ATPL
I would not do it again. Its too difficult to get a job and too much uncertainties in this industry. we had the fun of experiencing 09/11 job market with major airlines bust
I have seen many of my friends who could not get a job, any job (even with 500 applications)
As others have said, the timing must be perfect which is not obvious, especially when working at the same time which i did, since a JAR fATPL can then take 2-3 years at least (who can predict what happens in 3 years times ?)
I think it is even a better idea to buy a private airplane and fly for fun on week-ends, even IFR.
if your father is chief pilot or owns an airline, do it for sure however