The answer hangs on your age and other stuff like that. On the assumption that you are not going for an airline job, and have a CPL/IR, a JAA CPL is good for
1. Instructing (and getting paid for it, but you will never make anything like real money doing that)
2. Ferrying EU-reg planes (not sure how much work there is for that as most planes serious enough to be worth ferrying somewhere tend to be N-reg)
3. Being a paid pilot for a plane owner who gets you to fly him (and his family etc) around the place, in an EU-reg plane (but again not too many privately owned turboprops and jets flown by a paid crew are EU-reg, unless operated on an AOC i.e. for charter work)
4. Being a "permanent instructor" who flies more or less constantly with the wealthy owner of a turboprop or a jet. Many of the pilot-owners of these (and very very few jets are owner-flown) do far too few hours to stay really current so they fly with freelance instructors a lot. But to get into this line you need to have the right experience and be kicking around for a while, building contacts.
A CPL without an IR is completely useless except for 1.
Maybe other options? Can't think of any right now. For options 2 and 3 and 4 you would improve your chances by getting an FAA CPL/IR as well. But I know from friends who have been down this road that there is not exactly a lot of work there and what there is tends to go to experienced pilots.