BikerTwo,
Firstly welcome to the world of aviation and welcome to PPRUNE.
It is not unheard of to get a job at 40 plus. As has been mentioned, it does narrow down your options in the jobs that will be available to you when you finish your licences. There are airlines around, as said, typically TP operators that will look favourably on more mature pilots. I have known a couple of guys to get jobs with Biz jet operators too. I am sure you have done more research, but in this game its all about timing and getting to know the right people. Of course flying jets will be a little more tricky, purely because in this day and age you will need experience before you are eligible to apply for those types of jobs.
As an First Officer on a TP and depending on the airline you can typically earn anything from around £23K upwards, Captains will earn £40K plus.
All the best with it.