Banking Graduate Schemes

Ready to start a banking career right after graduation? Banking graduate schemes are your fast track into the industry, and it’s a lot more exciting than you think.

You won't find yourself counting cash or guarding vaults. Instead, you'll be using the latest tech to solve real problems for real people. Picture yourself helping a small business owner expand their dream café or working with your team to develop the next big banking app.

The banking industry has a buffet-level choice of graduate programmes waiting to be filled by future talent like yourself. On top of that, banking is one of the top ten highest-paying industries in the UK.

Here's a quick breakdown:

AVG SALARY: £35,000 | WHEN TO APPLY: Sep - March

Read on to find out everything you need to know about banking graduate schemes.

Jump To:

What is a banking graduate scheme? Types of scheme What banks could I work for? How much do they pay? Entry requirements When do I apply? How do I apply?

What is a banking graduate scheme?

A graduate scheme is a two to three year programme open to all university graduates. It's like any other full-time job, but with some key differences:

You'll rotate around different areas or departments of the business, usually every 6 months
They are more structured, even down to the application process and when you apply
You'll receive expert training, support and mentoring

Most banks and large financial companies offer graduate schemes to fully immerse banking graduates into the financial world. They're very popular and attract thousands of applicants a year.

At the end of your banking graduate scheme, you'll be loosed from the programme. This means you can either find a new role with the employer you are with already, or find another job elsewhere.

Types of banking schemes for graduates

Whether you have an interest in wealth management or prefer to work in-branch, there’s something for you. One of the great aspects of banking is that it’s very diverse, and you don't necessarily have to have a finance background either. Here are a few schemes you could do:

CORPORATE AND COMMERCIAL BANKING

You’ll help businesses manage their money and grow. Whether it’s a family-owned pizza joint or a tech start-up, you’ll get an inside look at how businesses work. Some of your tasks might include:

Meeting clients to understand their needs and offer solutions
Advise businesses on the best ways to manage their money and investments
Help companies get loans to expand their business or innovate products
Set up ways for businesses to handle international payments (super useful for companies that work globally)
Advise businesses on the best ways to manage their money and investments.

FINANCIAL CRIME

Fraud and scams cost the UK billions of pounds every year. So you’ll be part of helping everyday people and businesses avoid and recover from financial crime. You’ll use your problem-solving skills to identify trends within financial records and find solutions to protect investments and other assets or even recover lost money.

INTERNAL AUDITING

As an internal auditor, you'll be behind the behind-the-scenes, helping businesses run smarter and safer. You'll dig deep, ask tough questions, spotlight opportunities for improvement and gain an incredible insider view of how companies really work.

Which employers offer banking graduate schemes?

You’re in luck because there are loads of employers looking for talented banking graduates to join their ranks. We’ve included a few below for you to get stuck into.

Westcotts

4.4/5 (16 Reviews)

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National Savings and Investments

0/5 (0 Reviews)

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St. Modwen Logistics

0/5 (0 Reviews)

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Lowell Group

0/5 (0 Reviews)

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Legal & General

4.5/5 (24 Reviews)

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Haleon

4.3/5 (14 Reviews)

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VIEW MORE BANKING EMPLOYERS

Meet Emma, a graduate on the commercial banking scheme at NatWest. Find out all about the scheme in this video.

How much does a banking graduate earn?

There’s a lot of earning potential in the banking world.

Every scheme is different, so it literally pays to double-check when you’re looking for a graduate scheme.

For example, a banking graduate could earn between £35,000 and £38,000 per year on a Santander programme. NatWest pay their commercial graduates £35,000 per year, and Lloyds Banking Group pays their risk graduates £42,000 per year plus benefits.

Benefits within the banking industry tend to include generous bonus schemes, private healthcare and wellness days.

What are the entry requirements?

Most employers will ask for you to at least have a 2:2 in a relevant degree, whereas some employers will ask for a 2:1 in a relevant degree.

You don’t necessarily need to come from a banking or finance background either. However, it does help to have an interest in the banking industry.

When should I apply for a graduate scheme?

The best time to start applying for banking graduate schemes is between September and December. But if you're eager to get started, many employers begin their talent search as early as January.

If you’ve missed out, you still have options: graduate jobs in banking. These positions are available all year round and come with a straightforward application process, making your banking journey more flexible.

How to apply

You’ll start by putting together your graduate CV and cover letter. This is your first chance to show employers what makes you special. Remember to tailor them for each role you're interested in.

TOP TIP: Match your skills and experiences to what they're looking for in the job description.

Next is usually a phone or video chat. This is your opportunity to learn more about the scheme while sharing what makes you perfect for the role. Think of it as a friendly conversation.

The final stage is typically an assessment day. You'll get involved in a mix of activities like interviews, online tests, and group tasks. All are designed to help employers get a well-rounded view of you.

We have loads of application advice to help you get the grad scheme you deserve.

APPLICATION TIPS