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"pay peanuts" is a correct and usable phrase in written English.
It is typically used to convey the idea of receiving very little payment or compensation for a job or task. Example: "I can't believe they expect us to work overtime for this project, they only pay us peanuts!".
Idiom
Pay peanuts.
If some is paid peanuts, their salary is very low.
Exact(18)
PAY peanuts and you get monkeys.
The fact is, if you pay peanuts you'll get monkeys.
This fact allows fashion magazines to pay peanuts, even for a cover-shoot.There remains an iron divide between "editorial" models, who appeal to the expensive designers, and "catalogue" models, who are often slightly larger and more conventionally pretty.
In a world where half maintain that if you pay peanuts you get monkeys and the other half want a fair day's pay for a fair days's work, but only for some: we family carers are invisible to both sides.
If you want to pay peanuts but don't want your bag to look cheap, go for something modestly proportioned, with a bit of structure (nothing gives the game away like baggy pleather).
If you pay peanuts... Any product-specific training comes in the form of retailer handbooks direct from the manufacturers, with over-the-top gems like: "Photography has entered a new era of spontaneity, convenience, ease and quality".
Similar(42)
They're just being paid peanuts.
I feel rather sorry for the people probably paid peanuts to make these ghastly calls.
If the public pays peanuts for virtue, it may get monkeys, not Rudy.
Dredd's artists were perfectionists, spending up to two days on a page, for which they were paid peanuts.
There was a snobbery towards the catwalk models and they got paid peanuts compared with the photographic models.
More suggestions(1)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com