Soon-to-be-graduates have several different options and opportunities including applying for graduate jobs/schemes, applying for postgraduate courses, taking time out, starting a business, travelling, getting a more “casual” job or a combination of options.  

There’s no right or wrong way forward, and each of us will have different challenges (and opportunities!) that we need to navigate. In general, though, most final year students and graduates will apply for graduate jobs and/or schemes, with schemes being the focus of this blog post.  

Graduate Schemes 

Although arguably the most well-known option, graduate scheme roles make up a small percentage of the graduate labour market – about 15%. Despite this, many finalists I speak with believe that joining a graduate scheme is the usual next step for most graduates. So where does this misconception stem from?  

Graduate schemes are usually only offered by large organisations who have large marketing and recruitment budgets and often attend careers fairs; their visibility in the graduate labour market is so noticeable that it feeds this belief. If you are interested in applying for graduate schemes, here are the key facts to know.  

What is it?  

A structured 1–3-year programme combining work with further study/workplace training in preparation for a full-time position at the company (though not always guaranteed).
Some schemes are rotational, allowing you to spend time in different areas of the business. 

When/how to apply?  

Most operate on a seasonal basis and have a set period for when they accept and review applications (August-January). It’s usually a lengthy selection process with common activities including online application forms, psychometric tests, phone/video interview, assessment centre and final interview.
You can usually apply for graduate schemes for a couple of years after you graduate. 

What do I need?  

Around 70% of graduate schemes are degree agnostic, meaning that they will recruit from any degree background focusing more on transferable skills, strengths, values and motivation for the role and organisation.  

Like everything in life, there are pros and cons and a graduate scheme is not for everyone. Below are some for you to consider. 

Higher (starting) salary High investment in your development Structured training scheme, possible professional accreditation Gain exposure to different business areas (rotational schemes) Intake cohort – you’re unlikely to be the only new starter Strong supportive network

Competition for roles Might not lead to a permanent job Long working hours and at pace Implied expectation you’ll stay with the company: some might require you to work for them for a set period of time after completing your training Can feel like an extension of university Rotational schemes can require you to relocate Graduates might feel like “just a number”

Remember that Careers are here for you and that you have access to 1:1 careers coaching, a wealth of workshops and employer events to help you consider your options and help you plan for your next steps after university.  

Next steps 

• Complete the Graduate Scheme Online Course on Finalist Futures Blackboard organisation. 

• Attend a Finalist Futures event to help navigate your next steps more confidently, such as You’re the recruiter, career workshops, and drop-ins. 

• Follow Finalist Futures on Instagram. 

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Author: Alexandra Baker, Careers Consultant