A graduate scheme is a structured two to four year programme in which a large employer rotates you through different functions, gives you formal training, and provides a fast track to a management or specialist role. Most open applications in September and October of your final year, with assessment centres running through winter and spring.
Which employers run graduate schemes
The largest programmes are run by professional services firms (the Big Four accountancies, large law firms), financial institutions (investment banks, insurers, asset managers), consumer goods companies, technology firms, the Civil Service Fast Stream, NHS leadership programmes, and major retailers and logistics firms.
The High Fliers Research annual graduate market survey estimates that around 25,000 formal graduate scheme places are offered each year across the UK's largest employers. Competition is significant - acceptance rates at the most popular schemes are below 5%.
Typical salaries
Starting salaries on graduate schemes in London professional services tend to fall between £32,000 and £45,000, with some investment banking programmes starting higher. Civil Service Fast Stream roles start at around £32,000 outside London. Technology graduate schemes at established firms sit between £30,000 and £50,000 depending on specialism.
Many schemes include a performance-related bonus, pension contributions, and professional qualification funding.
What the application process looks like
Most applications involve:
- An online application form asking about motivations, competencies, and academic background.
- Online aptitude tests covering numerical reasoning, verbal reasoning, and sometimes situational judgement.
- A video interview or recorded question set.
- An assessment centre with group exercises, case studies, and a competency-based interview.
Tip: Use the LEO data on CourseMap to identify which sectors graduates from your course consistently enter. If the five-year salary data shows high earnings in a particular industry, alumni from your course are evidently competitive there - which is useful context for your application covering letter.
Alternatives to formal schemes
Many smaller employers offer graduate roles without a formal scheme structure. These positions often provide faster progression because there is less bureaucracy, and the starting salary is frequently comparable. Do not limit your search to named graduate schemes - look at smaller employers in your target sector with strong graduate outcome data.