Notagain, you are clearly angry about this - and if it is true then you have every right to be. It sounds outrageous on the face of it; especially if your ERC are supposed to be acting in your best interests... whatever happened to transparency!
The point you raise about FOs salary rings home with me. I am only a lowly PPL(H) holder; but the thought of flying for a living (fixed or rotary) always crosses my mind.
However, thankfully i have a good job in Manufacturing IT (paid for the PPL at least!); and even if I was fortunate to land an FO job with a airline I don't think the salaries on offer until you reach command are enough for me to live on.
Before everybody starts shouting me down, other than the helicoptering I don't live an outrageous life style - I drive a Ford Focus, live in a mortgaged 2 bed terraced in Coventry, and have a 1 month old baby boy.
Setting aside the valid CRM issues you raise, you would have thought that both the airlines and those with a command would realise that if anything you need a decent salary more when you are FO (and by implication relatively fresh faced) - you are normally younger and so trying to set up home; and you have the crippling debt of your training to repay....
... its such a shame. Anyway, I must get back to dreaming up ways to get rid of my mortgage... but all the very best in negotiating a much fairer pay settlement.