# Graduate scheme salary guide UK

> Students & young adults · Last updated 4 July 2026

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## Quick answer

Graduate schemes in UK large employers often start £28,000–£35,000 outside London and £35,000–£45,000 in London — plus pension, bonus and training value beyond base salary.

Graduate scheme intakes compete with direct-entry roles that may offer similar or better pay. Tax, student loan repayments and pension auto-enrolment all reduce take-home pay. This guide compares total packages beyond the headline salary.

## Key facts

- Large graduate employers — finance, consulting, engineering — often £30k+ starting outside London
- London salaries £5k–£15k higher but living costs absorb premium — compare net after rent not headline
- Auto-enrolment pension 3% employer minimum — some schemes pay 8–12% total contributions
- Student loan Plan 5 takes 9% above threshold from month one of employment — budget net pay

## Comparing offers

Include training value, professional exam fees paid by the employer and rotation breadth when comparing offers. A lower salary with funded qualifications may beat a higher base with no development support.

Smaller companies may pay less base salary but offer faster responsibility and earlier pay progression. Consider where you want to be in three years, not just year one.

## Negotiation

Graduate scheme salaries are often fixed across an intake, so negotiation is rare unless you have a competing offer from a similar-tier employer. Use a competing offer as leverage only if it is genuine and verifiable.

Relocation packages for regional moves to London should be checked for tax treatment. Some allowances count as taxable income while others may be exempt.

## First payslip

Check your tax code for BR errors when you start your first graduate job. A P45 from part-time work affects your code and can cause under or overpayment.

Join the workplace pension rather than opting out unless you plan an extremely short tenure. Opting out means losing employer contributions that are effectively free money.

## Frequently asked questions

### Which sectors pay most?

Finance, consulting and technology often lead outside the public sector. Compare total package including pension, bonus and training rather than base salary alone.

### Is London weighting worth it?

Higher gross pay in London is often offset by rent and travel costs. Calculate take-home pay after housing rather than comparing headline salaries.

### When do graduate schemes start hiring?

Many schemes open in autumn for the following year's intake. Apply early for popular programmes as places fill quickly.

## Primary source

https://www.gov.uk/student-jobs-paying-tax

## Related

- [First job money checklist](https://moneyguide.org.uk/students/first-job-money-checklist/)
- [Salary sacrifice explained](https://moneyguide.org.uk/work-earnings/salary-sacrifice-explained/)

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.