7 Best Finance Graduate Schemes in UK – A Career Guide for 2024
Updated March 20, 2024
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- Best Finance Graduate Schemes 2024 in UK
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- Santander Finance Graduate Scheme
- What Is a Finance Graduate Scheme?
- Why Apply for a Finance Graduate Scheme?
- Is Finance a Good Career Path?
- How to Apply for Finance Graduate Schemes UK
- Tips for Securing a Finance Graduate Position
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- Frequently Asked Questions
- Final Thoughts
Finance Graduate Schemes are available from various UK financial institutions, including banks, insurance companies and investment firms.
Each graduate scheme is slightly different, so conducting thorough research before submitting an application is important.
Some of the best Finance Graduate Schemes in the UK include:
- British Airways Finance Graduate Scheme
- Lloyds Finance Graduate Scheme
- Natwest Finance Graduate Scheme
- EY Corporate Finance Graduate Scheme
- Bank of England Finance Graduate Scheme
- Sky Graduate Scheme
- Santander Finance Graduate Scheme
Best Finance Graduate Schemes 2024 in UK
Read on to learn more about some of the best finance graduate schemes in the UK.
British Airways Finance Graduate Scheme
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| 3 years | London Heathrow | From £33,000 | 2nd October | 1st November |
British Airways (BA) is one of the most prominent airlines in the world. It was founded in 1974, and its headquarters are in Waterside, Harmondsworth (near Heathrow Airport).
London Heathrow Airport is one of the busiest in the world, and the airline also has a significant presence at London Gatwick Airport.
During the BA Finance Graduate Scheme, you will rotate through three different roles and have responsibility for real business initiatives to support critical areas of the business.
Throughout the placements, you will experience different ideas and projects and have the chance to build up a professional network. BA will sponsor and support you to achieve your preferred professional finance qualification (ACCA, ACA, ICAEW or CIMA).
To apply, you must be on track to achieve a 2:2 degree (or equivalent), which can be in any subject. You must be able to demonstrate commercial awareness, strong communication skills and the ability to influence others.
You will also have effective problem-solving skills and a strategic approach to business challenges.
Lloyds Finance Graduate Scheme
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| 3 years | Bristol, Edinburgh, London | From £42,000 | Yes | November |
Lloyds Banking Group is a major British financial institution and one of the biggest retail and commercial banks in the UK.
Its history dates back to the 18th century, and its company headquarters are based in London. The Group operates under several brands, including Bank of Scotland, Lloyds Bank and Halifax.
The Finance graduate scheme at Lloyds involves rotating through various placements in the division, including Core Finance, Insight, Analysis and Data and Business Partnering or Specialist Finance.
During the scheme, you will have the opportunity to build a strong foundation as a future Finance leader. At the end of the programme, you will be able to apply for a permanent role. Lloyds will sponsor and support you in your studies to become a chartered accountant (CIMA, ACA, or ICAS in Edinburgh).
To apply, you must have a 2:2 degree in any subject from any university.
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| 3 Years | London, Edinburgh | £33,500 | TBC – Check the website | TBC – Check the website |
NatWest Group is a major British financial services and banking company. Its history dates back to 1727, which means it is one of the oldest banks in the UK. It operates in the UK and Ireland and has a significant presence in Scotland and England.
The Natwest Finance Graduate Scheme allows graduates to learn about financial products and operations while gaining experience and insight into working in the financial services industry. As part of the programme, you will work with respected industry leaders and complete a minimum of one rotation in an alternative location.
As part of the programme, you will be supported to study for your preferred professional accountancy qualification and develop an understanding of the organisation’s core business activities.
To apply, you must have achieved (or be on course to obtain) a 2:1 degree in any subject.
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| Two years | London | £33,500 | TBC – Register your interest | TBC – Check the website |
EY (Ernst and Young) is one of the prestigious Big Four accounting firms. It was founded in 1989 through the merger of Arthur Young & Co. and Ernst & Whinney. The firm has a global presence and offers a variety of professional services, including advisory services, consultancy, tax and audit and assurance.
The EY Finance graduate scheme helps graduates acquire business, technical and commercial skills to complement their careers. Graduates work in either the UK & Ireland or Financial Services to develop specialist expertise, technical abilities and commercial skills in the Debt Advisory, Government and Transport, and Mergers & Acquisition disciplines.
After completing the first year of the programme, graduates are eligible to apply to study for the Chartered Financial Analyst (CFA) qualification.
To apply, you must be working towards an honours degree (in any subject), have GCSE (or equivalent) qualifications at grade 4/C in English and Maths, plus three A Levels/Five Highers (or equivalent).
Bank of England Finance Graduate Scheme London
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| Two years | London | £35,000 | Yes | November |
The Bank of England is the central bank of the UK.
It was founded in 1694, and the iconic Bank of England building is on Threadneedle Street in London, which houses the bank’s operations. The Bank of England is a key part of the UK’s economy and financial system. It is responsible for maintaining economic stability, regulating the financial sector and overseeing the issuance and integrity of currency.
The Bank of England Graduate Development Programme is aimed at graduates who want to pursue a career at the heart of the UK economy. As part of the programme, you will be involved in business meetings and gain all the skills you need to become an expert analyst.
Graduate trainees are also offered the chance to study for a Master’s-level apprenticeship or other industry-recognised qualification. Candidates can apply in one of the following areas:
- Operations (generalist scheme open to candidates from any degree discipline)
- Economist (open to candidates studying finance or economics at degree level)
- Risk (open to candidates from any degree discipline)
- Data (open to candidates studying engineering or maths)
- Technology (open to candidates from any degree discipline)
- Supervision (open to candidates from any degree discipline)
- Postgraduate (open to candidates working towards a Master’s degree in Finance or Economics)
Sky Finance Graduate Scheme
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| 3 years | Osterley, West London | £32,000 | TBC – Register your interest | TBC – Check the website |
Sky Group is a British media and telecommunications firm with a presence in the UK and Ireland. It offers various services, including TV broadcasting, telephone and internet services. The company was founded in 1989 and is headquartered in Osterley, West London.
Sky finance graduates are empowered to take responsibility for exciting projects and learn on the job as they work towards their Chartered Institute of Management Accountants (CIMA) qualification. From supporting new product launches to managing company budgets, this programme is perfect if you want to kickstart your career at one of the UK’s leading entertainment brands.
During the programme, you will complete three year-long placements, providing exposure to all areas of the business.
The only essential requirement for this scheme is that applicants must be due to graduate soon.
There is no need to have a specific degree, but you will need to show that you have a passion for numbers and drive to succeed.
Santander Finance Graduate Scheme
| Duration | Location | Salary | Applications Open | Applications Close |
|---|---|---|---|---|
| 3 years | Unity Place, Milton Keynes | £35,000 | November | TBC – Check the website |
Santander Group is a global financial services firm with a presence in Europe and the Americas. It was founded in 1857 and is now considered one of the most influential banks in the world.
The Santander finance graduate scheme is designed for ambitious graduates with an analytical mindset, the ability to build trusted working relationships and the drive to solve complex problems.
There are two paths (Finance and Treasury), and during the programme, you will gain exposure to all aspects of Finance or Treasury. Each time you pass an exam, you will be put forward for a pay rise. By the end of the programme, it is possible that you could be earning £47,000.
To apply, you will need to have a Bachelor’s degree (in any subject) or be due to complete your studies prior to the programme commencement date.
What Is a Finance Graduate Scheme?
A finance graduate scheme is a job role you can apply for after completing your university studies. Also known as a finance graduate programme, most finance graduate schemes last between one and three years.
Finance graduate schemes provide people interested in finance careers with a structured training and development programme. The purpose of a finance graduate scheme is to prepare you for a successful career in finance. Some programmes lead to further qualifications.
As a finance graduate, you will join the company on a fixed-term basis and receive vocational, on-the-job training for a finance role. The company may offer you a permanent position at the end of your placement.
Financial institutions such as banks, insurance companies and investment firms offer most finance graduate schemes, but they are also available through other major employers.
Finance graduate schemes are available in niche areas such as accounting, financial analysis, auditing and tax. Other programmes offer exposure to all aspects of finance.
Why Apply for a Finance Graduate Scheme?
Applying for a finance graduate scheme offers many benefits, including:
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Structured training and development: Most finance graduate schemes offer a structured training program that is designed to help you gain the necessary skills and knowledge to succeed in your finance career. Many include extra qualifications and mentoring, which will both help to accelerate your professional growth.
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Job rotation: Most finance graduate schemes are rotational, which means you will have the chance to work in many different areas of finance. This exposure means you can explore all the different parts of working in finance, such as investment banking, risk management, asset management and corporate finance.
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Networking opportunities: Finance graduate schemes are designed to help you connect with experienced professionals already working in the industry. Setting up a strong professional network is crucial for future career development, whether you intend to remain with the same employer or explore other roles within finance.
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Fast track progression: Applying for a finance graduate scheme could help you to move up the career ladder faster than if you chose to apply for an alternative entry-level finance role.
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Job security: Firms and organisations rarely choose to streamline their finance teams, so choosing a career in Finance could mean better job security in the future. What’s more, every company needs skilled finance employees, so it’s likely that there will always be job opportunities you can apply for.
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Earning potential: Finance staff often earn some of the highest salaries in an organisation, with some CFOs earning more than CEOs. The financial services industry is well-known for its competitive compensation packages, including performance bonuses and financial incentives.
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Transferable skills: Even if you choose not to pursue a career in finance, you will still have gained invaluable transferable skills that can be used in other industries.
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Challenging work: Finance departments often deal with complex, high-stakes problems that are intellectually stimulating and rewarding. Being involved in challenging projects will help you develop your problem-solving and critical-thinking abilities.
Is Finance a Good Career Path?
Finance is a good career path for many people, but it is important to consider your own interests, skills and career goals before deciding to embark on a career in finance.
If you have a genuine interest in financial topics, strong analytical skills and a willingness to adapt to industry changes, finance could be a good option for you.
In addition, if you are considering graduate opportunities, the financial services industry offers many opportunities for graduates. There are usually plenty of jobs on offer, as well as opportunities for career progression and the chance to earn a competitive salary.
Having a background in finance could also stand you in good stead for setting up your own business in the future.
How to Apply for Finance Graduate Schemes UK
Each scheme has a slightly different application process. However, in most cases, you will be required to work your way through the following stages:
Step 1. Application
After deciding which finance graduate scheme to apply for, you will need to submit an application form.
This usually includes information like your personal details, contact information, education information, exam results, personal statement and current CV or resume.
When completing your application form, think carefully about how your existing skills, qualifications and experience make you a good fit for the job role you are interested in.
You should also think about how your personal qualities make you a good candidate and how you might use these to contribute to the organisation’s mission and goals.
Step 2. Online Assessments
Many graduate programmes require candidates to complete one or more online assessments as part of the recruitment process.
These vary between organisations but could be anything from verbal reasoning and numerical reasoning tests to career-focused personality assessments.
The best way to prepare for the online assessments is to complete a few practice tests. You can find these on websites such as JobTestPrep.
Once you are familiar with the type of questions you are likely to see on these tests, practice completing them under timed exam conditions. This will help you to improve your time management skills and ability to work under pressure.
Step 3. Interviews
If you pass the online application and assessment stages, you will probably be invited to the interview stage.
Some companies use an initial video interview to screen out candidates; others ask candidates to attend an assessment day and be interviewed by a series of different people.
If you do not have much job interview experience, it is vital that you prepare for this stage of the recruitment process. You might want to ask a friend or family member to conduct a “mock” interview so that you can improve your body language, eye contact and answering technique.
It is also a good idea to research the different types of interview questions you might be faced with, such as competency-based interviews and behavioural interview questions.
Step 4. Assessment Centre
Many employers use assessment centres during the latter stages of the hiring process for graduate programmes.
At an assessment centre, you will be asked to participate in various activities, including teamwork tasks, written assessments, aptitude tests and formal interviews. The assessment centre format varies between organisations, so it is best to ask for a full programme of the day if this is not provided.
Tips for Securing a Finance Graduate Position
Looking for tips for securing a finance graduate position?
Read on to find out what you can do to stand the best chances of success in your finance graduate application.
Research the Company
Ensure you read any information the company provides throughout the recruitment process.
You should also conduct your own online research, take advantage of networking opportunities and use business social media pages such as LinkedIn to interact with former or current graduates working for your chosen firm.
Prepare for the Assessments
If you are required to sit any assessments or tests, it is important that you prepare adequately for these.
This might include learning more about the format of the test or completing mock tests online.
If you know that you will be expected to complete assessments, make sure you allow yourself plenty of time to complete these by the deadline.
Arrive on Time
Punctuality is key, so if you are invited to attend a video interview or in-person meeting, allow yourself sufficient time to get there punctually.
You will also need to think about what you are going to wear to the interview in advance - formal dress is best for a face-to-face interview or assessment centre.
Speak to Other Graduates
If you are able to connect with people on the graduate scheme, this is a useful way to learn more about what to expect from the process and job role.
If the company does not offer opportunities to connect you with these people, try using LinkedIn to make connections.
Take Care of Your Physical and Mental Health
The graduate scheme application process can be stressful. It is important that you make time to look after your physical and mental health needs by eating a healthy diet, drinking plenty of fluids and exercising regularly in the days leading up to your assessment tests or interview. You should also build time for relaxing into your schedule.
Frequently Asked Questions
Finance graduate schemes (or finance graduate programs) are structured training and development programs designed for recent university graduates interested in working in the financial services industry. Banks, investment firms and insurance companies usually offer finance graduate schemes, although they are also available within large corporations and organisations. The main purpose of a finance graduate scheme is to prepare graduates for a career in financial services.
If you are interested in a career in finance, completing a finance graduate scheme will give you a strong grounding, and it could also open other opportunities for you in the future. Working in finance offers many rewards, including structured training and development opportunities, diverse career pathways, competitive salaries and the chance to work for prestigious, globally recognised brands. As a finance graduate, you will attain many transferable skills which will be useful whether you choose to pursue a career in finance or not.
Working in finance can be competitive and demanding, with long working hours. As with any career path, you will need to consider your strengths, preferences and goals before deciding whether a career in finance is right for you. If you do decide to pursue a career in finance, you will have the opportunity to enjoy many rewards and benefits, including job stability, competitive compensation packages, specialist training and development and global career opportunities.
Finance graduate schemes are offered on a fixed-term basis, usually ranging from one to two years. During the scheme, you will receive structured training and the opportunity to rotate through different job roles and departments. Upon completion of the program, you may be offered a permanent role with the organisation, although this is not guaranteed.
Salaries for finance graduate schemes vary significantly depending on the organisation, job location, position and industry segment. In many cases, finance graduate schemes offer competitive salaries to attract and retain top talent. Your salary might increase during the programme or after you move into a permanent role with the organisation. Generally speaking, a finance graduate scheme in a major financial centre such as London will command a salary of around £30,000.
Some of the most prominent finance companies in the UK include Goldman Sachs, J.P. Morgan, Morgan Stanley, Barclays, Citigroup, Credit Suisse, BlackRock, HSBC, Lloyds Banking Group, Royal Bank of Scotland (NatWest), Santander UK, Deloitte, EY, PwC and Grant Thornton.
The application process for finance graduate schemes varies between organisations. Still, it typically involves the completion of a structured application process, including an online application, online assessments, interviews, assessment centres, networking events and onboarding. To find out more, visit the careers page on the website of your preferred finance graduate scheme.
Final Thoughts
For many reasons, embarking on a finance graduate scheme can be a valuable career move. These include the opportunity to work through a structured training and development programme, exposure to various job roles, networking opportunities, competitive compensation and the potential for fast-track career progression.
This article provides information on some of the best finance graduate schemes in the UK. Still, there are many others to consider when researching your options, including the Deloitte, Deutsche Bank, J.P. Morgan and CIMA graduate scheme.
