The financially successful CFIs I've seen are the ones who've already built up an established clientele over many years and who cater to the affluent/fly-for-a-hobby crowd. That audience is willing to pay a premium for a good CFI.
Another prospect is the CFI who specializes in a particular niche (glass cockpit, tailwheel, aerobatics, etc) and positions themselves as the "local expert" on that topic for their airport.
Everyone else makes the $15-20 or so per hour (some schools in my area pay as low as $8/hr), or struggles on their own to find students. For most in this category, yes regional first year pay would be a raise.
Last edited by morerightrudder; 06-17-2011 at 03:52 PM.
Reason: Keeping the grammar police away!