After reading this thread for the first time, my wheels started to spin. I am pro-pilot, after all I am in my late 20's and a VERY POSSIBLE career changer. I would have to agree with everyone that the pay rate that regional FO's start at is unlivable and the QOL has a left a lot to be desired.
Yes, it is a sad day when a CFI at an average flight school can make more, and in some cases, significantly more than an FO at a regional. Yes, those who pursue this career do it for a love of the profession (why else would we miss holiday's, birthdays, anniversary's, etc.). However, instead of complaining about the wages in this industry, have we ever stopped to look at the other side?
Think about this, most of the work force as a whole is down when it comes to pay (with the exeption of "specialty" careers such as Docs., Lawyers, etc. Yes, aviation is a specialty, I understand that). Most college graduates come out of school with $30,000 to $60,000 debt in student loans. Most of these individuals go into business, engineering or sales. Their salary, $35,000 to $45,000. Not bad, but not what it was a few years ago either.
Unlike the aviation profession, raises in the corporate world are now self imposed. Most cases the only way an individual gets a raise is to give one to themselves by switching companies, fields, etc. There is no annual raise, very rarely is there a cost of living adjustment or a yearly bonus.
In the case of sales, only the lucky ones have some sort of salary. Most are commission only. In a bad economy, it is not "I wish I was making this much more", "it is S*^T, I can't pay the bills!" When comparing aviation to other fields, it is not always as bad as it may seem!
Is aviation pay what it once was? Not unless you are flying for a Fortune 500 company. Will it ever go back to where it was? Probably not. Is the pay after x amount of years in the field better than most other careers? Yes!
If everyone had to fly a desk or worry about monthly numbers for a few years, the look on avaition may not be so dark. Yes, there is room for improvement in aviation, in all aspects of the field. However, the same can be said for every field!
Again, I am pro-aviation! Yes, there is room for improvement in aviation, however when comparing it to other fields, it is still pretty damn good!