If what you want is to get into aviation and have a job with a good airline REX is one of the best cadetships a out there.
U go through ur interviews. If successful u'll start the training program. It's supposed to be 32 weeks but some people have finished it in over a year due to instructor and aircraft availability. I finished it in 51 weeks.
Rex pays for ur accommodation and meals past the 32 weeks, or whatever training period they r now stating, haven't checked.
After that u will have 5 weeks of Saab 340 groundschool, pretty though few weeks, lots of info. Then u go to the sim in melb for a week and a half, subject to availability. At the moment the sim in melb is pretty busy, but Rex has just built a new one in Wagga which should allow more spots. I waited for 3 months before my sim. Once u pass ur prof check (sim test) u go to the base they have given u and commence training, u'll only fly with a training captain. It took me a couple of months to finish the training and then u do a check to line. Once u r checked u can operate with any captain.
Training at Rex is pretty rigorous and it has one of the hardest sim checks (spoken to virgin and jetstar pilots who were with Rex and they say their checks r nothing compared to ours).
Everyone gets checked every 3 months, twice in the aircraft and twice in the sim, one of them is ur instrument renewal.
Depending where u r based will mean how much u work. FOs in syd r working more than FOs in Adelaide as there seemed to be too many FOs in Adelaide. However, some FOs r moving to other bases and work has picked up, flying an average of 50 hrs flight time per month in Sydney, Melbourne or Adelaide. Cadets r looking at at least 2 years before having the requirements to apply for the PICUS program which will give the FO 500 hrs command. Duration of the program is around 2 years flying 500 hrs a year. Once u finish the PICUS program u should have around 1500 aeronautical hrs and will be able to apply for command. 6-12 months training will give u the extra 500 aeronautical needed for the min 2000 aeronautical u r required to have to fly as a captain with Rex.
So it might take up to 5 years to become a captain, this is also providing they have captaincy places available. In an industry like aviation were u don't know who is gonna be there next year this quite uncertain. There might be lots of places or u might have to wait for a while.
I know a few people that while on PICUS they got accepted into jetstar. The only thing extra they needed that Rex didn't provide was a frozen atpl.
All in all Rex is a good airline to work for. U can go either the GA way or the cadet way, either way has it's cons and pros. U will certainly won't be earning 150k a year as a 1st year FO, but then again don't think u'll be earning that flying a 172. Salary is enough to live well, have a good life style and enjoy flying while getting paid for it