Why are US Regional Airline starting wages so low? With 2,000hrs of flight time, a commercial ticket for ASEL and AMEL, CFI, CFII, MEI, and a Master's in Aeronautical Science I could easily qualify to fly right seat for a regional airline, but I just can't compete with pilots willing to work for \$17k/yr. For comparison, federal minimum wage is currently just over $15K/yr.

Why are the starting salaries at US Regional Airlines so low?
It seems odd that pilots go through extensive training which takes a great deal of time and expense, but they have to be prepared to work for what is a very low salary compared to other jobs that require a high level of skill and education.

Supply and demand is one explanation, but I really don't understand how there is so much competition for flying jobs but at the same time there is a supposed "pilot shortage".
Are there really so many pilots out there that the competition for jobs drives down starting salaries so low?

I am hoping to understand why it is that well-qualified pilots appear to have so little earning power in the marketplace.
Well, the short version is: The airlines pay what they have to pay in a free market.  They can get away with it because pilots are willing to accept it.  Like any other business they are in it to make money and keeping costs down is just as good as making extra money, so they aren't going to volunteer anything extra.

Now, why do pilots do it?  Because of the promise of better things down the road.  It isn't as good as it used to be, but after being at the airlines for a few years, you can make a livable wage and as you get further into your career at a major airline, you still get paid pretty well for a "part time" job.  As I've heard other pilots say before:  It's better than a "real" job!

Other pilots do it just because they love it and can't imagine doing anything else!