The Complete Guide to Graduate Schemes

What is a graduate scheme?

A graduate scheme is a structured training programme designed for people who have recently finished university. You join a large employer, work across several teams or departments over one to three years, and receive formal training throughout. Most schemes include study towards a professional qualification, such as ACA for accountants or CIPD for HR specialists.

The point of a scheme is to turn a graduate into a trained professional within the company. You are not expected to know how to do the job on day one. You are expected to learn.

Graduate schemes are not the same as graduate jobs. A graduate job is a standalone role you apply for directly, with no structured rotation programme and no formal training syllabus. A scheme is a programme with a defined start date, a cohort of other graduates, a training plan, and an endpoint. You can read the full comparison in our article on graduate schemes vs graduate jobs.

You do not need to be in your final year to start researching. In fact, most schemes open applications in September or October of your final year, and some close by December. If you are in your second year, now is the time to look at spring weeks and insight days, which feed into scheme applications. See our guide to placements, internships and spring weeks.

Which sectors run them?

Graduate schemes exist across many industries, but they are most common in sectors that need to train large numbers of people to a professional standard. Here are the main ones.

Banking and financial services

Investment banks, retail banks, and asset managers run large analyst and associate programmes. These are among the highest-paying schemes and the most competitive. Employers include Barclays, HSBC, J.P. Morgan, Goldman Sachs, and Lloyds Banking Group.

Accounting and professional services

The Big 4 (PwC, Deloitte, EY, KPMG) and mid-tier firms like BDO and Grant Thornton recruit thousands of graduates each year into audit, tax, consulting, and advisory. Most of these schemes include study towards ACA, ACCA, or CIMA qualifications.

Law

Law firms run training contracts, which are two-year graduate schemes leading to qualification as a solicitor. Since the introduction of the Solicitors Qualifying Examination (SQE), the route has changed. You can now qualify via a training contract or via the SQE without a traditional training contract. Firms like Clifford Chance, Linklaters, and Freshfields still run structured two-year programmes. See our guide on how to get into law.

Consulting

Strategy firms (McKinsey, Bain, BCG), management consultancies (Accenture, Capgemini), and tech consultancies all run graduate programmes. Case study interviews are a core part of the selection process.

Engineering and manufacturing

Rolls-Royce, BAE Systems, Jaguar Land Rover, and Network Rail run multi-year graduate schemes, often with rotations across design, production, and project management. Chartership through the Engineering Council is a common endpoint.

Technology

Large tech companies and the tech divisions of banks, retailers, and public sector bodies run graduate programmes in software engineering, data science, cybersecurity, and product management.

Retail and FMCG

Supermarkets (Aldi, Tesco, Sainsbury's) and consumer goods companies (Unilever, P&G) run management graduate schemes. These are often the most accessible in terms of degree requirements and pay competitively for the sector.

Public sector

The Civil Service Fast Stream is the most prominent public sector scheme. It runs across policy, digital, finance, and diplomacy tracks. The NHS Graduate Management Training Scheme and the Government Legal Department also recruit graduates. Fast Stream applications typically open in the autumn for the following year's intake, and intake numbers can change with government spending decisions.

Media, energy, pharmaceuticals, and transport

Employers across these sectors also run structured schemes. The BBC, BP, GSK, and Network Rail are examples.

How they are structured

Most graduate schemes follow a similar pattern, though the details vary by employer.

Duration

Most schemes last between one and three years. Banking and consulting schemes tend to be two years. Law training contracts are two years. Engineering schemes can run to three years. Accounting schemes at the Big 4 are typically three to three and a half years, because they include professional exam study.

Rotations

You move through different teams or departments every three to six months. This gives you breadth of experience and helps you work out where you want to specialise. A graduate on a banking scheme might spend six months in risk, six months in operations, and six months in a client-facing team before choosing a permanent seat.

Training

Formal training is built into the scheme. This might be classroom sessions, e-learning modules, or day release to a training provider. If the scheme leads to a professional qualification (ACA, ACCA, CIPD, CMI), the employer pays for the exams and study materials. You study alongside your work.

Support

Most schemes assign you a mentor or a "buddy", often a graduate from the previous year's cohort. You also usually have a line manager for each rotation and a graduate programme manager who oversees your progress across the scheme as a whole.

Assessment

At the end of the scheme, you are assessed. This might be a final presentation, a written report, or a professional exam. Passing this assessment means you are confirmed in a permanent role or qualified in your profession.

Cohort

You start alongside a group of other graduates. The size varies. A Big 4 firm might take on 2,000+ graduates in a single year. A boutique consultancy might take on 10. The cohort gives you a built-in network and often a social community.

What you will earn

Salaries vary by sector, location, and whether the role is based in London. According to High Fliers Research, the median starting salary on offer from the UK's 100 best-known graduate employers is £35,000 in 2026, the same as the year before. Here is a general guide by sector.

Investment banking (London)

Around £60,000 in the first year, with bonuses on top. Some US-headquartered banks pay more.

Law (Magic and Silver Circle firms)

£50,000 or more for trainees in London, with several firms paying well above that. Regional offices pay less, typically £30,000 to £40,000.

Big 4 accounting

£30,000 to £35,000 depending on service line and location. London offices pay at the top end. Regional offices start lower.

Consulting

£35,000 to £50,000+ depending on the firm. Strategy consultancies pay more than implementation or technology consultancies.

Engineering and manufacturing

£28,000 to £35,000. Rolls-Royce, BAE Systems, and Jaguar Land Rover publish their graduate salaries on their careers pages.

Retail management

Typically £28,000 to £35,000. Aldi and Lidl's area management schemes are the exception, paying considerably more and often including a company car, in return for a demanding role.

Civil Service Fast Stream

Around £31,500 in the first year (2025-26 rates), rising each year on the scheme.

Technology

£30,000 to £45,000. Large tech companies and the technology divisions of banks pay at the higher end.

These are starting salaries. Most schemes include pay rises at each rotation or each year. Once you qualify or complete the scheme, salaries increase. An ACA-qualified accountant at the Big 4 can expect £45,000 to £55,000 within a few years of qualifying. A solicitor at a top firm earns significantly more after qualification.

The application cycle, month by month

This is the part that catches most students out. The cycle starts earlier than people expect, and with graduate recruitment at the UK's top employers at its lowest level in over a decade, applying early and broadly matters more than ever. If you are in your final year at university, the applications for schemes starting the following autumn are already open by September or October.

July to August (the year before your final year)

Research begins. Look at which sectors interest you. Attend virtual open days. Start building a list of 8 to 12 employers using our Company Directory to see which firms hire graduates in your target sectors. If you missed spring weeks, look for insight days and virtual events.

September

Applications open for most banking, law, Big 4, and consulting schemes. This is the busiest month. Set up alerts on EarlyBird and employer careers pages. Start drafting your application answers. Get your CV updated.

October

Peak application month. Most schemes are open. Some banking and law applications close by mid-November or early December. Attend careers fairs and employer presentations at your university. Take psychometric practice tests so you are ready.

November to December

Applications close for many top employers, particularly in banking and law. Some employers use rolling recruitment, meaning they close as soon as they receive enough strong applications, regardless of the stated deadline. If you have not applied yet, do it now. Do not wait until the closing date.

January to February

If you passed the online application and psychometric tests, you will be invited to video interviews or phone interviews. Prepare answers to competency and motivational questions. Research each employer's values and recent news.

February to March

Assessment centres. These are half-day or full-day events, either in person or virtual. You will do group exercises, case studies, presentations, and one or more interviews. See our guide to assessment centres for what to expect and how to prepare.

March to May

Offers go out. You might receive one or several. You typically have two to four weeks to decide. If you receive multiple offers, you can ask for a short extension, but do not assume one will be granted. See our guide on how to accept, decline or negotiate a graduate offer.

June to August

Final-year exams finish. Some employers run pre-joining events or socials for incoming graduates. You might need to complete background checks or submit your final degree results.

September

You start.

The timeline above is a guide. Some sectors run on different schedules. The Civil Service Fast Stream typically opens in autumn and closes in early winter. Some tech companies recruit year-round. Retail schemes sometimes have January or February start dates in addition to September.

Selection stages

Most graduate schemes use a multi-stage process. Here is what each stage involves and what employers are looking for.

Online application form

You submit your personal details, education history, and answers to two or three written questions. Common prompts include "Why do you want to work for us?" and "Why this role or service line?" Word limits are usually 150 to 500 words per answer. See our guide on answering motivational questions.

Psychometric tests

These are timed, online tests that measure your numerical reasoning, verbal reasoning, logical reasoning, or situational judgement. Different employers use different test providers (SHL, Cappfinity, Aon, and TalentLens are common). You can practise beforehand. See our guides to psychometric tests explained and situational judgement tests.

Video interview

You record answers to pre-set questions on camera. There is no interviewer present. You get a short preparation time before each question (usually 30 seconds) and one or two minutes to answer. Some employers use HireVue or similar platforms. See our guide to video interviews.

Assessment centre

A half-day or full-day event where you complete several exercises. These typically include a group discussion or task, a written case study, a presentation, and one or two interviews (competency-based or strengths-based). Some employers also include an in-tray or e-tray exercise. See our guide to assessment centres.

Final interview

Sometimes this is part of the assessment centre. Sometimes it is a separate stage, often with a senior manager or partner. It is usually competency-based or values-based. Prepare examples using the STAR method (Situation, Task, Action, Result). See our guide to strengths-based vs competency interviews.

Offer

You receive a conditional or unconditional offer. Conditional offers depend on your final degree result. The employer will specify the minimum grade they need (often a 2:1, though many now accept a 2:2). See our article on whether you need a 2:1 for a graduate scheme.

Not every employer uses every stage. Some skip the video interview. Some combine the assessment centre and final interview into one day. Smaller employers might use a shorter process with just an application form and two interviews. Check each employer's careers page for their specific process.

Alternatives to a graduate scheme

A graduate scheme is one route into a career. It is not the only route. Here are the main alternatives.

Graduate jobs (direct entry)

You apply for a specific role at a company, with no rotation programme and no formal training syllabus. You learn on the job. These roles are open year-round, not just in autumn. They exist at companies of every size, including startups and small businesses that do not run schemes.

Apprenticeships

You can start a degree apprenticeship (Level 6 or 7) straight from school or college, or move into one after university. You earn while you learn and finish with a qualification and no tuition debt. See our complete guide to apprenticeships.

Internships and placements

If you are still at university, a placement year or a summer internship can lead to a graduate job offer without going through a formal scheme. See our guide to placements, internships and spring weeks.

Small and medium-sized enterprises (SMEs)

Many smaller companies hire graduates directly into roles without a structured programme. You get less formal training but often more responsibility earlier. Search on job boards, company websites, and LinkedIn.

Startups

Early-stage companies hire for specific skills and tend to value portfolios, projects, and initiative over degree classification. If you are in tech, design, marketing, or product, building a portfolio of work can open doors that a scheme would not.

Freelancing or self-employment

Less common as a first step, but possible in fields like writing, design, software development, and marketing. You need discipline and the ability to find clients.

Further study

A master's degree or a professional qualification can be a route into a career, particularly in fields like psychology, architecture, or academia. This is a different path from a graduate scheme and comes with its own costs and trade-offs.

None of these alternatives are "lesser" routes. Plenty of people build successful careers without ever going through a graduate scheme. The scheme is a structured option. It suits people who want training, rotations, and a cohort. If you want to get stuck into a specific role immediately, a direct-entry graduate job might suit you better.

Myths, corrected

"You need a 2:1 or higher to get a graduate scheme." Many employers still list a 2:1 as a requirement, but the number is falling. Several large employers, including EY and PwC, have removed the 2:1 requirement entirely, and many others, including most Civil Service Fast Stream schemes, accept a 2:2. Some use contextual recruitment, which considers your results alongside your background and circumstances. Check each employer's eligibility page rather than assuming. See our article on whether you need a 2:1.

"If you don't get a graduate scheme, you've failed." You have not. Graduate schemes are one route among several. Many people enter careers through direct-entry roles, apprenticeships, or smaller companies and progress just as quickly. The scheme gives you structure. It does not give you a monopoly on career success.

"You can only apply in your final year." Most schemes recruit final-year students, but some accept applications up to two years after graduation. A few employers run schemes for career changers or people who graduated earlier. Check eligibility criteria on each employer's site. If you graduated more than two years ago, look at graduate jobs and entry-level roles instead.

"The application process is the same everywhere." It is not. Some employers use five stages. Others use two. Some rely heavily on psychometric tests. Others focus on interviews and practical tasks. Read the process description on each employer's careers page before you apply.

"You have to know exactly what you want to do." Most schemes are designed for people who have a general interest in a sector but have not decided on a specialism. The rotations exist precisely so you can try different areas before committing. It is fine to say you are exploring.

FAQ

• How many graduate schemes should I apply to?↓

  How many graduate schemes should I apply to?

  There is no fixed number. Most careers advisers suggest 6 to 10 applications, spread across a mix of highly competitive and more accessible employers. Quality matters more than quantity. Tailor each application to the specific employer rather than sending the same answers everywhere.

• Can I apply to a graduate scheme if I studied a subject unrelated to the role?↓

  Can I apply to a graduate scheme if I studied a subject unrelated to the role?

  In most cases, yes. Employers like the Big 4, banks, and consulting firms recruit graduates from any degree subject. They are looking for analytical thinking, communication, and problem-solving, not a specific academic discipline. Engineering and technology schemes are more likely to require a relevant degree.

• What if I get rejected after the online application stage?↓

  What if I get rejected after the online application stage?

  It happens to most applicants. Large schemes receive thousands of applications for a small number of places. Rejection at the online stage does not mean you are unqualified. It often means the competition was high that year. Apply to other employers, refine your answers, and try again. You can also reapply to the same employer the following year.

• Do I need work experience to apply?↓

  Do I need work experience to apply?

  For most schemes, no. Employers know they are hiring students. They look at your degree, your application answers, and your performance in tests and interviews. Part-time jobs, volunteering, and university societies all count as evidence of skills. Having a relevant internship helps, but it is not a requirement.

• What happens if I fail my final exams after receiving a conditional offer?↓

  What happens if I fail my final exams after receiving a conditional offer?

  Contact the employer as soon as you know your results. Some employers will still honour the offer, particularly if your result is close to the requirement. Others may withdraw it. Policies vary. If the offer is withdrawn, look at graduate jobs and reapply to schemes the following year. You are not barred from reapplying.

• Can I do a graduate scheme part-time?↓

  Can I do a graduate scheme part-time?

  Very few schemes offer part-time working. Most are full-time. A small number of employers, particularly in the public sector, offer flexible working arrangements. If you need part-time work, ask the employer directly or look at graduate jobs instead.

• Is a graduate scheme the same as an internship?↓

  Is a graduate scheme the same as an internship?

  No. An internship is a short placement, usually lasting a few weeks to a few months, often during the summer. A graduate scheme is a structured programme lasting one to three years, starting after you graduate. They are different things with different purposes. An internship can help you get a place on a graduate scheme, but it is not the same as one.

Ready to get started?

Graduate schemes are incredibly competitive, but they are also one of the fastest ways to launch a high-earning, highly structured career in some of the world’s most prestigious companies.

The next step is to start shortlisting employers and preparing for your applications. Create a free EarlyBird account to get personalised graduate scheme recommendations, track your applications, and discover the best employers in the UK.

Sign up for EarlyBird or browse our Company Directory to get started! Good luck!