I have seen a level 3 monk in action and I have to say, this just doesn't sound accurate to me. Either your monk is Doing It Wrong, or your way of tracking effectiveness is not remotely the same as mine.The monk in my group is 3rd level and he runs out of ki fast. Without the ki his effectiveness plummets.
A level 3 monk can deal plenty of damage without using any ki at all. Are your monk's and fighter's ability scores commensurate? That might be one problem.