This is what Oz is fighting against in a world market.
An ex student of mine is now an FO with China Southern on the 777. he's making 15,000 RMB per month. Thats $2500 AUD.
I think the days of QF salaries will draw to an end in the next decade or so. The same goes for all the legacy carriers around the world, they will gradually disapear. It's not a pretty picture, but is the reality.
Gone already, Pan Am, Sabena, Continental, Braniff, Swissair, Ansett and others long forgotten.