What are graduate schemes and jobs?

There are so many opportunities available to you after university. But knowing which one’s right for you is tough.

A graduate scheme is one of your options, but what is a grad scheme? And what is a graduate job? And how are they different?

Here we’ll explain everything you need to know, why you should consider these opportunities and how to get a graduate job or scheme (if you want one).

We’ll run through these graduate-specific roles in more detail, breaking down:

• What to expect from a graduate role
• What is a graduate scheme?
• What is a graduate job?
• The difference between graduate jobs and grad schemes
• The benefits of graduate schemes
• The benefits of graduate jobs
• Are graduate jobs and schemes paid?
• The best graduate jobs and schemes in the UK
• When to apply
• How to apply
• Who is eligible for a grad scheme?
• Who is eligible for a grad job?
• Is it hard to get onto a graduate scheme?
• Is it hard to get a graduate job?
• How long it takes to get onto a graduate scheme
• How long it takes to get a job
• How long schemes last
• How long graduates stay in their first role
• Graduate jobs vs graduate schemes

Choosing a graduate-specific role (whether it’s a job or a scheme) has its benefits.

Firstly, graduate roles are a stable form of employment with a regular income.

Some graduate opportunities also offer bonuses for meeting targets – a great way of earning more money. You’ll typically get bonuses in the finance and sales sectors, but you’ll also see them in other industries which have targets. Additionally, graduate jobs and schemes give you security with permanent or long-term contracts.

Each graduate role will vary, with each role offering different:

• Amounts of training
• Starting salaries (and potential pay rises)
• Skills and growth opportunities
• Potential for networking

These elements will vary based on sector, role type and location. Find this information out during the application process and you’ll know if the role matches your expectations.

Some factors will also change depending on whether the role is a graduate job or a grad scheme, so we’ll dig deeper into what they are and their differences.

A graduate scheme is a job that mixes training with hands-on experience and is only open to those with a degree.

In lots of ways, a grad scheme is a normal job. You get a salary and employee benefits. But unlike a graduate job, grad schemes offer structured training programmes. Because of this, they’re mostly offered by large companies.

These schemes are not permanent employment. Instead, they’re usually a one- to a three-year fixed-term contract. But there’s often the chance to stay at the company if you perform well.

Graduate schemes also often involve rotation, letting you try out different career paths. The variety differs from a graduate role where you’re hired to do a specific job.

Grad schemes are available across a range of sectors. Depending on the size of the company, you’ll likely be part of a larger group. Smaller schemes only take on one or two grads, but some of the largest schemes have over 500 graduates each year!

Graduate jobs are typically full-time, permanent roles that you get after completing your studies.

A graduate job is different to a graduate scheme. How? Unlike grad schemes, work experience or internships, graduate jobs typically don’t have a defined end date where you’re expected to leave and find other means of employment. So, with a grad job, your contract only ends when either you or the company decides. Grad jobs also usually involve less training than schemes, so you’ll be learning on the job rather than receiving structured support.

Grad jobs exist in most industries and sectors. Want to see your available options? Explore our graduate jobs and schemes.

Graduate jobs and schemes are both great ways to get started in the working world, but they’re not the same.

Graduate jobs are roles that require a degree and last for an indefinite time frame. Great if you know what you want to do and value security.

While graduate schemes also require a degree, they involve structured training periods. Sometimes, they give you the chance to do different roles in multiple areas during your time there, usually between one and three years. Because of this, you’re able to learn a lot.

Grad schemes tend to offer a higher salary than graduate jobs or entry-level roles as they usually increase in salary each year.

To help you work out which route to go down, we’ll keep drilling down into grad jobs and schemes and their differences.

Graduate schemes have lots of benefits, including:

• Introduction to a professional environment
• Professional development
• Networking opportunities
• Competitive salary
• Job security with the company for a certain amount of time
• Potential to stay with a job after the scheme
• Company perks and benefits

Grad schemes help you build skills quickly as you’re given real responsibilities while receiving training.

Many schemes will rotate you around projects or different areas of the business so that you’ll gain a wide range of experiences. This variety is great for finding out what interests you and where you’d like to develop your career.

Graduate schemes’ tailored training programmes go beyond job-specific training to help you excel at your day-to-day role. You’re also likely to receive training on management and leadership skills – getting you ready for your future. In some sectors, you’ll earn professional qualifications as part of your training.

Another good thing about grad schemes is that they give you increased exposure to senior stakeholders. Your new employer will usually assign you a senior mentor. Working closely with senior colleagues is invaluable when it comes to developing your career. You’ll pick up tips and advice when you face challenges in your day-to-day work.

The biggest benefit of grad schemes is that, usually, your career progression will be more rapid than if you weren’t on a grad scheme.

Graduate jobs offer a lot of the same career benefits as grad schemes, such as:

• Being eased into working in a professional environment
• Career development
• Networking opportunities
• Company perks and benefits

A major benefit of a grad job against a scheme is that a job offers more long-term security. With a scheme, you’re on a fixed-term contract that sometimes ends after a year.

Yes, graduate jobs and schemes are paid opportunities.

Employers will pay you a salary that you earn every month. You’ll usually get paid on the same day on a monthly basis (eg. the last Friday of each month). Over a year, these payments will add up to your annual salary (ie. the amount that’s advertised when you apply for a role). If you’re applying for a part-time role, be careful here. “Pro rata” salary figures tell you what you’d earn if you worked full-time.

Some employers pay their staff every two weeks, so be sure you know when and how you’ll receive your payment before starting the job.

Unsure what level of pay to expect? If it helps, the Higher Education Statistics Agency reported that the £27,000-£29,999 salary band is the one with the biggest proportion of graduates in full-time paid UK employment.

Remember though, what you earn will depend on your sector, the organisation and the business area you work in. For example, jobs in London and South East England tend to offer higher salaries than those in other parts of the UK.

For more information on the average graduate salary for any job or sector in the UK, check our salary calculator tool.

Sometimes grad schemes offer particularly attractive salaries. But, again, it depends on the role.

There isn’t much research on the differences between ‘schemes’ and ‘jobs’ but Glassdoor’s analysis puts the average grad scheme salary at £34,700.

Depending on the structure of your chosen company, you sometimes already know your salary will increase at the end of the scheme or after a certain time. In some cases, there’ll be one salary for the first year of the scheme which will then increase in your second and third year. In these instances, you’ll sometimes accept a lower salary while training as you already know you’ll earn more soon.

All industries offer grad jobs and most also offer schemes.

We’ve compiled a list of sectors and their roles for those leaving uni.

Consulting grad jobs are common as there are few sectors where consultants aren’t required. View graduate consulting jobs and schemes.

Employers in this sector are looking for graduates with strong attention to detail who enjoy working in a fast-paced environment. Sound like you? Look at the available roles in the consumer, FMCG and retail sectors.

Engineering is a common choice for graduates with great technical skills. Browse opportunities in engineering, energy and infrastructure.

Finance roles are perfect for individuals with good maths abilities. Has this sparked your interest? Explore current financial services graduate jobs and schemes available right now.

If you’ve got a keen eye for detail and thrive under pressure, consider a career in investment banking and asset management. Browse available investment banking graduate jobs and schemes and asset management opportunities to take your first step towards a career in this sector.

Law grad roles generally work slightly differently from the other sectors. A training contract is a traditional way that law graduates become qualified lawyers. Explore graduate law jobs.

Jobs in these areas are great for those who love working with people. If this appeals to you, take a look at HR and recruitment graduate roles or management and business jobs.

Employers in marketing are looking for creative and empathetic graduates. Explore the current graduate jobs and schemes in marketing, PR and media.

Passionate about science? Many roles in this sector require higher level academic qualifications, such as a PhD. See what science and pharmaceuticals opportunities are available.

There are grad roles across three sub-sectors:

• Public sector and government
• Education and teaching
• Charity and social enterprise

If any of these appeal to you, view graduate jobs and schemes in the public sector and charity.

Sales jobs suit competitive, results-driven graduates. Skills such as time management, commercial awareness, marketing and communication are essential. View graduate jobs and schemes in sales and commercial.

The technology sector is ever-changing, making it an exciting area to work in. View available technology graduate jobs and schemes.

Traditional graduate jobs and schemes start in the September after you graduate from university, so most applications open throughout the final year of uni. Grad schemes typically have the longest recruitment processes, so keep an eye out for these first.

Large firms open applications between September and November, while smaller companies' application windows are closer to the summer, in May and June.

Some employers fill graduate roles on a rolling basis. Don’t be fooled by those without set deadlines. While many will say that they’re ‘ongoing’, it’s better to submit your application as soon as possible. That way, if the employers fill all their vacancies early, you won’t miss out.

Start thinking about grad roles in the summer before your final year. Consider what sector you’re interested in and what kind of organisation you’d like to work for.

Stay up to date with the key graduate schemes' dates and deadlines.

As grad roles are highly competitive, it’s essential to submit the strongest application possible.

Preparing a great graduate CV and cover letter will help you stand out. Unsure where to start? Learn how to write a cover letter and read our tips on how to create a CV.

After the initial application, there’ll be an interview (or a series of interviews) at some point. Need some help here? Practise answering the most common interview questions for graduates.

Many graduate roles – particularly grad schemes – require other stages too, such as psychometric testing. It’s not uncommon to submit a video interview, attend an assessment centre and have a face-to-face interview. So, expect lengthy applications and hiring processes. It’ll all be worth it once you land your dream role.

The only requirement that’s the same for all grad schemes is that you’re a graduate.

Other requirements will vary. For example, many graduate schemes require a 2:1 in your degree or that you’ve graduated in the last two years. Despite this, many companies are willing to hire people without a 2:1. Some businesses have even got rid of required grades entirely.

Some graduate schemes also request specific degrees. This is mainly for science or engineering graduate schemes.

Again, the only certain thing is that the employer expects candidates to have a degree.

Sometimes, employers are more willing to be flexible with their requirements for jobs rather than schemes. With a job, hiring managers are looking for the best person to do the role. Whereas with a scheme, you’re joining a cohort who all need to meet certain standards.

Grad schemes are competitive. Sometimes, there are sometimes hundreds of applicants per role. Grad schemes also have rigid application processes. So, if the scheme requires a 2:1 and receives hundreds of applications that meet the criteria, it’s unlikely that the employer will talk to anyone who doesn’t have this qualification.

Some of the most desirable graduate schemes attract as many as 650 applicants per role. It’s intimidating but there are many ways of putting yourself ahead of the competition.

For example, participating in work experience through internships (including virtual internship programmes) and industrial placements will help you develop your soft and technical skills.

While graduate jobs don’t always receive as many applications as schemes, they’re still competitive. After all, there are almost 3 million students in the UK – and they want jobs once they finish their studies.

On average, 80 applicants apply for every graduate job vacancy. So, yes, it’s still competitive but you’re capable. You’ve got as much chance as the other 79 candidates.

It’s unlikely you’ll get the first role you apply for. But there are always more jobs becoming available. If you’re struggling to get a job, consider developing your experience and skills for the first year after you graduate and applying for grad roles the year after.

As well as a degree, employers are looking for soft skills and experience. Sometimes, you’ll need more time to gain all the qualities employers are looking for. And that’s OK. Some people work in one role after graduation and then take on the ‘graduate’ role later.

Check out our top tips to get a job.

As most grad schemes hire on a seasonal basis, there’s a set period for applications. If you miss out on the application window, you’ll have to wait for the process to open the following year.

The application process usually begins at the start of September in your final year of university, with start dates for the successful candidates being the next September.

The average time it takes to secure and then start a graduate job after finishing uni is between three and 18 months, so you’re not alone if you’re not working straight away.

Part of the reason it takes this long is because the recruitment process has so many stages. The number of stages and time between each one impacts how long it takes.

In general, smaller companies have quicker hiring processes. So, if you’re looking for a more immediate start, think beyond the big names.

Graduate jobs tend to be less seasonal than schemes. While many start in September, you’ll also find entry-level roles that require a degree advertised all year round.

Graduate schemes traditionally last between one and three years, with two years being the most common. Many graduates stay at the company after the scheme is over.

Depending on the contract, you’re sometimes able to leave a grad scheme early – but not always. As training is expensive for a company to do, employers sometimes put in certain requirements in your contract. For example, sometimes you’ll have to stay for the full two or three-year training contract or face a penalty.

If you’re very unhappy, you need to consider leaving. But discuss options to improve your current role before you go. It’s also worth remembering that it’ll be almost impossible to return to your previous role if you were to leave. If you want to quit, discuss your concerns with your employer before handing in your notice.

The average time that graduates spend in their first job is 18 months.

If you’re considering leaving your graduate job, there are a few things to think about first. Be sure to read your contract in detail. Even if you’re not in an official scheme, there will sometimes be a clause in your contract about the minimum length of employment.

If you’re after a change but like the company, investigate changing your role but staying with the same employer. Speak with your manager and a member of HR to see whether it’s possible to move to another department.

When considering alternative roles, think about other factors, such as opportunities for promotion or opportunities to work abroad or in other departments. Things like those sometimes extend the period you want to stay in the role. If you do leave after a short time, remember to still frame your experience in a positive light when talking to potential future employers. Think about the skills you developed in the role and what you learnt.

But don’t fret about what happens when you leave a grad job before you’ve even started one. It’s a good idea to check your contract for any sticky clauses (like minimum commitments or lengthy notice periods) before you start, but there’s every chance you’ll love your role and won’t want to leave.

When considering a graduate scheme or job, weigh up the factors that are important to you. What’s right for you won’t necessarily be right for someone else.

Attend events to speak with employers to find out which paths will suit you. Taking a look at our article on how to decide what job you want will help you too.

Remember to think beyond job versus scheme. For example, what sector do you want to work in? Or what role do you want? These factors are probably more important than the employment type. So, if you’ve always imagined doing a scheme with training but are finding it hard to come by in your dream industry, keep your mind open to entry-level jobs instead.

Grad schemes will suit you if:

• You want to work in a certain company but are unsure of the exact role
• The idea of varied training excites you
• You want to explore different areas of a business

A grad job is likely the right choice if:

• You feel confident in the skills you learned during your studies or other part-time work or internships
• You’re going into a career related to your studies or existing work experience
• You’re set on a job you want to go into at this stage

• Graduate jobs are normal roles aimed only at graduates
• Grad schemes are fixed-term contracts that help graduates gain experience in different areas and develop their work experience
• Graduate jobs and schemes differ from role to role
• It’s important to check the role in detail to make sure it’s what you’d like to apply for and tailor your application as much as possible

Graduate schemes and jobs are tried and tested ways to boost your career prospects post-uni. They’re competitive and the hiring process is often lengthy, but they’re worth it.

If you’re interested in a grad role, prepare well, immerse yourself in the business and submit your application with plenty of time and you’ll boost your chances of success. Good luck!

Not quite ready for a graduate role? Explore other opportunities such as internships, industrial placements and work experience.