Of course it is an entry level position, it should be paid as such. The fact of the matter is, the previous A380/747 SO Contract was too bloated and overpaid for the position, good on those who were on it but ultimately you should never have a contract that allows you to stay in that position forever as getting a 'promotion' may cost you money. All airlines have learned this, in BA the pay scales were re-done and FO pay scales were capped as they were in the situation that senior FO's would be turning down shortfall commands as it was a pay drop. It doesn't matter that highly experienced people apply for the job, they are doing so as things like lifestyle, location etc are overriding the conditions. Hell, during the last 18 months I worked in a post sorting office with a Check Captain, an ex Emirates A380 Captain and numerous Uni Graduates, the qualifications of the applicants don't change what the role is. In Qantas Mainline the SO position is the entry level position and $100k plus is good pay for such a position. If you were lucky enough to have been on previous gold plated contracts with Qantas, Cathay, BA etc then good for you and defend those conditions aggressively but the market has changed.