404 Titan
This may be only one side of the equation, but when compared to other professional salaries it appears to be a reasonably balanced equation!
Obviously the cost of living is higher than one might like, but that does not negate the fact that the starting salary (and if you look at other professions in the link you will notice that to reach this salary takes some years) is competitive.
I am not arguing for a second that the cadet programme is the deal of the century, but it is better than having no job. That is a fact.