Just to help the picture along a little with the UK experience of LCC's
Ryanair skipper's pull in 200,000 plus Oz dollars - I've worked for them and preferred to have a life.
I worked for go and my last full tax year showed an income of 174,000 dollars and I flew 750 hours. When the company was sold the bonus was more than 140,000 dollars cash. Cost of living differences between the UK and OZ are not the point of my post - believe me, as with Southwest, we weren't and aren't suffering compared to colleagues in the 'traditional' companies.
Perhaps the real point is that it doesn't matter if a start up is low cost or premium - there are so many pilots in, or wanting to return to, Australia that managers can just wait and allow you to cut each other off at the legs.
The profitable low cost carriers in Western Europe have not got cheap labour on the flightdeck - many of them are from your neck of the woods. They may well chip in to tell you how hard they work but I don't think they'll claim to get less than other aviators.
Regards
rob