Im a 12 year guy at Delta, a 911 era legacy pilot. Almost all of my buds have seen at least 1 furlough and or loss of a job, regardless of who they worked for. Only a couple have come through the last 10 years with what would be considered a good career so far. Outsourcing has led to more pilots making less money and fewer pilots making the good money. If I knew at 21 what I know now, I would not be an airline pilot. It's unfortunate when you achieve your "dream" only to find out that you're not happy with your career. Of course I have many friends that still enjoy the job. Although to most it is still a job and has lost it's appeal of what it once was. Today at Delta I often work just as many days a month as I did at AMR Eagle.

Bottom line, you had better really want this job as it can be a tough life. The 1500 hr rule will only make the up and coming generation spend another year of your life getting flight time, other than that it's not a game changer in regards to compensation.