6 great alternatives to graduate schemes
Thinking about your next step after uni? A lot of the focus is likely to be on graduate training schemes, but have you considered the alternatives?
While graduate schemes do tend to be a popular road for uni-leavers to take, it's for this reason that they tend to be super competitive – not to mention the fact that they aren't always the right choice for everyone anyway.
In fact, the majority of graduates don't get onto graduate schemes, whether by choice or otherwise!
And that's fine because there are loads of alternatives for starting your career. Even if you are applying for grad schemes, we suggest keeping these options in mind too.
6 alternatives to grad schemes
Apply to companies directly
Skip the whole formal graduate scheme application process and contact companies that interest you directly.
They may have graduate positions available that aren't explicitly advertised, or simply not have enough positions available to justify a training scheme.
This can mean the competition is less intense than on well-publicised graduate programmes, but as there are likely to be fewer positions on offer, you'll still need to work hard to impress!
The other benefit to this alternative process is that you're showing potential employers you can take initiative and that you're genuinely interested in their company rather than just applying because there's a grad scheme available.
By applying directly with your excellent CV and cover letter, you're demonstrating you have the drive and confidence to succeed. You're also able to give more of an impression of your personality this way, rather than going through a relatively generic application process.
Try an internship
Taking a temporary internship at a company you're keen to work for is as good a way as any to further your career, and the great thing about this option is that you don't have to wait until you've graduated to get started.
Many companies are interested in students interning a couple of days a week while they're still studying, and this can be a great way to help you decide your career path once you graduate.
Not only should an internship give you an idea of what the day-to-day responsibilities will be in that specific industry, but it'll also give you a foot in the door once you've graduated. If a job opens up there once you've finished uni, you'll be top of the CV pile. Even if no opportunities arise, it'll still look great on your CV!
If you can't manage to get a placement with the company you're after, apply to another company in the same field and use it as a stepping stone to work out what's expected of you. Doing an internship whilst studying at that company might allow you to fast-track your application to their graduate training scheme later.
A fast-track is when a company sends you straight to the interview stage without an official application.
This normally happens if you've already been affiliated with the company during your degree, perhaps through an internship or something similar. It's also possible to get fast-tracked if you're a very high achieving student, so you best get your head down!
Check out the start-up scene
The startup scene in the UK continues to thrive, and there are loads of reasons to choose a much smaller company (sometimes called an SME/small to medium enterprise) over a larger corporation.
Your experience working for a smaller company is likely to be more personal and less hierarchical. Plus, it's easier to get the chance to prove yourself in a smaller office. You're also likely to get way more responsibility than you would be given in a larger company, which is great experience and means you'll learn a lot – and quickly!
One thing to keep in mind is that smaller companies might not openly advertise graduate roles, so it is important to search for them yourself and apply directly.
Start-ups tend to favour people who think outside of the box, so it can be a good idea to get creative with your CV and how you approach them.
Do a postgrad
Admittedly, at this stage the idea of studying for at least one more year may not be too appealing!
However, doing a postgraduate degree will put you ahead of the competition when you do start applying for jobs, and this is a particularly good option if you're still deciding which direction you'd like to go with your career.
Not only this, but the government now offers loans of up to £10,906 (depending on location) to those wanting to do a Master's, and many unis have offer majorly discounted postgrads to undergrads wanting to progress to Master's level at the same uni.
If the idea of increasing your debts is too much to handle, you can also do a postgrad at one of these great cities in Europe for free (or almost free). Something to consider, especially as they're often taught in English, although watch this space as this could all change after Brexit!
Start your own business
If you're business-minded and have a bit of the entrepreneurial spirit in you, don’t rule out the idea of starting your own company.
Our annual student money survey has shown that 6% of current students make cash working for themselves, suggesting this can be a lucrative option for young people in the UK with bright ideas.
If this is something you think you'd be interested in, try looking into funding that government-backed business schemes offer, or even check with your university, as some will be keen to invest in their alumni.
A popular path that many young entrepreneurs take today is setting up a business or website online due to lower costs and immediate access to a global market or audience. In fact, this is how Save the Student began!
As a side note, don't be afraid of failing with some of your ideas. Whatever happens, you'll learn an incredible amount about yourself and pick up a whole range of new skills to take forward in your career, whatever you decide to do.
Look further afield
If you're really struggling to find something that appeals to you in the UK job market, there's nothing to stop you looking abroad.
If you've got a second language under your belt, your options are extremely broad. But even if you don't, don't let that put you off – or better still, start learning now.
English is an official language in more countries than any other, and even where it isn't, there's bound to be some English-speaking firms. It's just a matter of getting your search on!
Just remember that while a lot of your fellow students might be gunning for graduate training schemes, they're certainly not the be-all and end-all.
Exploring different options is the key to finding the perfect role, so don't be scared to play the field a bit when it comes to your career!
If none of these options appeal to you, taking a year out to figure out what you want to do might be the way forward for you!