Non National European airlines do not pay E120,000 net a year. With a taxation rate of 40% a captain that fly's a full schedule is lucky to take home E6,000 a month. And that's a grueling 900 hour a year schedule.
I'm part time and I take home around €10k a month (plus around €12k net bonus once a year). That doesn't take into account a bonus based on company performance, free shares etc. (which I haven't included as they're not guaranteed).