I've been thinking about this and am slightly persuaded.
Jobs are highly paid primarily if the skills and knowledge to do them take years to achieve and if the natural talents needed to be good at the job are rare. If both of those are true then the popularity of the career choice doesn't come in to it - eg there are loads of people who want to be a premier league footballer but 99.99998% of them don't have the talent or skill.
The less true it is that the natural talents are rare and the skills and knowledge difficult and timeconsuming to acquire, then the more strongly the factor of popularity of the job influences the pay rate.
Now 99% of the time the skills and knowledge needed to work as air crew are not onerous or complex and we'll more than half the population could do the job. The natural talents needed for doing the job well when everything is going well are also present in more than half the population. For this reason the pay is strongly influenced by popularity and so the pay is shit. It doesn't matter that the reality is that you don't really get to see the world and will want to leave after a year on average - if the applications inbox is constantly flooded by new hopefuls it is cheaper to put another newbie through 6 weeks of training than it is to pay an existing staff member £2k more. Given all the above the current pay for air crew is about right.
The problem is that all the above is based on the 99% of the time when nothing is going wrong.
When something goes wrong, suddenly the skills and knowledge needed to keep a plane full of people on the verge of panic calm and doing the right things are rare and difficult to acquire, and the natural talents needed to do it well are rare. So the pay for that person should be much much higher.
but then, even if you say that you are doing a job with a market value of £12k for 99% of the time and a job with a market value of £65k for 1% of the time, that only translates to an overall salary of £12.5k rather than £12k