2 years on the line having done an MPL;
The training was good, we started on the line with far more Jet sim experience than someone with an fATPL, yes it does sort of limit you to multi-crew airline ops but thats what you signed up for so I don't see it as a huge disadvantage. We were lucky and got a tax free 'bond' added to our salary. We should save in the region of £30k over several years on income tax. The bond probably doesn't exist anymore and don't think it ever will again due to the large payment if MPL pilots are made redundant.
Things to note; there is absolutely no guarantee of a job afterwards, eJ canned a lot of their MPL cadets whilst still at flight school, you can't blame them really. Until you sign the employment contract having finished flight school you don't have a job. The ones that were canned face a hefty bill to realign their training to the fATPL scheme, but from what I've heard (do qualify this though) you can add new type ratings onto an MPL like you can to a fATPL. So if you were chopped, but got another job on a different type, apart from paying for your rating you should be able to add it to your existing MPL. Also you are not tied to an airline, I know BA were taking eJ MPL cadets, so you could go and work for a different operator flying the same type.
If I had known then what I know now I would advise people to go modular and find a sponsored type rating. Will save you so much money. Flight training costs are obscene nowadays. CAE were charging ~£40k+ for a 320 TR, madness.
My advice now would be don't even think about flight training for at least 12 months from now. There are a lot of redundant pilots out there and the covid recovery is going to take a while, also we are entering one of the biggest, if not the biggest, recession in modern history. People may not want to fly that much anymore, or they may not be allowed to. We just don't know yet. Until we do, don't gamble away huge sums of money.