Midget,
you'd be living off somewhat horrible wages for 4-5 years. It's going to hurt.
You are probably not from Australia then as the wages at FTA (when I was there) are the best wages you'll earn (as an instructor) in Australia.
It's OK to say it doesn't pay very well when you are already in an airline job, but remember this is aimed at those starting out, and I think it pays well (for that level).
I also worked at an Australian Regional which was only a AUD$6000 p.a. pay rise!