CYM,
For the conversion to JAA - first off yeah, it's hard! I hold a New Zealand CPL MEIR with 210 hours (pretty much the same level as a Canadian CPL)... here's what I have to do to convert, keeping in mind I am doing this in Ireland, I assume the process is pretty standard across the EU.
1) Must write all 14 ATPL exams, split into two modules of 7 exams each. There is also a specific amount of time required for study but from what I can tell there is no way to monitor that. IE. if you have an Instrument rating, the study required is cut from 650hrs to 35hrs, or something around those numbers.
If you have recently written your CPL exams you will find a lot of it to be review and can probably allot yourself around two months or 6 weeks study for each module. (Homestudy kit 1600-2500 Euro)
2) An additional 15 hours of Instrument flying must be completed to satisfy the JAA
3) A CPL skills/flight test on a retractable gear aircraft. I have been told that I should probably get about 10 hours of flying with an instructor before the test to familiarise myself with local rules and to refresh my flying skills. (160 Euro/hr.)
4) Almost every airline in the EU requires that a pilot has done an MCC course. There are many outfits in Ireland and the UK that do this and consists of 20hours sim time. (3500-5000 Euro)
5) And if you're lucky enough to get looked at when you're finished you would further your chances of employment by self funding yourself. ie. Ryanair and those likes at (21000-25000Euro 737 or 18000 ATR). I'd only do this if it was under contract with a carrier.
So, yeah it's tough and yeah, it's expensive but I've looked at it as being a way to achieve my goal and if you have the cash then it's a way to jump up the ranks to the airlines quicker. Personally, if all goes well in my dream world I tend to sometimes live in, I would like to stay here for 5-7 years, build my hours and then return to Canada where I will probably at 5000 or so hours have just enough Total Time to get a look by Westjet or something!!!
Cheers.
WISJ