Oh come on. You can get a CFI with an MEI and rack up 1500 hours in a year or two. Even get 50-100 multi. There are still plenty of jobs out there, and they pay about what the commuters do.
The Jonathan Ornsteins of the industry did this. It used to be impossible to get a job at the carriers with less then 5000 hours. Too much, but that was the market. At least people who survived that knew what they were doing - and mostly did NOT dump a Dash 8 into the ground with 50 souls on board.
The salaries will rise when they can't fly their contracted flights. The regionals are fee for departure - the majors pay them to push people into their system. Either they meet their contracts or they go under. Eventually it will happen: they have to get the qualified people. And pay them.
So what’s the bottom line? That pay and benefits will rise to get more pilots in there if needed?
It shocks me a bit to see some of these pilots earn less than someone working in an office in a file clerk / hired help type job.
You say "remember" 5,000 hours . . . yeah I do! 1976 to 1981. Those same years required an ATP just to become an instructor. But I also remember decades of 500 hours and onto the puddle jumper. Hell I had students hired by UAL with 500 hours regularly. Of course they were of the proper gender.
I certainly do not remember racking up 750 hours per year as an instructor. Am sure many did, but was not the norm. But if you don't believe 1,500 hour rule has no affect . . . well whatever, your opinion
Besides the policies of Federal Anti Aviation administration, there has been a major change in people interested in flying. I have lived on air ports for over 40 years, and noticed that in the last 10, the planes based at my airport have dropped by over 60%. Same as instruction and flying hours. Video gaming has taken over.