What is a Graduate Scheme?

Written by Luke Kitchen
developingastudent

Graduating from university is an exciting time, filled with opportunity and promise. As you start out on the initial stage of your professional journey, the chances are you’ve come across the term “graduates scheme”. But what is a graduate scheme? And how can it benefit you as a recent graduate new to the job market?

Our comprehensive guide will cover everything you need to know about graduate schemes, including what they are, the benefits of these schemes for recent graduates, who is eligible, and how to apply for them. Let’s dive right in!

Understanding Graduate Schemes

Graduate schemes are structured training programs designed for recent graduates to gain industry-specific skills and experience. They typically last between 6 and 24 months and offer rotational placements, mentorship, and professional development opportunities. Graduate schemes can be industry-specific, offered by well-known companies like Barclays or Asda, or even government-sponsored programmes.

One of the main advantages of participating in a graduate scheme is the accelerated career progression it can offer, as well as the chance to build a strong foundation for your future career.

Let’s take a closer look at the benefits of graduate schemes.

Why Choose a Graduate Scheme

We’ll now run through some of the greatest benefits of graduate schemes and why you might want to apply for one:

Job Security

Perhaps the most obvious one is that it can provide an opportunity to work in your chosen field of employment. Most graduate schemes come with the assurance of a fixed-term contract or a permanent job offer upon successful completion. They can be the best way to get your foot in the door in highly competitive industries, such as law or finance.

Training and Development

By definition, graduate schemes are structured training and development programmes, meaning you’ll gain the skills and experience you need to start your career.  This can include on-the-job training, mentoring, and professional certifications, which can significantly boost your career prospects and enhance your employability.

Professional Support and Mentorship

You’ll have access to and work alongside experienced professionals who can serve as mentors, offering guidance throughout your career journey. This can be invaluable in helping you navigate the early stages of your career and make informed decisions about your professional development.

Networking Opportunities

The networking opportunities available through these programmes are also invaluable. You’ll not only have the chance to build a strong professional network with other graduates, but you’ll also meet industry professionals from within your organisation and externally.

→ See more Networking Tips for Graduates

Employee Benefits

Graduate schemes also often come with good benefits packages, including things like healthcare and pension options. This means that you will have access to a wide range of perks in your job role.

Fast-track Career Progression

With rotational placements and exposure to different departments or projects, graduate schemes provide you with the opportunity to demonstrate your well-rounded skills directly to a prospective employer. This gives you the opportunity to accelerate your career progression, allowing you to move up the career ladder more quickly.

Who Is Eligible To Apply For A Graduate Scheme?

There are a number of prerequisites for anyone considering applying for a graduate scheme. If you’re wondering if you’re eligible to apply for a graduate scheme, the most common requirements are:

  • Right to Work: Applicants must be over 18 and have the right to work in the UK.
  • Field of Study: Graduate schemes are usually industry-specific, so you’ll need to have a degree or qualification in a relevant industry. For example, a graduate scheme in finance may require applicants to have a degree in finance or a relevant field like economics or accounting.
  • Degree Classification: Most graduate schemes will require applicants to have achieved a minimum degree classification, such as a 2:1 or above in a relevant field of study.
  • Work Experience: Although graduate schemes are designed for recent graduates, some companies may require some relevant work experience. This could be through internships, part-time jobs or summer jobs.
  • Skills and Competencies: Graduate schemes often look for applicants with certain soft skills, such as communication skills, leadership potential, teamwork, and other relevant competencies.

How To Apply For A Graduate Scheme

Applying for a graduate scheme can vary from company to company. However, most schemes advertise their graduate schemes on their website or on trusted job boards. You’ll typically be required to submit a CV and cover letter. Be sure to tailor each of these to highlight the qualifications and skills you possess that match the requirements of the specific graduate scheme. There are various stages to the application process, including interviews and assessment centres.

→ For a detailed guide on the application process, visit our dedicated page on How to Apply for Graduate Schemes.

Key Takeaways

In conclusion, graduate schemes are a great way to start your career. By understanding what graduate schemes are, the benefits they hold, and how to apply for them, you can make informed decisions and take advantage of the wealth of opportunities available to you. We encourage you to do your own research and explore the graduate schemes on offer in the industries that interest you most.

When you’re ready to begin the application process, head over to the Developing a Student jobs board. If you find a graduate scheme that fits what you’re looking for, simply fill out the application form and prepare for the interview process! Of course, our expert guide on How to Nail Your First Graduate Job Interview is a must-read.

If you have any questions, please feel free to contact our team. And don’t forget to sign up for our newsletter below for all the latest graduate schemes and opportunities from Developing a Student.

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Last Updated: Wednesday May 17 2023
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