Reading between the lines. QR have no use for S/O s unlike Cathay. Therefore my assumption would be that they will get you into the right seat as soon as possible where you can be productive.
The salary as an FO seems on the face of it pretty good considering your experience. You are effectivly paying for your own training over 5 years but in return you get hours and experience and a resonable salary.
My memory is not that bad that I cannot remember being in your position. If I were you I would go for it if you are young enough. Spend all your free money have lots of fun with some of the most gorgeous hosties flying and after 5 yrs FO leave and get a proper job.
Good luck!!
Oddie..no probs with the Canadian Licence