Structured graduate programmes
Many graduates like the idea of first embarking upon a structured training programme, as opposed to commencing a standalone role within a company (i.e. a role that isn’t part of a structured graduate programme).
One of the benefits of doing so is that there may be more opportunities to gain a further academic or professional qualification whilst working, with your employer covering the cost. For example, some professional services firms have inbuilt accounting training for graduate programmes where the aim is to qualify as an accountant. Some HR or Marketing graduate programmes also have a built in CIPD (Chartered Institute of Personnel Development) or CIM (Chartered Institute of Marketing) qualification as part of the programme. However, bear in mind that many employers include “claw back” clauses in their employment contracts which mean that employees who voluntarily leave the employer within a certain time frame after completing a qualification may have to repay some or all of the cost of the relevant qualification.
If a specific academic qualification is a requirement before joining a graduate programme, a graduate employer will most likely cover the required tuition fees for you. For example, most large corporate law firms pay the tuition fees plus a basic living allowance to graduates who need to complete prerequisite qualifications such as the Legal Practice Course and Graduate Diploma in Law before commencing their training contracts.
In addition to any formal professional or academic qualifications, companies that offer graduate training programmes are often more likely to have in place a comprehensive range of internal or external training courses for employees of all levels of seniority, covering both technical and soft skills. This means there may be more opportunities to continue your professional development once the programme ends.
Standalone roles
Whilst there are exceptions, in contrast most standalone roles tend to involve a more ad-hoc approach to training, with much of the training being “on the job”. Whether this is better for you is simply a matter of preference. A standalone role may also allow for greater flexibility and freedom, for example by giving you more say over the roles and responsibilities involved in your day-to-day work.
Standalone roles may also better suit you if you are confident on the exact type of role you want. For example, if you are certain that you want to work specifically in digital advertising, joining a boutique agency that only carries out digital advertising work might be preferable to spending two years on a rotational graduate programme that requires you to try out other areas of the business (e.g. operations, human resources, sales etc.). Finally, graduates who have already accumulated a few years of work experience might prefer a standalone role, as entering the structured (and sometimes restrictive) world of graduate programmes might feel like taking a step back.