Standard of living? Most of the guys on the UFC roster can make more money managing a mcdonalds.... Their pay is low, they have a ton of costs (camp, travel, trainers, equipment etc), get injured frequently (and we don't know how much the UFC covers with its health insurance) and they risk permanent injury and/or brain damage.
The risk/reward is there for guys like Conor who can make millions in a few years, but for most of the guys fighting, 8k/8k and fighting 3 times a year on average doesn't translate into much.
Plus you lose a couple of fights and likely you get cut.