Having worked with Abeam consultants before on several SAP projects, that is indeed the pay and they don't care what your last drawn salary is because they can charge the client even more. The only clause is that you will be on contract employment.

It is not about years of experience these days, it is about skillset. Most of the time the ones at that high rates are usually the experts in the modules within SAP, e.g. FICO, PM, WM, SD, etc..etc.. They need to know not only the ins and outs of SAP but also know how to translate the client's request into actual changes. This means knowing the client's industry and business as well as knowing how a certain industry perform a certain process and task.