Agree with everything that morespeedtape has mentioned above. Except for the last line. There are people in my course with slightly less than 500 hours total time. However, all of them had a current flying position before applying for the job.
Also quoting the Cathay Pacific website, I don't know how you guys came up with the 500 hours requirement?
'Advanced Entry Programme
This is a 31-week programme for global applicants who possess an ICAO CPL and have in excess of 250 hours flight time in specified categories.'