No one is saying that $80k is not a lot of money.
What they are saying is for an international captain for the US's largest bank flying 20+ days a months, it's pathetic. You can't live on that type of salery and be anywhere near the airport. So you will be commuting 20+ days a month, in the worst traffic on earth (outside of the 405 and the 101), just to say that you work for Citigroup. No thanks. This is FO pay in HPN, with the premis that you will get upgraded and a raise in a relativly short period.
Take a look at the list below, Purchase (avg home price $1.35 mill) and Rye ($950K) are both located right around Westchester county airport(KHPN). Now try to keep in mind that this data doesn't even mention towns like Chapaqua and Bedford (where the Clintons and Martha Stewart live) also located in Westchester county. Nor does it take into account the fact that the neighobing towns in CT, Greenwich and New Canan are just as expensive if not more to live in.
Pilots don't live close to KHPN, they typically live an hour plus away. If they are smart they live in places like Danbury CT just over an hour away, if not they live on Long Island or NJ. both require you to drive through NY city traffic and pay $7.00 ($3.50 EACH way) to get over the bridge, everytime you go to work.
Places like this never wise up. I have worked for Chief Pilots and Aviation directors like this. They justify the salery by using salery survey's. They pick and choose departments located around the US with much lower costs of living. Then they hide the Flight Safety/Training budgets under another budget category. Mgt see's the saleries as low and the departments heads get large bonuses. Down town never pays attention to the higher then normal training costs, they just assume that this is industry average.
The turnover is typically one or two a year and mgt shrugs it off as , disgruntal, didn't play nice, family reasons, better position, wanted too much money, yada yada. So don't go to places like this ever expecting to see it change, it doesn't. Believe me I made that mistake once.
If you want to take them for the Type rating then it's a different story. The problem is that they typically pick a pilot who is already typed on the aircraft. In essence you get what you pay for.
So once again, $80k is a lot of money. It's just not a lot of money in Westchester County, NY.
http://moneycentral.msn.com/content/invest/forbes/P62020.asp?NF=1