The other point to consider is that this apllies to low hours pilots. It is likely you will need to stay for sometime anyway in order togain enough experience to move on. The other option is for easyjet to recruit only high time pilots.
Its not great but given what many other airlines in the world do (including Ryanair their competitors) it isn't really that bad is it?
Of course you can keep pushing around in your shorts for a couple more years and then apply directly. Which leaves you better off?
Worriedwife: Just so you know the money is not that great!
Good luck to all.