I was hired slightly over a year ago. I had about five years of 121 experience as SIC, but the meat of my resume was based on 91/135, which was also where ALL of my TPIC time came from. Here are a few things to consider, at least from my perspective.

You're probably not at the top of the stack, but not out of the race either. 121 time is valuable, but we hire a LOT of military guys with zero 121 experience (or any civilian flight experience at all). The biggest drawback to that is you'll have to build 1000 hours of 121 experience as an SIC before you're eligible to upgrade. At FedEx, that will be about three years. We have some guys who have been awarded captain positions but can't train for them yet because they're short on their 121 time (IOW, ex-military). There are a lot of boxes that could be checked on that application, but only because it's intended to be exhaustive for all types of applicants. Very few applicants can check more than a few, especially considering the age of most of our new hires. Don't sweat it if you don't have the space shuttle time.

First of all, being a Safety Officer isn't a position recognized by Part 119, and therefore doesn't mean much. It checks another box, but not such a big box that it should weigh very heavily in your decision-making.

As far as the other job is concerned, you didn't mention what kind of operation that single airplane department is. If you would be a chief pilot on a Part 135 certificate, that's a position regulated by Part 119. Definitely a good thing. But, if that department is Part 91, the chief pilot title might mean a lot, or it might mean nothing. Anyone who owns and/or pilots an airplane under Part 91 could call themselves a chief pilot. That could encompass huge responsibilities if they were a CP for a large corporate department (McDonald's, Wal-Mart, etc.). Or it might mean next to nothing if you're a single airplane, single pilot operation just flying someone around in a Baron under Part 91.

On the flip side, a Part 119 chief pilot is more likely managing/hiring/firing employees, doing all the SIDA stuff, ensuring Part 135 compliance, aircraft conformities, contracting maintenance, managing OpSpecs, dealing with the FAA much more intimately, undergoing inspections, managing the mandatory drug and alcohol screening program, writing manuals, tracking Part 135 pilot currencies and training requirements, overseeing a will-carry hazmat program, managing a SMS program, maintaining an ARGUS certification, the list goes on and on. I know, because I did all that crap as a Part 135 Chief Pilot. While not directly applicable to a job at FedEx, that's all very valuable experience and is valued by the pilot recruitment people.

Then don't do it. Working at FedEx is a great goal, but you have to do what's best for you and your family in the short run too. Keep your ear to the ground and keep looking for a better opportunity that would satisfy your short term needs and long term goals. The pilot shortage is hitting all segments of the aviation industry. Keep looking.

I wouldn't say your current job or experience level is in any way disqualifying. I had a similar background when I was hired, with the exception of having 121 experience, and a Part 119 Chief Pilot position listed on my resume (and a few other non-Part 119 Director level positions). Getting the interview is the hardest part, but I wouldn't suggest that you sacrifice everything else in your life in the hopes that it would earn you the interview. There are so many opportunities right now, there is no reason for your to take a step backwards and make sacrifices without any guaranteed benefit.

It sounds like you're rated in a pretty good size bizjet. If your current job allows for it, you might consider putting yourself out there as a contract pilot to make connections with other companies. Just investigate and understand your insurance requirements and liabilities first when flying as a contractor first.