Quitting my Graduate Scheme

Hi all, I need some advice.
I have been offered a grad scheme in a job I don't want to do (call it my insurance option). I think I will take it because I don't want to be a jobless graduate.

The thing is, I want to quit it after 9 or 10 months, to move into a new graduate scheme, which is the one I really want.

My plan is to take the current offer, but reapply for grad schemes in the next cycle of graduate schemes that start around sept 2011, then hopefully land the offer I want, and start that in 2012, while quitting my 2011 grad scheme.

The grad scheme offer I got is 2 years.

OK, so am I allowed to quit my grad scheme? Im looking to move from the (back office) retail side to the front office corporate side. I know I can do this because In my recent AC for the corporate banking, I woulda got it apart from one teeny point.

thanks,
Dr. D :smile:

Reply 1

J4ME5

Original post by dr.dangerous

OK, so am I allowed to quit my grad scheme?

Nope, you're locked in forever. When you quit you get black listed from all graduate schemes.

....

Of course you can, as long as you justify why you want to leave, I recently left consultancy for IB.

Reply 2

The IC Guy

Too late to apply for some FO internships for this coming summer? I forget when intern deadlines are.. there must be a few still open?

Reply 3

dr.dangerous

Original post by J4ME5

How good does your reason have to be? can't I just say I'm not happy here anymore, or I have decided to take a new direction?

Reply 4

The IC Guy

Original post by dr.dangerous

How good does your reason have to be? can't I just say I'm not happy here anymore, or I have decided to take a new direction?

You present to a panel of MD judges. Your reason needs to score on average higher than 7 out of 10.

Reply 5

dr.dangerous

lol, no seriously, because if I quit, I don't want a crappy reference.

Reply 6

The IC Guy

You'll be fine. Chill.

Reply 7

J4ME5

Original post by dr.dangerous

How good does your reason have to be? can't I just say I'm not happy here anymore, or I have decided to take a new direction?

They'll ask why you're not happy of course. One of my interviews was based around why I was leaving my current grad scheme. As long as you keep clear of 'because its more money', state FO suites your work style and interests, long term career aspirations etc etc. Also avoid slagging off your current graduate scheme, no one likes a hater.

I guess how good the reason will be will depend on your interviewer(s).

Reply 8

stanmoor

Well, when it comes to interviews they'll say "You're already doing a grad scheme..why you doing this one? Are you a quitter?" And then it'll be very hard to swing it back your way IMO.

Reply 9

modgepodge

Check your contract. My friend is training to be an accountant at one of the big grad places (PWC?) and if he quits in the first 3 years he has to pay back tens of thousands of pounds, as they pay him through all his exams.

Reply 10

dr.dangerous

Original post by modgepodge

really? I thought you only pay back the exam fees :O

and the thing about being a quitter, yeah, similar to the grilling the guy got on the apprentice in the interviews if you watched it hahaha
oh well, not like they can stop me from leaving...

Reply 11

modgepodge

Original post by dr.dangerous

I'm not sure tbh, I think it is just exam fees but they come to tens of thousands of pounds. I know it was a massive amount cos him and his gf are reasonably well off (both in jobs earning about £40k 2 years after graduating, own a house etc), and he really wanted to quit cos he hated it and wanted to be a teacher but the amount he'd have to pay stopped him.

Reply 12

J4ME5

Original post by modgepodge

the amount he'd have to pay stopped him.

That's how Accenture hooks people in :noway:

Reply 13

Mustard-man

Original post by modgepodge

Not the case with my friend who started about a month with EY this year and then quit and is now due to start IB in January.

Perhaps his case was only early on, so not much resources was actually put into him...