I would say that pay rate is correct. Bear in mind that 9K pilots get paid by the duty hour, not just flight hour. The other bad news is that I have been told that most lines in the Northeast are only 35 hour min.
Usually new hire FO's are hired closer to the 1200 hr mark so they can then be trained to fly 135 freight and get some PIC time. Company will then train you for your ATP ride.