Placement year vs Graduate Scheme Watch

Momo_27
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Hi Guys! I'm in my second year at the moment and wondering what are the pros and cons of doing a placement year and/or taking on a graduate scheme once graduated. I am confused as to which one to take on.
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kkboyk
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(Original post by Momo_27)
Hi Guys! I'm in my second year at the moment and wondering what are the pros and cons of doing a placement year and/or taking on a graduate scheme once graduated. I am confused as to which one to take on.
Both are completely different: a placement year is essentially an internship that lasts typically 12months, whereas a graduate scheme is a full time, professional structured training programme for graduates that lasts typically around 2-3yrs. It offers the opportunity to try out different roles within a department, or even outside your department and build the skills you need.

Graduate schemes are extremely competitive, since there are limited amount of space and a huge number of people applying per space. Doing a placement year increases your chance of landing a graduate scheme, as you'll have a year's worth of (relevant) experience, which you've spent gaining some transferrable skills.
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Momo_27
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(Original post by kkboyk)
Both are completely different: a placement year is essentially an internship that lasts typically 12months, whereas a graduate scheme is a full time, professional structured training programme for graduates that lasts typically around 2-3yrs. It offers the opportunity to try out different roles within a department, or even outside your department and build the skills you need.

Graduate schemes are extremely competitive, since there are limited amount of space and a huge number of people applying per space. Doing a placement year increases your chance of landing a graduate scheme, as you'll have a year's worth of (relevant) experience, which you've spent gaining some transferrable skills.
Aren't Internships just as competitive? Also, there seems to less internships than graduate schemes when I've been researching
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kkboyk
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(Original post by Momo_27)
Aren't Internships just as competitive? Also, there seems to less internships than graduate schemes when I've been researching
They are indeed, especially for large firms like HSBC (last year for the role I have applied for they stated there are only 10 spaces availabe, and there were around 2 assessment centres with around 70-80 people, which we split into groups of 5-8 in the venue). Depends on what sort of job you're looking at. Most companies that offer graduate scheme also offers internships (mainly summer).

I'd personally suggest checking out smaller firms as a lot of them have really good opportunities (you can find a lot of them in graduate talent pool's website).
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