Economics graduates - jobs and graduate schemes

[Munichfam5]

Please can anyone advise me on which graduate schemes my son can apply for as he graduates from his Economics degree this summer ?

Any advice appreciated TIA

Big4, civil service, finance/banking etc. What’s he wanting to do?

A relative got a graduate job with the Bank of England. They funded his Masters too.

Thanks for your responses
he thinks he wants to do accountancy

It’s a bit late for the bank graduate schemes as they generally give their offers one year in advance ( so 2022 for 2023).. a couple do off cycle ( 6month late start) but with a much smaller cohort. Ask him to look at the careers pages of all the big banks if he is interested.
if he’s interested in accounting then the big 4 are the obvious choices. Why does he need you to poke him?

Without being funny, if he needs you to nudge him to apply for accountancy jobs, he is going to struggle. Does he realise that a typical graduate will start work on 1 Sept, will start intensive exam training in mid September and sit their first 2 exams 4 weeks later? If you fail to knuckle down you're out.

@Munichfam5
He is a bit late for early closing jobs but not others. He needs to see his careers university office, brush up his cv and get applying! Has he done any paid or voluntary work? Where does he want to work? I think he needs to do some research and see what’s out there.

He's left it all a bit late. Any idea why?

With Economics, it is important to join some kind of graduate scheme (the kind that gives you 2 years of training).

My DD did Economics and was keen to work in the charity sector. One of our friends is a senior executive in a top international bank, and told her categorically to do her two years of additional training.

DD is 18 months into an economist position within the civil service. She has recently been promoted to senior economist. She is embracing the training rotations.

@CraftyGin
The Civil Service keep pausing recruitment. It’s hugely competitive unless you are Oxbridge or a few others. If the DS is at elite university, it’s odd he hasn’t applied for anything as the applications chatter is usually full on! The Charity sector might be easier to get into!

Also he doesn’t have to be an economist. Lots of people do a degree then go off at a tangent with no further training. Perfectly possible if that makes him happy. However to be an accountant you need a training position. He just needs to look but I would take any job right now if all the most suitable ones are closed. Then apply with work experience. Something is always better than nothing.

Tell him to Google the top 10 accountancy firms initially and look for graduate trainee schemes on their websites. As pp have stated he has left it late for this September. RSM are one company that also recruit for January starts so they will probably still be advertising. Then after top 10, go through the next ones.

And also tell him to look on gradcracker website for graduate trainee jobs

There won’t be top 10 accountancy firm traineeships this late, surely? However we use smaller regional accountants and they train employees. Not everyone will get to top 10 with no internship previously. So look much smaller or wait a year.

Myth busting 1) The vast majority of successful applicants to the Big 4 haven't done an internship either with their chosen firm or elsewhere. Typically only around 20%.

Myth busting 2) The Big 4 have intakes starting in Sept, Jan and April, depending on which schemes you join.

Myth busting 3) You don't necessarily have to get a place on a grad scheme with mid tier firms. There are different routes to qualification.

Myth busting 4) Not all accountants are ICAEW. You can also train as ACCA or CIMA or ICAS. AAT level 4 apprenticeships may also be on offer which also give you a route into the L7 qualifications.