I think a move to MON from any low cost is a step up.
In what respect?
A permanant contract with Monarch looking at the present may well be a step up from a pay by the hour Ryanair FO contract - I too would probably make the move.
When comparing it to a permanant FO contract with easy, particualy on a mainland Europe contract it is a no brainer in my opinion - don't move.
The middle ground is easyJet FlexiCrew......I honestly don't know what I'd do - resign myself to never having a planned future, no guaranteed income, no proper pension, no structure, no respect with a view that the Middle East is a possibility OR join Monarch, a company that right now offers a
reasonable amount on a permanant contract. However I think all would agree, if they were to put their money on an airline not being around in the next 5 years then it'll be Monarch. That at least seems to be the opinion with everyone I fly with. If that happens then FlexiCrew, the Middle East or the Far East are going to be the only options for the vast majority if they wish to continue being a pilot......and they're lucky.
'Better the devil you know than the devil you don't'
Anyone joining a privately owned company which discloses nothing and does things like Monarch did earlier this year where their CEO made a rapid exit, never to be justified or replaced should approach cautiously.
I'd finally close by saying Monarch is quite a small airline where I'd have thought 'everyone knows everyone'. People from bigger airlines may not find this comfortable.