I'm often dubious when Graduate Schemes are fixed-term as I think one side of the coin asks why they'd keep you at the end when they could bring in cheaper graduates - but maybe that's just the cynic in me.
I think the pros ate obviously;
- Fantastic training and development framework
- Genuine investment in you (my company stated it costs them around £20K by the time a graduate starts on day one...)
- Sponsorship for professional qualifications (where applicable).
- Real responsibility and projects that ensure you're adding value to the business
- Strong support network within the business from both 'buddy' colleagues and the graduate cohort etc.
- Great exposure to the business
... the list goes on...
Cons;
- Can be pigeonholed
- Might not lead to a job
- May have to move about the country on rotations (could be a pro?)
- Competition is fierce
... again, there are plenty...
At least the bulk of these are true for most Graduate Schemes with large firms (not all).
In any case, you're unlikely to decline the offer so embrace the process and scheme - with an RBS graduate scheme in HR and possible professional qualifications (CIPD or similar) you're unlikely to be unemployed for long.