Most majors require in the neighborhood of 1000-2000 hours of PIC time in a jet, AKA Captain time to get hired. Not competitive; required. Now, there are some that don't require this, but most do.
You can travel for either free or a greatly reduced fee (depending on where you work, generally in the $50 to $100 a year range, unlimited flights) on your own airline and any agreements you have with other carriers, even if you're off duty. These benefits generally extend to immediate family members and in some cases, parents, however, they usually have to pay a nominal fee per flight, usually in the $25-$50 per flight range. As the actual pilot, if you're with a carrier that has reciprocal jumpseat agreements and you're in CASS, you can travel with any airline you have agreements with (most airlines, in otherwords) for free, either in the cockpit or in the cabin, depending on which is available.
One small thing about reserve: your monthly guarantee is a MINIMUM guarantee. If you work five hours over your guarantee, you get paid for your guarantee plus the extra five hours. Also, no matter where you are, you get a "per diem" that gives you anywhere from $1-$3 per hour that you're away from base. So you leave today at noon and get back tomorrow at noon, you'll get 24 hours of your per diem pay.