As someone who has worked for both having done 3 years at easy before moving to Monarch at the beginning of last year, I can honestly say (in my opinion) Monarch is by far the better airline to work for. Comparable pay, better rostering, better pension, human management, guaranteed summer leave, better scheduling agreement, V.Strong BALPA representation to name but a few reasons.
I flew with some excellent guys at easy, but found the morale to be generally quite poor and fatigue was definately an issue. At Monarch we are working hard at the moment, but much of this is voluntary and is well rewarded. Even with this I am nothing near as tired after a working week as I was at easy.
I also have it on decent authority from people a lot more in the know than myself or some of the other speculators on here that Monarch's future is quite rosy, all the cost saving targets have been met and Airframes increasing by 20% next year (rumour has it they're even brand new A/C). 3 new bases and a number of new routes.