A guide to graduate schemes in 2023
If you’re nearing the end of your degree, you’ll probably be familiar with the dread of applying for a graduate scheme. But graduate scheme applications aren’t as daunting as they first seem.
In this ultimate guide, we’ll cover everything you need to know before you submit your first application, and give you the best chance of success.
What is a graduate scheme?
Graduate schemes are structured career development programs for recent university graduates. These programs are typically offered by large organisations, including corporations, government agencies, and non-profit organisations, to attract and develop new talent.
Graduate schemes are designed to help graduates transition from university to the world of work, providing them with opportunities to learn new skills, gain industry-specific knowledge, and develop their professional networks.
They typically include a mix of on-the-job training, classroom-based learning, and mentoring from experienced professionals within the company.
How does a graduate scheme differ from other roles?
Graduate schemes aren’t the only option for students, but they are one of the most popular routes into the working world.
Before you commit to a graduate programme, it’s worth understanding exactly how graduate schemes work and differ from entry-level roles.
More structured training and development
One of the key differences between graduate schemes and other entry-level roles is the level of support and development provided to graduates.
While many entry-level roles may offer some level of training or mentoring, graduate schemes are specifically designed to provide a comprehensive program of development that is tailored to the needs of each individual.
2. Potential to rotate across different roles
Many graduate schemes allow graduates to rotate across different departments and roles throughout the scheme. This means that graduates often spend a few months or a year working in different departments and gaining exposure to different specialisms.
This helps graduates to pinpoint exactly which areas they’d like to specialise in when their graduate scheme ends. This flexibility isn’t available in most entry-level roles.
3. Clear progression routes
Graduate schemes are also different from other roles in that they often provide graduates with a very clear and structured path for career progression within the company.
This is because these graduate schemes are advertised as an opportunity for grads to pivot into more senior roles and climb pre-determined career ladders.
Graduate schemes promote successful graduates into more senior roles within the same department, or allow them move into other areas of the company altogether. This is particularly attractive to graduates who are looking for a long-term career with a single employer.
4. Rigorous selection processes
Graduate schemes are highly competitive, and the selection process for them can be rigorous and time-consuming as a result.
Organisations typically receive hundreds or even thousands of applications for a limited number of positions, so graduates will need to complete various tasks including online assessments, virtual interviews and assessment centres.
5. Part of a larger group of hires
Graduates will often be part of a cohort, meaning they will be entering and completing the program alongside other graduates. This can provide a sense of community and support, as well as opportunities to network and collaborate with peers.
This is distinct from many entry-level roles where organisations hire individuals off-cycle, rather than larger groups of graduates in bulk.
How much do graduate schemes pay?
According to Glassdoor, the average graduate scheme salary in London is £32,379, and the national average salary is £30,679.
However, graduate scheme salaries can fluctuate a lot, so you can’t bank on earning upwards of £30k for every graduate scheme. Some graduate schemes will pay around £20,000 per annum, while others will offer up to £50,000.
How to get onto a graduate scheme
There’s a common misconception that simply getting a degree makes it easy to get a job. As lots of recent graduates quickly realise, this isn’t always the case.
Graduate schemes are incredibly competitive, so it’s not enough to just give an employer your CV and hope for the best.
There are, however, a few things you can do to improve your chances of landing a graduate scheme. Let’s run through these now.
Choose the right ones
The first step in getting a graduate scheme is to identify the right opportunities for you. You might have some employers in mind already, but it’s just as important, if not more, to find the right scheme for you.
A common mistake that students make when applying for a graduate scheme is to bulk-apply. In other words, they apply to as many schemes as possible, hoping that they’ll have a pick of the bunch.
As many graduates will tell you, it doesn’t quite work like that. You need to be selective in your search for a graduate scheme and find ones that align neatly with your values, skills and expectations.
2. Do comprehensive research
Before applying for a graduate scheme, it's important to research the company and the industry in which they operate.
This will give you a better understanding of what the company is looking for in their graduate scheme candidates, as well as the skills and experience that are most valuable in the industry.
Having this information will help to inform the way you approach your application, the interview, and even the communication you have with the graduate recruiters.
3. Start early and be proactive
It’s also important to start researching and applying to schemes early on. Many graduate schemes open for applications several months before the start date, so it is important to stay up to date with the latest application deadlines.
It’s also common for certain employers to hire graduates off-cycle. This essentially means that their recruitment cycle happens throughout the year, not just when the majority of graduate schemes are released.
To avoid disappointment, it’s worth being proactive in your search for the perfect graduate programme and starting your applications ahead of time.
Starting your applications early also ensures that you’re not scrambling to finish it before the deadline, allowing you time to make your application stronger and more refined.
4. Create tailored applications
It is also important to tailor your applications to the specific graduate schemes you are applying for.
This means researching the company and the role thoroughly, and making sure your application highlights your skills and experiences that are most relevant to the role.
This can be time-consuming, but it’s often far more effective than bulk-applying to lots of roles with a generic CV and cover letter.
5. Networking and building connections
Networking is another effective way to improve your position ahead of graduate scheme applications. This is true for two main reasons.
Firstly, networking gives you the opportunity to meet and build connections with individuals at certain companies, including recruiters and professionals that are already on graduate schemes. These connections and conversations will give you a better insight into what the scheme is truly like and how you can best position yourself to step into it.
But networking also serves as a great way to develop your social skills ahead of interviews and assessment centres. It gives you a chance to build your confidence speaking to and working with other people, which is a competency many employers look for in graduates.
To find out more about how to network effectively, check out these event networking tips for students in 2023.
6. Utilise free practices tests
Most graduate scheme applications will involve aptitude and psychometric tests. These are essentially games and online tests designed to filter and select applicants based on their skills and mindset.
Unfortunately, the first time many students take one of these tests is during a real application. As a result, they’re often ill-equipped to succeed in these tests, and they rarely know what the employer is actually looking for.
Luckily, there are plenty of free online tests that students can take to prepare for the real thing. We’ve linked a few of the best resources below:
Where to find graduate schemes
Career fairs
Career fairs bring together a large group of employers in one place, giving you the opportunity to ask questions and receive information about the employer and their graduate schemes in person.
These career fairs are often hosted by charities like The 93% Club or through your university.
2. University career centre
UK universities have career centres where students can book appointments to discuss opportunities and receive guidance on all things employment-related.
Often, these teams will provide constructive feedback on your applications and even recommend great opportunities. You might even find that your university is partnered with specific employers and run insight days or internships with them.
3. Google
Google is your best friend when it comes to job-searching. Almost all graduate schemes are advertised externally, which means they can be found online.
Simply search for different employers, roles and locations to find the ones that best suit you. You’ll then be taken to job sites where all of the roles are listed, or the employer’s career page.
There are even a few Google hacks you can use to make sure you find the right opportunities, faster.
Want to improve your chances of landing a graduate scheme?
The 93% Club is a members club that puts state-educated students in front of leading employers, offering them mock-interviews, work experience, training and opportunities to network with supportive professionals.
Applying to join the club is easy, simply hit the button below and complete a short application form. It’s only 60 seconds and could give you the support you need to land your dream graduate scheme.
