The odds of anyone getting into this industry now and making over $200K at a major are slim to none -- our young student needs to know that. When you get there, you will never make the kind of money your dad makes as an airline pilot right now. That's the sad reality. The industry, and the pay, will never be what it was, and it's still on its way downhill.
If you're getting into this for the love of flying, have at it; it's the only thing that keeps most of us in it through all the BS in this business. If you're getting into this for the money, re-think it. Odds are you won't see six figures for over a decade, and having ERAU on your degree will not change that.