The Qantas Group Pilot Academy FAQs state:
4. If I successfully graduate from the Academy will I be guaranteed a job at Qantas?
No. However, after graduation, students will automatically join the Qantas Group’s talent selection pool...
That seems quite different to the current Virgin scheme, where, if I'm not mistaken, cadets are paid a salary during the course, are 'guaranteed' a job if they pass, and are then bonded to the airline for a period of three years.
Have I got that right?