A big issue here is that the Railways have always been subsidised and there's decades of historic backup from Unions. Like it or not, the railways are a very well paid industry. TOC's do get more than NR in a lot of jobs, but when you look at my local TOC advertising for station cleaners at £20k a year, it's a clear sign that wages for other roles will likely be higher.
The Railway is a public service, as are bus services, but bus operators and associated job roles don't get big wages and heavy union backings. They are generally run by private bus companies. Airlines are private business and the race to the bottom had been happening for years, low wages for low fares. There are many safety critical roles within both of those industries that get paid a fraction of the equivalent railway roles.
By all means those in safety critical roles do deserve to be paid well, but the entitlement of some railway workers that believe they are better than other industries safety critical roles is absurd.
If the railways were totally privatised decades ago and wages weren't continually raised as they have been, would anyone have quizzed any differently? No. The Railway is a public service and should be provided as so, cheap fares and reliable service to enable people to get around. It's not cheap to run a creaking aged railway but the wage bill in this country for it must be astronomical.
It's not nice but change needs to happen, more so from the top down, TOC's and NR need to be more economical and efficient rather than continually p****ng taxpayers money up the wall. Pay safety critical roles well, as is deserved, but remove all the BS that comes with it like Union red tape, reliance on weekend overtime and jobs for the boys in Management tiers. Before anyone comes back with the argument that it's the TOC's that want the overtime, that shouldn't be an issue. It's the passenger that loses out. If more people need to be employed to properly cover the service then do it, and find cost savings elsewhere. If workers need to work a 7 day week and the overtime gets spread out, do it. Stop arguing about who does and doesn't want what and make it work for the passenger.
And for anyone that argues "railway workers won't work overtime when it's sunny", come to Wales when it's sunny or there's a big event on, try and catch a train or check the TOC's website for the number of cancellations. It happens regularly.