Tyson,
Welcome to the forums.
You are correct, an Admissions Flight is one of the first requirements and is really the best way to see if flying airplanes is truly for you. It is one thing to ride in the back of a large jet, it is quite another to take the controls of a small airplane.
Yes, there is a FAA requirement of 1,500 hours of flight time before one can become an airline pilot. The vast majority of pilots build this time via flight instructing. The pay for such is not great, but it is livable and will get you to that magic 1,500 hour mark. It typically takes about two years to build the 1,500 hours.
Check out this link for pilot pay info: What Income Do Pilots Really Earn?
Chris