is it common place that airlines are taking advantage of a pilots passion to be in the air and paying them in magic beans? (so to speak)..
Bah, it's a TWO edged sword!!!
There are a lot of good & solid employers out there who pay a very decent wage and offer good conditions for their crew, the problem is just that they either are not recruiting at the moment, or people just don't get through their interviews.
At some airlines, you throw money at them, and they give you a go. That's where a lot of people end up and then constantly moan about what they did. Digging their own hole so to speak.
There's still some airlines who are a quality employer, with good unions behind who offer a good package. Of course to get into one of those you have to do psychometric assessments, group interviews, single interviews and actually have more knowledge than how you get a loan for a TR. That's why most don't make it.
Don't be fooled, there's a lot of crap employers around who will exploit your dreams, but work hard and don't listen to everyone and his dog on PPRUNE (mainly because the people who come here often just post about what they didn't get, not what they did) and you'll make it.
It's about dedication and about knowing what you want. There's no point in going in unprepared and then shelling out 30 grand for a type rating for some airline that will treat you like crap anyway. Aim higher.