I graduated from an FX makeup school, Complections International in Toronto. And I know a bunch of people that went to Savini's school and one guy who taught there for a while. So as you can imagine I have heard mixed reviews.
I would like to put forth a word of caution to any one looking to forge a career in FX makeup. Be careful. I'll explain TWO things that I wished someone had told me.
1. The simple truth is not every movie needs FX work and with the number of aspiring artists that these schools are turning out I feel that alot of them will be very dissapointed that they will have a hard time making a living solely off FX work. I graduated almost 10 years ago and almost ALL my pay checks come from doing "staight makeup gigs" So if you want to have a career in FX make sure your great at natural makeup. Every single movie needs that.
2.Unions. I wish someone had told me that if I actually wanted to make a comfortable and consistant income I would need to be in the union. I have worked literally hundreds of free or deferred (which I think is latin for sucker) projects and lots of indie and low budgets that didnt pay me what i was worth. Then I wised up and went union. And after words i had insurance, a guaranteed pay rate, and consistant work. It was incrediably hard to get in but completely worth it.
In other words its a tough field with a high burn out rate. I dont know of anyone from my class thats still in the industry besides me. It is possible, but be prepared for a challenge.