This is always very much a 'hot topic' with flight crew. I think DA50driver and Davjet sum up the conflicting arguments very well.
I would like to see more employers / hirers like DA50driver who are prepared to show faith in the crew they employ and pay for their rating, the faith part being that the pilots will stick around and make good the investment made in them.
I see the whole situation as a tension between pilots and companies. The companies have the upper hand right now with this recession and the number of rated pilots around. These times also mean there are those who are downright desperate and will pile more debt on top of existing debt to do a rating and get a job. There may come a time in the next few years when the boot is on the other foot !
I was lucky enough to work in Ops for a company for a year, then get made up to pilot and have my rating paid for. Its an old route, but it does seem to work and I know there are other companies out there who still do this.
I can fully understand people who weigh up the financial pros and cons of paying for a rating and go for it ie. pay for a rating now, but get a job and start earning reasonable money. There are plenty who cant afford to do that though, and the paying brigade encourage the 'let em pay for it' attitude of employers, thus blocking out lots of talented types who cant afford to pay.
My personal advice would be to stick to your guns at least for a year or 2, to see whether you can turn up one of the better employers who will pay for the type rating. As somebody said, you've got to network to the nth degree ! Longer term we should be sticking together as pilots and trying to force a change in attitude from employers.