On the whole, the captain will introduce the FO in the chat. The only time this wouldn't happen is when we are in a rush to push back and there isn't much time from the last pax to get on and the cargo doors shutting, so the intro is as short as possible. If it is my sector as FO I will speak to the pax and introduce myself top of climb and top of descent.
Monarch has reduced to min cabin crew on most flights to save money now.
Monarch has no pay to fly FOs or any other schemes, the pilots are all well paid, well treated IMHO and on the same pay scale now with permanent contracts.