Another part of the mix
The whole hours and experience thing I think is only part of the equasion. Don't get me wrong, I think it's a very big part.
But another aspect of salaries not being what they should is the bidding wars going on once a contract is issued. I can't speak for the big guns but certainly in the small rotary market to get a contract the bid is as lean as it can be and the only way to shave some money off is in wages. The operators can't control the price of fuel, maintenance, insurance etc but pilot wages - sure. Especially when some eager beaver is sitting willing to fly for less than the last guy.
In the fluffy world of what is good and just, low hour pilots would get paid the award and salaries increases and increments v hours & experience would push the system up from there. It would then be steak once a week and not jam sandwiches.
I love flying and I have worked for far less than the award. I'm not saying salary is irrelevant but it would be nice to see some return for the money invested so far.
PS mayonnaise sandwiches aren't bad either!