Following the recession in 2009, it has become incredibly challenging for university graduates to find a financial job. However, finance is a crucial part of every organisation and this sector is vast with different types of opportunities. Graduates equipped with appropriate qualification, professional training and specific skills are likely to find desired financial position in the company of their choice.
Many companies also arrange graduate training schemes to expose these new candidates to overall business processes and help them to acquire specific knowledge about the job. These schemes are beneficial for graduates eager to step into the job market.
What one can expect from these graduate schemes?
These courses can be divided into two parts. During the beginning of the course you will be offered a general overview of business and basic information about this sector. It is more or less similar to what you have learnt in your degree courses. In the later part, the course will focus on specialist skills relating to the career of your choice. This will involve on-the-job training or formal training conducted by the employer.
In these graduate training schemes, you will be allowed to focus on broad functions, instead of the specific roles. Many graduates are confused regarding the role that will be suitable for them. This graduate scheme enables them to decide on the exact role as they will be allowed to work in different departments during the tenure of training.
The trainees will have the opportunities to interact with senior executives and these executives will also support them to make this crucial career decision. They will have the chance to familiarise with the employer and the clients of a business. This will build up their confidence. Moreover, the fresh graduates will have the opportunity to face challenges and work under pressure. Most importantly, these graduate schemes offer valuable experience.
An overview of the graduate scheme
The programme usually starts with an induction period where the trainee will be introduced to the company, types of clients and customers the company deals with and the projects that this company conducts. After the training, it is expected that you will have a fair knowledge about different types of financial responsibilities and you are pretty sure for which role you will like to apply.
Graduate schemes come in different shapes and sizes and are offered by global organisations as well as small or medium enterprises. It is expected that there will be fierce competition to get placed with one of the graduate schemes of big enterprises. In order to boost your chances you need to work on your skills, resume and attributes.
A graduate scheme lasts for one to three years and will provide an overview on how different departments of financial sector function. The trainees are usually placed in any one of the offices of the company. Although salary varies according to the nature of industry, from a financial graduate scheme one can expect an average salary of £ 25,000 per annum.
Applying for these schemes
Companies will expect something more than your degrees. Hence, mentioned clearly in your resume the skills and characteristics that will help you to get selected. Usually, the application process includes online application, followed by interview and assessment centre session. Some organisations prefer psychometric test.
Ways to find these graduate schemes
Most employers, who select graduates for their schemes visit Universities on a regular basis. Information regarding these graduate schemes can be found in university’s career centres. Npower is an organisation that organise training schemes for graduates. You may apply to the npower graduate finance scheme from their website. Those aspiring to begin their career with a graduate training scheme should check the website from time to time so that they do not miss the opportunity.