From what I have read it's much more of a hassle to stay current with a JAA license than it is with a FAA license. Is this true? For some reason I have a feeling that Americans have it easier.
True. Staying current under JAA is more of a hassle and more expensive than under FAA. But I would guess the job opportunities in Europe (painfully few at the moment, with some airlines going bust and others on the brink of, but they do exist) would be limited on an FAA ticket as most operators (though certainly not all of them) and almost all airlines work on a JAA registered planes requiring JAA papers.
My initial plan was to undertake integrated training in Europe. However, I am not planning on paying so much money (120.000 Euro's) for licenses I wouldn't be able to use inside my Country as there are no jobs.
Pure economically speaking, it doesn't make much sense to start flight training with the aim of becoming an airline pilot at this moment. The current starting salaries are just not commensurate with the training cost and the work schedule. In addition, an overregulation of the industry, especially in Europe, creates overhead costs that stifle job creation.
But economics do not drive everything, otherwise we wouldn't have any clergy, primary school headmasters, red cross volunteers, artists or student career pilots.
The FO (24, 2200 hrs TT) on Colgan Air 3407 was dead tired from a crazy commuter schedule and on a ludicrous salary when she crashed on approach to Buffalo in 2009, but she probably loved her job as a pilot.
A friend of mine (sub 1000 hrs) at the local flying club just landed a job at Thomas Cook and they paid for the type rating (A320 I think). He is based a 20 minute drive from where he lives and tells me the schedule is super. So that does happen too.
I guess it all comes down to asking yourself :
Why do I want to become a pilot ?
For the money, job security, the attractive work schedule, a job close to home ? Then please consider something else. You can also fly privately next to a non-aviation related career.