The true sponsorships don't exist any more. For more info look up CTC, Oxford (OATS) and the like. The Netjets Europe cadetship is opening again on Monday the 14th.
Cadetships are possible with easyJet, Monarch, Netjets Europe and so on.
Retirements is a furfy, age limits are increasing.
The contact lenses aren't a problem per se, however, your starting prescription might be. Check the CAA's website for the actual limits.
747s are being operated by BA and Virgin Atlantic to name a couple of British airlines. With Virgin, you'll need approx 2500 hours of medium jet (or Mil) time to get a look-in. BA, you can get in as a low houred pilot via OATS (maybe, to be confirmed) or after doing some time as a turboprop pilot or jet pilot.
Typical wage? Well, I started life in the UK as a Shorts 360 FO on £16,000 per annum. Instructors can earn more or less than this.
A Turboprop FO for an "airline" might earn about £20K where as a jet FO might earn maybe £26-28K per annum. Best check PPJN for more details.
If you hold a full ATPL the FO salary is better but that's for later.
Typical hours? Limited to 55 hours duty per week. The loco's will have you working as close to 900 "stick" hours per annum. (Actual duty will be higher). Depending on who you work for it could be all earlies one week, followed by lates the next. Or it could be a mix of the two.
The relaxed and comfy lifestyle doesn't really exist any more.