Astraeus,(who I work for) took on all 6 Cadets who were selected on the Pprune scheme. They are all full time 737 Pilots. Some had low hours, some had 1000 plus, but all of them had the right attitude as far as SOP's, Teamwork, and willingness to learn, as well as pure flying ability.
I'm now involved in our Type Rating course, and we take on outside Students who want to fork out for their own rating at 15k plus vat. Cheap it aint!!
The quality of the students has next to nothing to do with their CV, or their "war stories", but is judged solely on their ability to adapt to 2 crew ops and fly to the appropriate standards.
So far, I know of at least 3 of them who we have employed straight off the Type Rating course, because we were impressed by their attitude and ability.
IMHO its down to the Airline having an open mind and thinking about its future Managers and Captains when it selects new F/O's, not just recruiting cannon fodder to discard at the next downturn.
Yes, you need some luck, but sat on your bum at home is not going to make you lucky. Decide why you are a great asset to a Company, then go sell yourself.