imabutterfly
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Why do so many people apply for them...is it for the ‘free’ training, company prestige and/or job security?

Do you think there are more than ever applications this year (for 2021 entry)?
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MindMax2000
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I don't think you get much job security anywhere.

Company prestige is kind of a thing when it comes to your career history. With some companies, it's more about having a prestigous background that will get you employed e.g. in investment banking, it is said that you coming from one of the large investment banks will often help you get another job at another large investment bank. It's very hard to get a job from a lesser known investment bank to a larger one.

When it comes to training, the larger the company the better it usuallly is. With medium and small companies, training is often limited or non-existant because of the lack of resources and dedicated personnel. If you want hand-holding and better training, the larger companies are usually the ones who can afford the resources to do so.
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imabutterfly
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(Original post by MindMax2000)
I don't think you get much job security anywhere.

Company prestige is kind of a thing when it comes to your career history. With some companies, it's more about having a prestigous background that will get you employed e.g. in investment banking, it is said that you coming from one of the large investment banks will often help you get another job at another large investment bank. It's very hard to get a job from a lesser known investment bank to a larger one.

When it comes to training, the larger the company the better it usuallly is. With medium and small companies, training is often limited or non-existant because of the lack of resources and dedicated personnel. If you want hand-holding and better training, the larger companies are usually the ones who can afford the resources to do so.
Thank you! What about for HR - does being accepted on a grad scheme at a prestigious company really matter? Or is it just as good starting entry level job and working way up?
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MindMax2000
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(Original post by imabutterfly)
Thank you! What about for HR - does being accepted on a grad scheme at a prestigious company really matter? Or is it just as good starting entry level job and working way up?
I'm not particularly clear on HR. From what I have seen, it doesn't seem to matter and it's more about what sort of things you have done in your previous job.
I know that CIPD is probably the qualification employers tend to look into.

You might want a second opinion from a HR person though.
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AndyChow
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Because so many graduates come from over-saturated fields particularly the humanities and they have no relevant skills and experience to find proper jobs. Even for low-skilled labor jobs like McDonalds they would be considered overqualified

Their only way out is via graduate schemes because 1.they don't ask for specific degrees, 2. they don't ask for experience. Furthermore, people think having a 'big brand' for your 1st job is beneficial for your future career.
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route255
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I applied to grad schemes as it was specific to what i studied at Uni. I don't have any experience either, no brainer to apply to these and non grad schemes. A lot in my uni class didn't bother applying to the grad schemes.
More about speculative applications in my field.
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Smack
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(Original post by imabutterfly)
Why do so many people apply for them...is it for the ‘free’ training, company prestige and/or job security?
A lot of people apply to grad schemes because that's what a lot of big companies who are well known in their field, with the highest graduate outreach, offer - the companies that most graduates are most likely to want to apply to. It was mainly graduate schemes I applied to for that reason.

So I think they are neither underrated nor overrated. If companies you'd like to work for offer them, you'll likely apply. If not, I don't think it's unlikely you'll apply for any - not least due to how involved the application process can be for some of them.
Last edited by Smack; 1 month ago
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londonmyst
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Yes, I think that they are overrated.
People apply for a variety of reasons: comfortable new graduate salaries, company prestige and recommended by uni careers service/personal tutor.
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