Lots of good thoughts. I dont think in the short run at least it will effect pay at all. It will make it somewhat harder in the short term to get hired.. and harder perhaps as time goes on.. and down the road some years it might put some pressure on wages.. but I do not believe in the short run it will do that.
Its an "Airline Transport Pilot" certificate.... every airline pilot should have one. That's my opinion.
The crunch will come in that there are fewer and fewer time building jobs out there like there were years ago... so it WILL be more difficult and that will thin the ranks some. In the end... time will tell the story.