I suppose your point of view on pay depends on whether or not you plan to make a career out of instructing. I agree that the money in the UK is cak, but to be honest, after seven months instructing, I sometimes still can't believe I get paid to go flying at all!
I do intend to get my IR, 700 hrs, and then off. The money will then start to come in, and so I consider instructing as an 'apprenticeship' to jet/turboprop flying.
Let's face it, we didn't get into this game for the money anyway. There's the old chestnut of 'more instructor pay=higher flying club dual rate=less punters=less flying'. How, then, do we as instructors collectively increase salaries paid as a whole? There is only one solution, Comrades! We must strike!
ST.