Is doing Graduate Scheme after a Graduate Job worth it?

I graduated with a degree on Mechanical Engineering. And soon after, ended up with a Graduate Job as a Production Engineer. Lets say, if I was to work as a Production Engineer for 1-2 years and go back into a Mechanical Engineering Graduate Scheme, is it going to be worth it? Or will I just be going in circles? Once the Graduate Scheme ends, back to where I am now?

I graduated with a degree on Mechanical Engineering. And soon after, ended up with a Graduate Job as a Production Engineer. Lets say, if I was to work as a Production Engineer for 1-2 years and go back into a Mechanical Engineering Graduate Scheme, is it going to be worth it? Or will I just be going in circles? Once the Graduate Scheme ends, back to where I am now?

Whether it is worth it depends on what your career goals are, and also what the difference in salaries. Graduate schemes are usually open to those who have up to a couple of years of experience, and people do join them after already having worked in industry for a year or so.

If you have already been working for a short period of time, graduate schemes may be the easiest way to switch career paths. It can be difficult to move tracks once you become established in one path, so if you don't like the current track you're on it may be advisable to move sooner rather than later.

In terms of salaries, graduate schemes are typical ran by larger, higher profile organisations that also pay a relatively well. As a result, joining a grad scheme may also result in quite a decent pay increase, maybe around 10-20%. If you take an average paying graduate job - say £25K - then it can take a few years to reach the £30K mark (two 10% pay rises, which you're probably unlikely to get if you're not on a structured programme with rises built in, or four 5% rises, which again may be somewhat optimistic).

A grad scheme is still a job, so when on one, you are a normal employee (unless the contract is fixed term for the length of the scheme, but I've not heard of that in engineering grad schemes). You remain a normal employee when you complete it, though hopefully a more experienced, productive and better paid one (and you may even get a promotion upon completion).

If after completing the graduate programme scheme, could you leave the company to join another, especially if you are looking to work abroad?

Yes you can leave a your employment at a company at any time. Your employment contract will advise on the required notice period.

I read a thread on how graduate employee may be financially penalised if they decide to change job as from the perspective of the employer, they may feel like they invested in you and would like to be compensated for their contribution. On the other hand, graduate trainees are paid employees, right?