Key terms to understand before applying for graduate roles

25 August 2026

 

Types of programme 

Graduate Schemes 

Structured programmes lasting 1–3 years that typically include formal training, mentoring and sometimes rotations across different teams. Most have fixed annual recruitment cycles and start dates between July and October.  

Graduate Jobs / Entry-Level Roles 

Permanent roles that may be advertised as Graduate, Junior, Analyst or Trainee positions. These opportunities are often recruited for throughout the year to meet immediate business needs and can provide excellent training and development.  

Internship 

A short-term work opportunity, typically 8-12 weeks, often over summer. 

Placement  

Integrated work experience during a university degree, usually lasting one year. 

Off-Cycle Internship 

An internship occurring outside the standard summer or winter periods. 

Vacation Scheme  

Structured work experience placement specifically within law firms, lasting 1-4 weeks. 

Spring Week 

A one-week introductory programme for first-year students to experience a firm. 

Insight Programme 

A short introduction to a company, open to students at any university stage. 

 

Finance role titles  

Analyst 

Entry-level role involving data analysis, research and support. 

Associate 

A step up from analyst, involving more responsibility and project management. 

Trainee 

A position focused on learning specific skills, often on the path to qualification (e.g. in accounting). 

 

Selection process  

Assessment Centre 

A full day of group and individual exercises to evaluate key skills. 

Assessment Day 

A concentrated period of interviews and tests used in the recruitment process. 

Fast Track 

An expedited application or interview process for high-potential candidates. 

 

Visa & sponsorship  

Sponsor License 

An official permission granted to an employer by the UK Home Office to sponsor visa applications.