Some pilots at 500 hours have the situational awareness, ability and confidence to not only make it through training but safely and professionally execute their duties as First Officer (up to and including commanding the aircraft if the PIC becomes incapacitated). Other pilots at 500 hours lack that ability.

We'd all probably be better pilots if we had 500 hours of night freight in a Baron or Navajo, then 1000 hours in a 1900 or Jetstream before transitioning to a small jet...but you don't have to have that background to do your job safely and do it well.

Speaking of flight time, do any allow you to count glider time toward yor totals for hiring???

99.9% of the time the zero to hero pilots are okay. Unfortunately the .1% will bite you. I've had to literally teach some of these pilots how to fly on the line. When the crap hits the fan you can no longer be single pilot or teaching some 250 hour pilot what to do. Yes, there are checklists to follow for most emergencies, but some situations are outside the checklists. Also, as a captain, I think it is best to be the non-flying pilot (NFP), during emergencies (studies back this up as well). I need a pilot in the right seat who can fly the airplane in difficult situations while I troubleshoot.
There have been several accidents and incidents already where poor training and lack of experience have been contributing factors (Pinnacle Airlines crash comes to mind).
In the two emergencis I have had I have been fortunate to be flying with FOs who had a solid background and could handle the airplane while I coordinated things (both had been CFIs and 135 pilots). In one case the FO was doing such a good job flying that I let him land it rather than taking the controls at the last minute (smoke in the cockpit). In the other case I exercised PIC authority and took the controls while being vectored for the ILS after all the checklists had been run, weather checked at possible airports, coordinate with ATC, etc- single engine, night approach to minimums, in a snow storm, braking action fair.

I disagree.. This is a matter of economics and supply and demand. The only people I see supporting the 500 hour FO program are guys with ... low hours. A few higher time guys have added positive remarks, but I would guess that they are high time FOs who've never had to keep an eye on a low time co-pilot. Most are in the cockpit at 500 hours because they just don't want to pay for a higher time guy/girl. I know there are some really sharp lower time pilots out there, so I apologize for the generalization.

I couldn't have put that better myself.

The low time pilot can handle flying a jet every day just fine. They're proving it everywhere you look. But I have to agree with others that when the sh!t hits the fan, thats where the lack of experience will show.

In 500 hours of GA time how many emergencies did you have? Or how many times did an emergency nearly happen that your prior experience allowed you to avoid? Wouldn't anyone be better off with more experience than less?

Today's RJ captains, by and large, have thousands of hour in type, and years of 121 experience. They also, by and large, have CFI backgrounds. Its the ideal situation to maintain a safe, and cheap, environment. In a couple years when today's 500 hour Multi-Commercial FO upgrades to CA and has a brand spankin' new 250 hour fresh off IOE newbie pullling gear for him, that's when safety will really be compromised.

Ideal for the newbie perhaps. I didn't find it ideal from the left seat. Maybe if I got instructor override pay while flying I'd have appreciated it a little more...

Most upper management doesn't have the foggiest idea what it takes to fly the airplanes that make their money. They prove it by the way they treat the crewmembers, maintenance guys and flight attendants. They'll do whatever it takes to get the flight in the air, then blame the problems on the crew. There are exceptions, but they're few and far between, and I haven't heard of any lately.

You obviously have not heard about FITS. Check it out. Just go to the FAA website and do a search for FITS. You will get all kinds of information on it. It still hasn't quite caught on yet because in this industry it is very difficult to institute a change. We have been training pilots with a maneuver based system of training since the dawn of powered flight. Now there is a trend starting with major flight training institutions such as UND and ERAU to train pilots using a scenario based system of training. Do some homework on it. It is a much better way to train pilots.

Absolutely right... I meant that the current situation keeps Safety at an acceptable level, and for management keeps our wages low.:(