Totally understand where you are coming from Capt. However, from someone who is coming in to the company this year and not had the contract, leave and everything else pulled from under their feet, it is among the best starting pay you can hope for. T&Cs are not what they were, that is for sure.
I am very lucky. I have found a job with good pay and conditions near my home. Can't imagine there are too many low cost companies paying around 120K euros for a starting DEC.
I hope that the job remains enjoyable enough for you to stay Capt.