Imran, this is my take on your alternative. You can sit on your arse and wait for a cadetship to come up, or you can be proactive and kick start your career by following this rough guide:
Get a job.
Save your money.
Start learning to fly when you have saved sufficient funds.
Study hard.
Keep working and saving (as above).
Continue your flying training.
Study hard.
Consider taking out a loan if you have established a credit rating and still want to fly.
Keep working and saving (as above).
Study hard.
Get your CPL (There's no such thing as a "frozen ATPL").
Go out and find yourself your first flying job - You may need to leave your home city or town.
Be prepared for knockbacks. Your mum and dad can't prepare you for this. They don't have the capability.
Study hard (this time for your CIR and ATPL subjects) - There's no such thing as a "frozen ATPL" Did I write that already?
Network, and use this to progress onto other jobs in GA. Gain EXPERIENCE. There's no substitute for EXPERIENCE.
Study hard.
Apply to the airlines. Don't bull**** in your resumé or CV. As a former airline recruiter, we are trained to smell bull****ters a mile away. Don't include "frozen ATPL" in your application. Did I write that already?
Work hard on your IF manual flying skills.
Work hard on your IF manual flying skills.
Present well for your airline interview. Leave your attitude and any chips you might be carrying on your shoulders at home with mum and dad.
Be forthright and confident in your interview. Don't bull****. Under no circumstances say "to be quite honest......." as an answer to an interview question. Did I write we can smell a bull****ter a mile away?
Be prepared to f*ckup in the sim ride. We all do. Any company worth it's salt will assess your trainability with some remedial training input (time permitting). Do the best you can. Listen to your instructor. He or she wants you to pass.
If you're lucky enough to beat the other 4 or more applicants for the job: Well done!
Study hard.
Listen to your training captain. He or she WANTS to get you through your training. It's a matter of strong professional pride for those that choose to take on a training role. You probably don't understand that yet, but your training captain will spend many hours of his or her OWN time making sure you have the tools needed to get you through the check to line and be a half-decent line pilot. He or she is prepared to give up time with the family, or just time off to ensure you're up to standard. Never forget this.
Show your gratitude to your training captain.
When you get on line, you need to have a multiple personality disorder to fly the right hand seat. This is not a bad thing. It builds character for future promotion. Learn to adapt. Your mum and dad can't prepare you for this.
Pay close attention to your line captains. They have a lot to offer in terms of personal/professional development. Choose all the good qualities and leadership styles of the captains you enjoy flying with. Disregard (but note) the poor leadership styles of those you dislike flying with. Do not emulate them. Put these experiences in your toolbox for when you eventually come up for a command.
Study hard.
Keep an open mind.
I hope this helps.