I looked at it and then decided I wasn't going to do the pay cut or pay for all the hour building or the ratings.
I spent the majority of my flying time last year hours building for the multi-engine instructor rating. I've now completed the ME Instructor Rating course and achieved my examiner authorization for the PPL SE and IMC/IR(R) - just my ME examiner authorization to complete.
The problem is, as Mad Jock points out, I can't do the pay cut - although I have paid for all the hour building and ratings.
The gearing of the pay structure, certainly with the professional schools, seems to be aimed at the retired airline Captain with a pension behind him or the young pilot with no commitments.
Increasingly the young pilot will be unable to achieve the necessary ratings and the shortage will become more profound - certainly if there's a sudden upturn in the market.
In my opinion, until the level of pay and benefits rises to the equivalent of at least that of a main stream jet First Officer the shortage of candidates will continue - although that in itself will not magically provide candidates with the necessary experience.
The situation at the moment seems to be one where the student airline pilot is being paid far more than his instructors. Maybe not a valid comparison, but an indication of the standard of living that can be obtained.
If you stand back from the situation it appears only reasonable that airline pilots should be taught by airline pilots and not, with all due respect, by PPL instructors who have no knowledge or real experience of the airline environment. That is the way EASA seems to be going by placing increasing emphasis on the 'airline environment' and not the GA-based training route - the MPL license, for example, is a clear indication of this.
I would love to re-locate to Spain and teach there and that is my goal. At the present moment I can't afford to do so - just ensuring I have the 'tools' in place when the time comes!