actually, no...I started flying in 2001 in college, got my CFI in december of 2005.

Depending on how motivated you are, and how good the weather is where your located you can normally finish private in about 4-6 months of hard dedicated flying. You'd then do your instrument (if you are following a 141 sylabus, if not, you'd have to start building 50 hrs of x-country time) the instrument rating should take approximately 40 hrs of simulated/actual instrument time which will work out to approximately 6 months again.

Your commercial typically takes a little longer, you'll have to get those 50 hrs of x-country time to get your commercial, if you do this part 61, you'll need that 50 hrs of x-country to get your instrument also, which is why it can be done either before or after depending on the sylabus. i'd give yourself 8 months to a year on your commercial certificate. After that's all done, you can get your CFI, or go get your multi-commercial certificate (which you'll need to work for an airline), it's a quickie though, taking between a week and a month depending on where you study.

Now, starting pay for a CFI can very depending on location.

I don't make $17.50/hr, wish i did.

my university starts CFI's at $8.50 / hr and raises are given in $1.00 incriments for each of the following:

College degree
CFII
MEI
100 hrs dual given
300 hrs dual given
500 hrs dual given
700 hrs dual given
900 hrs dual given
1200 hrs dual given

after that they stop,and expect you to leave...