Hi I'm Frank...
(sorry, couldn't resist),
It's a hard question, there is a lot of negativity, but, there are also good sides - like in any industry I guess.
There doesn't seem to be much growth in Aus at the moment, most of it is in Asia. As other guys mentioned, cadets and their own training programs are happening which cover their internal requirements.
That said, there are still aeroplanes flying and stuff still needs to move from place to place. People move on and positions do open up.
It really is a matter of who you know and if you're seen as an OK guy.
Not sure what it's like in Sydney, but, capital city first jobs are like hens teeth.
I think that an MECIR is a good thing to have early on, as it does give you more capability to get jobs done. Taking time off through work to do it becomes harder as time goes on, I think if you have a chance do get it earlier, the better - and use it as much as possible (even if it's an occasional blast in IMC with a few friends).
Operator wise, there are some real rough ones who you'll figure out it's not worth working for, and some that are pretty good. It's not worth risking your life and license for anyone who asks for anything dodgy.
Salary wise, it's has been pushed right down
- Won't get rich doing it.
Operators margins are very thin which makes it a tough industry for operators to survive! That also means that it might not take much for an operator to suffer if any unexpected costs come up (Engine making metal, New AD's, ADSB upgrades (they have been coming for a long time), etc...
If there's a way to have the best of both worlds - an existing job that pays the bills and has good stability, and another part time gig instructing and doing random charters that might be an option?...