of research.

I liked the fact that you aren't locked into one operation. If you're doing well, it's more money and you can, to a certain extent, have more control over your schedule.

But it's an uphill slog if you don't have a consistent client or three lined up.

TC

 

[Stinkbug]

Thanks for your perspective. I've researched it for a couple weeks now and it seems like a hard row to hoe, at least when you're only qualified in Cessna products.

 

[CorpCaptain]

I would contact a service such as Jet Aviation. Once your through the pile of BS paperwork they do a phenomenal job of keeping you busy, despite flying a Cessna If you need a contact PM me and I can point you in the right direction. Good Luck!

 

[greed]

If you have good clients and a good CPA it can be very lucrative, I enjoy it and do well but I will admit that if you don't have good networking skills it won't work.

 

[AA717driver]

For mid to large cabin, it sure helps (mandatory?) to live within walking distance from TEB.

TC

 

[paid4training]

What's the going daily rate for contract pilots in Texas? I think I may have undersold myself. I have little time in the King Air so they are being patient with me but I am curious how much I should be making once I get the experience I need.

 

[sshrae]

Most of the contract work I do is in the two aircraft that my regular corporate fly department keeps me current in so no paying out of pocket for training. It is nice to make a little extra cash on the side for say $800/day on top of salary. I have found that in my city (San Diego/LA) there is sometimes so much contract work out there that you have to turn trips down regularly.

 

[linecheck]

If a pilot is doing exclusive contract work, say in two types of aircraft... possibly three, what type of salary do you think one can make if they are in the Northeast?

Also, to be a professional contractor, does one set up a formal LLC to reduce their liability, and what kind of costs are incurred trying to set up health insurance for a family of 4?

thx

 

[sshrae]

If a pilot is doing exclusive contract work, say in two types of aircraft... possibly three, what type of salary do you think one can make if they are in the Northeast?

Also, to be a professional contractor, does one set up a formal LLC to reduce their liability, and what kind of costs are incurred trying to set up health insurance for a family of 4?

thx

Good questions, as far as salary I think there are a lot of variables. First, what kind of airplane(s) are we talking about. Mid size jets in the northeast should go from 800-1000 per day. Large from 1000-1500 per day. Small citations and similar are around 500-800. If you can get 10-15 days per month I think you are going to be pretty content. However, you will have to brace for those months when you get 5 days.
An LLC or S corp is the best way to contract in my opinion for the reasons you stated. As for health insurance I can't answer that, sorry, I have it through my regular job. Good luck, and remember to always be networking as a contract guy. It may take a while to build up a regular clientele.