I think that we have seen quite a few adjustments to starting pay in order to attract pilots. It has been 20k or less for decades. Now it is 50-70k. I would say that the market is reacting. As attrition and growth increase over the next few years it will be interesting to see if further action is needed and what that might entail. I don't think that most of the legacies want to commit to long contracts for higher wages because they know that we are only a terrorist attack, recession, a run on oil, or increase in retirement away from having too many pilots again. Also keep in mind that you can get all your ratings and hours in just a couple years. The word is out now that starting pay is going up and that major's pay is close to a Doctor or Lawyer salary. With this in mind I can see (and already have) a fresh wave of young, eager, and driven pilots that are looking at the big picture. Their attitudes will land them the big paying jobs over the bitter crusty "skilled" pilots.