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I don't think it's money. I think it's requirements and training pipeline restraints. The system is predicated on being able to throw bodies at the problem, but there is a distinct lack of qualified individuals to back that up. Personally, I didn't realize ATC as a possible career path until I was 36-- imagine my surprise when I found that I had already aged out.
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> but there is a distinct lack of qualified individuals to back that up

Which means either the compensation is insufficient to attract and retain the necessary number of qualified individuals, or the FAA lacks the resources to train an appropriate number of qualified individuals. Either way, it's about money.

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Who would want to work that job once they find out what the day-to-day is like? I had an intern who looked at that out of the Air Force but he found out what you get paid and what the expectations are for the job and he figured he'd try his luck on something easier and better-paying like life-preserving medical devices. On a related note, why do you think nobody who you'd actually want teaching public school actually teaches public school in the US?
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It’s not a money thing. It’s a shortage of people who are mentally able to do the job mixed with terrible hours and early forced retirements. ATC school has a failure rate of over 50 percent.
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It's partially a money thing. ATC is under-compensated. They'd get more - and more talented - people interested if the money made up for the stress, hours, and early forced retirement.
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Or increased their hiring funnel. Air traffic controller applicants must be under 31 years old for initial hire, which rules out a lot of potential hires.
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Why not both? If it paid better then more people would apply to ATC school.
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ATC positions already have a very low chance of even getting a spot in ATC school. There are tons of applicants for every opening.
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