Great thread, one question followed by 6 trolls spewing abuse then a decent answer. Here is the skinny on EK.
The package appears attractive from outside but Dubai is a very expensive city to live in. I joined a long time ago. At that time the allowances covered the costs of life reasonably well, since then they have all deteriorated. Working conditions have been changed and every time productivity has been increased it has not resulted in any improved remuneration. The changes are always hidden using subterfuge rather than manning up and telling the pilot group directly. Presently we are already over a month past the pay review date with no news.
Dubai though is a bigger factor, Ironbutt is spot on, don't just consider the career, consider the whole picture. Most expats feel a pull towards their family when they 'have' to leave the sandpit. From then on it can be a tedious place to live with your heart and loved ones elsewhere and insufficient options available to escape.
Bottom line: Conditions have never improved, command times have never got shorter but you will get a nice new pilot's bag on joining.