Interesting stuff, thanks for the replies. As always, experience will be key. When you graduate with an MEng, the only options available are 'grad schemes' with the major companies, or some entry level roles with smaller contractors. With experience, the jobs really open up and engineers are in demand worldwide.
Another career I quite like the sound of is ground instructing (ATPL theory type stuff). Presumably an engineering degree would help here, although I guess they want ATPL holders first and foremost?