I don't know what standards are applied here, but 4'750 gross per month (once checked out) is a pretty decent salary in France...
For reference, full-time salaries in France go as low as 1'400 Euros, with a municipal employee starting at 1'800 Euros (a cop, for example), a truck driver making it to 2'300 Euros...
My neighbor in France is the general manager of a large supermarket, he supervises about 70 employees, and gets 4'100 Euros monthly...
Starting salary for a first officer at Volotea is also 1'400Euros + 50E per duty day....
FSI may not attract the best and most experienced anymore, but there is no shortage of older pilots with no chance of a class 1 medical who are more than happy to take the deal.