If this is their option, I have an alternative. Simply extend the WO program up past CW4 to CW6 or CW7. This would address both issues. First, the monetary problem of being maxed out in pay at the equiv of a Major, but extending the non-careerist pilot up into the similar pay grade as full Col, or BG. Second for those who truly do want the management career, it will open up more slots for them to work into commander positions.
I had a crew chief back in the day who was in his 30s and was a Spec-7. He got promoted to Spec-8 while I was with him, and was hoping for Spec-9 before retirement. Not the exact same thing, but from a pilot side, works for me.