Thousands of pilots meet the basic requirements (1000+ TPIC and a 4 year degree). Once you have that, its what sets you apart that helps you out. Many things can do this. Chief pilot, check airman, safety department, instructor status at some point. Being a CFI. Having a good letter of recommendation. etc.... how many "bonus points" boxes you can check off.
It can't hurt to have and a lot of people really respect it. I think the fact that you were previously a CFI will be almost as valuable though. Its more about the ability to obtain it and the experiences you gained from it than the current possession of it.
Just look at how your resume stacks up compared to who you envision your competition to be.