I am hoping to get advice to determine the career path I should take. Some history about myself: I’m 28 and I started instructing back in 2007, which has put me at about 2,800 hours. However, I only have 40 multi, which basically precludes me from interviewing at any of the quality regionals. So my dilemma is this: Do I plunk down the money to build 100 multi (~$7,000) or do try to get on at one of the lesser regionals and hope that the reward for the low pay and QOL is a quick upgrade?
I know that the decision is based on many variables unique to individual circumstances, but I’m sure there are many people who have been in a similar position, and I wanted to get a take on what their decisions and thought processes were. I understand the quality of any regional can nose-dive quickly, but it seems that joining smaller airlines is akin to going all in.
I would prefer to not go back into debt; however, is the enhanced QOL , pay, and possible stability worth it?

We'll it's not "plunking" down $7k. You should fly multi and be current in it while applying to all companies you would possibly work for. You'll find that by the time you get an interview you will have competitive m.e. time for the job you interview at. It may be next week or next year. Don't worry about applying to places you're not qualified for, just do it. Go on every interview you can land, and decide AFTER they offer you the job. You won't find many pilots applying to just one airline regardless of qualifications.

Just my opinion of "quality" regionals. If they fly jets, that's good enough. How long do you plan on working there? I'd take a quick upgrade in a jet over better F.O. payscales at a "quality" company.

Is MEI an option for you? Once you hit 3,000 hours, or 4,000 with still only 40 m.e. you will not be any closer to advancing your career to a decent airline, 135, or corporate job.

MEI is probably not an option with 40 multi. It really depends on your career goals. I dont think there is anything particularly wrong with going to an airline that requires less multi. Just do what you have to do to achieve your goal!

You don't say whether you have your ATP. I was in a similar situation years ago. I went and got a single engine ATP. With that, my test never expired, I looked that much more qualified and got a job with a dirt bag regional. One year in the Rt. seat and two in the left and I was very competitive.

I believe we are only one year away from rapid hiring by the majors. That will mean fast upgrades at the regionals. You need to be flying for one when the time comes.

Good luck.

I dont see how there will be rapid hiring at the majors with the economy the way it is.

Retirements ..... and the economy is not as bad as it was several years ago

What world are you living on? The economy is ten times worse than it was several years ago. What was unemployment back then? No where near what it is today.

Here in Seattle the economy's strong. Time will tell. There's no use in debating this again.

Actually, no. US unemployment topped out at 10.0% in October 2009. Over the last 2.5 years, it has been steadily improving, currently at 8.1%. I have to think the airline execs are sweating bullets at the thought of an improving economy, the 1500 hour rule, the mass retirement waves about to be realized, and Asian airlines poaching US pilots all hitting at the same time. It might take a few more years before it hits them, but due to supply and demand, higher salaries, and signing bonuses will soon become the norm.

Technically true however this stat is politically motivated spin.

An apples to apples comparison would look at the underemployment rate now (17%) vs 2009 (14%-17% throughout the year) or whatever year you want to use. Lots of people still out there that can't find work.

GDP growth is another excellent indicator. Taken together the provide a pretty accurate picture of no substantial improvement in the past couple years which according to economytrack.org (where I got my #'s) show no improvement in employment and slight growth in the gdp.

As far as the assumption that all these retirements will result in a 1 for 1 pilot job, I dissagree.

Take a look at the big picture and you'll see lots of consolidation in the airline industry with all the mergers going on. Mergers create effeciencies that reduce the need for manpower. As the price of fuel goes up the requirement for larger more efficient aircraft will increase, however without any substantial capacity growth the total # of a/c and pilots will be reduced as the smaller rj's get parked.

One last tidbit of info that doesn't bode well for pilot hiring is take a look over on the Delta thread how the company is attempting to increase utilization of their reserve pilots in the new contract talks. Read between the lines and you'll see Delta is attempting to mitigate the upcomming retirements by reducing the need for staffing. Other company's will follow suit in short order.