White Knight - I quite agree. EXCEPT that newbies nowadays (if you can find an airline who will pay the TR at all) are expected to accept the bond AND the lower salary. BA being the obvious example I can think of - as a low hour (i.e. no previous type rating) pilot you can expect your starting salary to be £31k, whereas if you enter having already had a TR you start on
£48,500. Figures from PPJN, here: British Airways jobs, payscales and entry requirements.
The story is roughly similar at other airlines....if the operator pays the TR at all, the newbie will summarily drop their pants on salary for a defined number of years in addition to the bond. Not necessarily UNfair - but you can see that for your first TR nowadays, you WILL pay for it - by hook or by crook. The only "choice" is whether you'd prefer the hit upfront, or over four/five years....
Admittedly, once you're past that illusive first job (and I say illusive, as I'm busy trying desperately hard to get that break) the bond is the way forward