Tarmach,
You are more likely to get a job in this industry if you know someone with connections. Personal recommendations are worth their weight in gold.
It doesn't matter if you are a self-improver, flying instructor, OATS graduate or whatever. Its WHO you know that counts.
As for the £50K+, well would you be willing to take the risk, hopefully endup as a F/O on £20K+ a year with a mountain of debt to pay off?
I've been asking myself the very same question, except I'm looking at the modular route as I'm part way through my PPL at the moment and I enjoy my current job.
Loving your job is one thing, but love don't pay the bills. One has to wonder if this industry is a wolf in sheeps clothing? Once you find out what the industry is really like, its too late. Maybe thats why there are so many unhappy pilots out there.
I'd rather have fun flying in my spare time rather than worry about paying off a massive debt.
One final word, the schools don't have to care, all they are after is to get as many people through their doors as possible. Harsh maybe, but they are in business to make money.