N2O
Good post, however........... in an Australian context let us consider!
There will never be a pilot shortage in Australia because of GA and a relatively large military aviation.
In terms of preserving QF conditions of service, we haven't even begun to consider expatriate Australian pilots who want to repatriate in the upcoming years.There would conservatively be 5000 plus, highly qualified and who could meet any spike in demand for Australian pilots at home ( look at 89 or the
VB set up ). At the very least, financially, they would have a house paid off in Oz, but most I know are worth between 2 and 80 million AUD.
J* pay, tax breaks ( whether self-induced whilst abroad or government reform ) and a semblance of a lifestyle would bring home enough to start a QF size airline a few times over.
Don't kid yourselves. Relying on demographics or inapplicable ( to Australia ) market forces isn't going to save Australian pilots from deteriorating pay!