Academic pay is standardised in many EU countries. For example in the UK you can look up union rates of pay. At UCL (I'm still currently affiliated as I finish my PhD) the pay for a professor starts at £82,157 and goes up to a minimum of £139,882 for the top band. There is an additional £4,678 on top as a London allowance. This roughly lines up with your figure per year, so seems reasonable as an allocation of cost.

Also there are usually very very generous pension schemes here, so total pay is actually quite a lot higher than stated. In addition there is very generous holiday allowance, 41 days at UCL for instance, since you get extra holidays when the university is closed over certain holiday days.