Maybe not when you consider there are a large number of VAA B777 FO's being remunerated to Captain salaries.
http://vipa.asn.au/wp-content/upload...-Agreement.pdfEXISTING FIRST OFFICERS
Clause 54.1 Virgin Australia expects that all 38 existing First Officers will obtain a command position within the Virgin Australia Group by 30 June 2016. If this does not occur, Virgin Australia will pay each of the remaining 38 First Officers at that time the applicable Captain’s rates (starting at the entry level rate). For any relevant First Officers, these payments will be
made from the first full pay period after 30 June 2016 until such time as they obtain a command.