I worked for a LCC out of LGW, then moved to Virgin. It's great flying long haul, but the money is definately crap with us!
There is obviously massive differences between the big two, VS/BA
Vs crew are generally younger, and enjoy going out and about alot more down route than at BA. Promotion is faster, 2 years to SNR, another 2 to CSS, then another 2 to FSM all depending on your performance. Our V-swap system is great, which effectively allows you to write your own roster.
Getting a permanent contract at BA world wide will be very hard. From what I've heard, the people who are getting the 11 month contract then transfer to LGW or LHR Eurofleet, afterwards, but who knows what will eventually happen.
In hindsight, I think that BA is the best option. It may not be as laid back or "fun" as Virgin, but at the end of the day, what you get up to downroute is in your hands. And the money is massively different. For example, or a Tokyo flight, Virgin get £190 in sector pay and cash allowances. Ba get something like £700 if not more. For a Sydney, we get £450, BA get £1300.
Long Haul can also be a little lonely, because you generally do not know many of your crew, and you are away from your family and friends for up to 10 days. But anyway, BA temp contract might be a great opportunity to see if long haul is really for you.
Good luck with whatever you decide