We are in difficult times and the turmoil of poorer terms and conditions are being felt higher up the food chain. It is not the younger and newer members to the industry that are lowering the lowest common denominator. I recently applied for a contract job (I am a Capt) and the rug has nearly been pulled from under my feet and those of my fellow applicants due to a group of Pilots from Eastern Europe who have offered to work for far less money. However when you take into account their living expenses - my relatively modest mortgage in the UK probably is astronomical in comparison so they probably don't need the salary that I would expect.