You're going to have to tell us more about your situation - where are you, what sort of company is it, and what is your general experience in software?
I'm not the OP, but I have had some experience with this when looking for my last job. I made the mistake of posting my resume on a popular tech job site, and the vast majority of contacts were from shady recruiters trying to get me to work 2 hours away in a "contract to hire" position where I would have to pay my own insurance. Making less than I was currently making, still employed at the time.
Perhaps this is similar to the OP. It was a complete ripoff - I think they were trying to take advantage of the massive layoffs going on in the tech industry in my area. The arrogance of these guys was unbelievable.