True. Staying current under JAA is more of a hassle and more expensive than under FAA. But I would guess the job opportunities in Europe (painfully few at the moment, with some airlines going bust and others on the brink of, but they do exist) would be limited on an FAA ticket as most operators (though certainly not all of them) and almost all airlines work on a JAA registered planes requiring JAA papers.
How do you see the job market in Europe right now as opposed to the USA, Caribbean, South America and Asia? You see, I would not mind flying a Cessna caravan in Alaska or in the Caribbean. Wouldn't it make more sense to go the cheap route and get FAA licenses?
Pure economically speaking, it doesn't make much sense to start flight training with the aim of becoming an airline pilot at this moment. The current starting salaries are just not commensurate with the training cost and the work schedule. In addition, an overregulation of the industry, especially in Europe, creates overhead costs that stifle job creation.
Pretty much agree with this. The safest thing one can do is go the air force/marines route or find a sponsorship scheme. If those fail, the only option in Europe is modular training. That's about 60-70k Euro's. It comes down to if you can afford it or not. I would at least save half of the money and take out a loan for the rest of it. I'm thankful I also don't have other costs such as a mortgage.
A friend of mine (sub 1000 hrs) at the local flying club just landed a job at Thomas Cook and they paid for the type rating (A320 I think). He is based a 20 minute drive from where he lives and tells me the schedule is super. So that does happen too.
Did he train integrated?
For the money, job security, the attractive work schedule, a job close to home ? Then please consider something else. You can also fly privately next to a non-aviation related career.
Another thing about USA vs Europe: General Aviation seems to be much more expensive and regulated in Europe.