It is not as bad as it seemed. I myself am working in ST Aero and I must say, I enjoy the work. Pay can never be satisfied as greed is human's nature. But be prepared to work hard and the money and overtime is yours to take.
About being white collared engineer down to simple technician, to progress, you really need brains and IQ. Any bangala can be more hardworking than you labour wise.....so think about it. To shine and outshine, it is more than just manuals, AMM and the routines.