Grad schemes are structured training programmes for recent graduates to gain experience in larger organisations. They last between one and two years, and are available in numerous industries, ranging from finance, to marketing, HR, and management and law.
Applications for grad schemes usually open between September and October for intake the following year. Grad schemes are designed to give you hands-on experience and a chance to develop a deeper understanding of your chosen profession. Some grad schemes will focus on a particular role, whilst others will be split into different placements, working across a variety of business roles, teams and potentially locations.
However, there are some cons to grad schemes. They are very competitive and largely oversubscribed, with limited places. Alongside a gruelling application process, in which you’ll have to be successful through multiple stages, including psychometric testing, phone or Skype interviews, group assessment days and an individual interview. Grad schemes can have a very corporate environment and can involve long working hours.
On the other hand, while careers may not be all about money, those on graduate schemes enjoy an average annual salary of £27,000. They also offer amazing training and development opportunities in a relatively short space of time