Calm down fellas!!
757 Manipulator,
I think you'll find it is still a requirement under CAOs to have a requisite amount of Command time before you can be PIC of a multi-pilot aircraft (I think it's 750, I'm not sure if there is a minimum amount of twin time.)
It's an archaic throw-back to the bush-flying type background of the majority of Australian Airline aspirents.
As such, it is pointless joining an airline with less as an FO, as you will never gain the required hours in the RHS.
I think Qantas get around it as FOs can log command time while the Captain is off the Flight deck, but at Ansett we had Cadets who hd to go and fly lighties in their spare time to get the hours to qualify for command.
Tinpis,
I'm afraid you are displaying the usual Aus-centris head-in-sand attitudes prevelent in Aus Aviation. In Europe virtually no new-hire airline FO would have 500 hrs twin command, as there are virtually no twins here to fly!! Most have either come straight from flying school with 250 odd hours, or maybe have done a couple of years as FO in a turboprop. On the whole they do a bangup job as FOs, and most successfully upgrade after about 4 years with 3000 hrs or there abouts.
Those few BE200s and the like are indeed being flown by people with less than 500 hrs command, as there is no one else to fly them.
The world does not finish at Darwin...