If you would like to have a career as an overhead crane operator, you will…
Many people use a lending facility to pay for their crane operator training. This has worked very well over the years. In fact, crane operators are one of the highest paid heavy equipment operators so repaying the loan has not been a problem. Low interest rates have made borrowing a little easier on the pocket although lenders have become a little tougher when it comes to lending criteria. This could all change.
The latest figures are showing that we are well and truly out of a recession and that the economy is starting to grow. A growing economy inevitably leads to one thing – increased interest rates. This is particularly the case if inflation also starts to grow. I am sure there are many out there that remember the high interest rates of the 80’s following a severe recession.
What does this mean for those looking to become crane operators? If you are going to fund your crane operator training using a credit source, do it now before rates start to climb. Past experience has shown the Federal Reserve starts slowly then moves quickly. Before you know it official interest rates will be up around the six or seven percent mark. This can equate to double that in lending markets, triple when it comes to loans with high risk.
Crane operators are still amongst the highest paid when it comes to heavy equipment operations. If you are considering a career as a crane operator then now is the time to act. Demand for operators will increase over the next 12 months, however, waiting six or nine months could see you paying considerably more for your crane operator training at a time when demand may have already peaked. Can you really afford to wait?