Because they can't all become Consultants. They,as Registrars will apply for jobs as Consultants, especially in the sunny south where all and sundry want to live. There will always be a candidate better qualified, so they choose between say Grimsby or Melbourne. Which would you choose.
This is wrong. Here are the published pay scales of Jnr's up to Senior Reg level.
http://bma.org.uk/support-at-work/pay-fees-allowances/pay-scales/juniors-pay-england
First year Consultants start at £55 grand might be more now I havn't looked. It then increases by approx. £10 grand a year. On...