Agreed
I too, had an offer several years ago and have joined the Canadian Air Force, not as a pilot but a navigator (now called Combat Systems Officer).
You description of the duties as an SO, ie flight management duties, is exactly what my current job entails, but the thing with the military is you'll always be paid more and will eventually move up the ladder.
I turned the offer down on another issue: pension. I don't remember what the package was, but it is not perpetual. The military pension is perpetual and is 70% of my 5 highest grossing years. Added with the special allowances and strict crew rest requirements, I would say Cathay is a crappy deal IF you're a local boy, ie HKID or Birth Certificate.
I have to say I was glad I didn't join CX...as I'm probably making the same as an FO, as a student. I'll be promoted and receive a raise after I earn my wings.
The cost of a ATPL with hours might be ugly, but like a cell phone deal, you'll end up losing more money on a scheme like this because CX is here to make money for their shareholders, not its employees.
Take Care