History
In 1988 I was a tenured professor at a large State University. I was instructing for the University Flying Club and flying part time for the local commuter airline (A Braniff Express Commuter). I had an ATP and over 3000 hours. I was tired of the academic routine. At the time I had the opportunity to return to industry for essentially double my University salary or move to a commuter airline for peanuts. I loved flying, owned a Great Lakes 2T1A2, and would have gone aviation had there been any assurance it would provide an education for my two kids and a reasonable retirement for me. Industry could provide both, all I had to do was perform. I went back to industry, performed, and now two years into retirement I can with great assurance say that from a family standpoint I made the right choice. I really miss flying, it might have been a great career but those two litlel kids made the choice obvious.
You want good pilots? Pay them appropriately in the early years of their careers, not just in the last ten years of the career and only if they have survived assorted furlough's and other turmoil.
In retirement I work maybe ten weeks a year as a consultant and make significantly more than a new hire airline second officer does in a year. That makes very little sense to me.