Things I learned from Hacker News: both high and low salaries are all the fault of dastardly "unions".

(Actually, the regional carriers that employ newbie pilots are non-unionized.)

Not just the unions. "Regulations" are at fault too. They're unnecessary and expensive. The number of airliners that fall out of the sky per year due to faulty design/construction/maintenance or due to under-trained/overworked/unfit pilots is something for "The Market" to decide, not the Gubbmint!

It is? Personally, I'll take the more expensive airline ticket if it means my airline's safety standards aren't weighed against profit margins.

Unfortunately "The Market" optimizes for profit, which is almost never in my (and the consumers') best interest.

Wait. You'd pay more for safety, yet the The Market won't give it to you because it only cares about money?

I think you missed the </sarcasm>

I think you're right :|

For anyone who's interested in why this is the case, here is the classic article on this situation: http://philip.greenspun.com/flying/unions-and-airlines

Low pilot salaries are due partly to the dismal state of the airline industry and mostly due to the fact that while flying a 747 may be an immensely impressive skill it's not one that's in very wide demand.