To help work out what you are looking for, it can be useful to create a shopping list of your most important career ingredients, as knowing which elements are important to you will help when you start to navigate the vast and complex job market. Once you have identified these, you should start to consider the types of role that might suit you best, as well as the types of employers that appeal to you the most. Below, I tackle some frequently asked questions and dilemmas that graduates commonly face when trying to work out what types of companies they want to apply to. 

Should I join a structured graduate programme?

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. 

Large versus small employers

What are the main differences between large companies (including global City firms) and smaller companies (including high street or regional firms)? Understanding these can help you identify which types of companies might suit you best.

What do we mean by a “large” employers?

The specific differences between companies of different sizes will vary a great deal, but there are certain characteristics that tend to align with organisations of similar sizes. In this context, by “size”, we generally mean the number of employees in your place of work. A large international firm may have very small offices in certain locations that are run more like small companies, whilst a smaller regional company may have only one office, but employ a large number of people in that office (meaning it could feel more like working at a large international firm). 

What are the typical fundamental differences?

Larger companies tend to have more formal or structured training programmes (discussed above), but may also have a reputation for being slightly more bureaucratic, more hierarchal, and less flexible in terms of the work that is allocated to employees of different levels of seniority. This can result in a general lack of transparency, as well as juniors receiving lower levels of responsibility and less exposure to high quality work. Large corporations can sometimes be slower to implement change than smaller, more agile organisations, which can be frustrating at times, especially in relation to outdated IT systems!

On the plus side, larger companies tend to have in place a strong infrastructure to support employees internally. For example, they often have specific teams that help with day to day administrative tasks such as submitting expenses, organising business travel, and other basic operational requirements. This can help to free up time for employees to focus on the more relevant and commercial aspects of their roles. 

Smaller companies may lack the same levels of administrative support (especially in start-ups or small boutique firms), although you might find you are given more flexibility and scope to work across a diverse range of projects. This could mean that you have opportunities to gain higher levels of exposure to a broader range of tasks and clients, enabling you to learn more in a practical manner and at a quicker rate. This can equip you with a broad range of practical business skills, which is useful if you are interested in one day running your own business.

Many people believe that starting your career at a large, well known company can prove an advantage for the rest of your career, as being successfully employed by a recognised and reputable company may reassure future employers of your employability, which can open your options when you’re looking to move to your next opportunity. There is some truth to this in certain contexts, but it very much depends on the nature of your next move. Larger companies also often pay higher salaries than smaller companies, tend to offer more job security, and provide benefits such as gym access and private health insurance (although this varies wildly across industries).

However, smaller companies might offer equity as part of their compensation packages, as well as greater (and quicker) career progression, which could act as a spring board into a more senior role elsewhere further down the line. The lower levels of bureaucracy and flatter hierarchies that tend to exist in smaller companies, coupled with the fact that you tend to feel less “anonymous” in a small team, are also differences that are worth considering.

Finally, if you really want to travel and work internationally, large corporations may offer more opportunities to do so, including opportunities to work with international clients or in international offices. However, these companies may offer little choice or flexibility in terms of where or when you travel, which could have a big impact on your personal life. For this reason, although frequent international travel can sound glamorous at first, it may not be something you want in the long-run. Also bear in mind that “travel” might mean travelling to other regional offices or client sites in the UK (a far cry from the Cayman Islands!), in some cases for up to 5 days a week (which can be very disruptive).

Graduate intake size

Companies often give an indication as to how many graduates they take on each year. Large or small numbers are not objectively good or bad, but you may want to consider your preference. 

A large graduate intake hopefully indicates that the company has solid procedures in place to help manage the development of the cohort. You would likely assume that this includes comprehensive training courses and adequate resources to manage any issues relating to human resources or professional development. A large graduate intake should also mean that you’ll have access to a wider immediate network of like-minded peers, which can enable you to build personal and professional relationships with a greater number of people, many of whom you’re likely to stay in touch with throughout your career. There may also be a greater variety of – and more investment into - social events, sports clubs and interest clubs. 

However, you might feel more anonymous in a larger intake, and might have a less personalised experience during the training programme. Moreover, allocation to departments or roles may be more of a numbers game, aligning to company needs rather than your preferences (although it’s worth nothing that even with small intakes, business needs generally dictate where graduates are placed).

Being part of a smaller cohort may enable you to build more intimate relationships with your fellow graduates, and get to know everyone that joins at the same time as you. Some people would assume there would be more competition with a smaller intake, with fewer of the most desirable permanent positions available at the end. However, in my experience, there’s no consistent correlation with this.