It's not $175k. That includes housing allowance (for use in Addis), per diem, etc. The actual base pay is much less.
A number of pilots at my current employer have left, for Ethiopian. Essentially, I have received the same info, you mentioned. No one want to say how much they are making currently ( for base pay). Ethiopian is supposedly paying salary during training - not for sure. Also, they give you a residency card - if you are paying US taxes, this allows you to defer taxes on the first $97,000 (approx).
The one captain started on the B777 and was recently x-trained on the B787. Another pilot, "supposedly" is being hired directly into the 787.
Housing allowance in the compensation, will allow you and a few other pilots to rent a house and maid service. It doesn't cover all the food costs (you don't receive per diem in Addis - only on your trips). There are many good places to eat in Addis Ababa - some western, some ethnic. But, they charge pretty close to Western prices; so, the Expat crews will bring a suitcase of food with them.