Lloyds vs Barclays graduate scheme — both are major UK banking employers, but the pay gap between them is the widest of any banking comparison on Debut. The Lloyds Graduate Scheme spreads across 10 tracks and 8 UK hubs at a moderate salary; the Barclays Graduate Scheme pays significantly more, concentrated mostly around Canary Wharf.
Salary: the widest gap in this comparison
Lloyds pays £31,320 on average across most schemes (range £26,482–£37,914), with its Software Engineer scheme reaching £42,000. Every graduate also gets a one-off £5,000 joining payment on top.
Barclays pays £55,000–£62,000 base in London, with total Year 1 pay (including signing bonus) reaching £65,000–£80,000.
| Lloyds | Barclays | |
|---|---|---|
| Average base salary | £31,320 | £55,000–£62,000 |
| Highest-paying track | £42,000 (Software Engineer) | Up to £62,000 base (Markets/IB) |
| Joining bonus | £5,000 one-off | Included in Year 1 total |
| Total Year 1 (top track) | ~£47,000 | £65,000–£80,000 |
Barclays’ base salary alone sits roughly £20,000–£30,000 above Lloyds’ average. Run either figure through Debut’s Paycheck Calculator to see it after tax.
Entry requirements
Lloyds doesn’t require a specific degree discipline — only its technical schemes (Data Science & AI, Data Management, Software Engineer) require a coding/technical assessment at the first stage.
Barclays also doesn’t publish a blanket 2:1 requirement — any degree discipline is accepted, though strong academic performance is expected, and technical Technology roles may ask for a related subject.
Both firms have similarly open degree-classification policies — this isn’t the differentiator here, salary and location are.
Application process: how they actually differ
Lloyds runs three stages: online application (short form, no CV or cover letter, plus a 60-minute online assessment covering audio, written and scenario-based questions) → Job Insight Assessment (scenario questions, a recorded video response, and data to analyse) → Assessment Centre (one-to-one interview, group exercise, individual tasks). Technical schemes swap the first stage for a timed coding task.
Barclays runs a leaner three stages: online application (no CV or cover letter — assessed through the application form and situational questions) → one interview focused on motivation and values → assessment centre. The full process takes 8–12 weeks from submission to offer.
Lloyds’ process front-loads more testing (a full online assessment plus a separate Job Insight Assessment) before reaching interview stage, compared with Barclays’ single interview before the assessment centre.
Programme structure
Lloyds runs 10 live tracks: Accounting & Business Insights, Business and Commercial Banking, Corporate Banking and Markets, Cyber Security Engineer, Data Science and AI, Occupational Psychology, People Science, Product and Partnerships, Risk, and Software Engineer — with a Commercial and Wealth Relationship Management scheme coming soon.
Barclays runs 6 tracks: Investment Banking, Markets, UK Corporate Banking, Private Bank and Wealth Management, Technology, and Internal Audit and Operations.
Lloyds offers noticeably more distinct entry tracks, including some Barclays doesn’t list at all (Occupational Psychology, People Science).
Locations
Lloyds hires across 8 UK hubs: Birmingham, Bristol, Chester, Edinburgh, Halifax, Leeds, London and Manchester, with hybrid working built into most roles (at least 40% on-site).
Barclays is headquartered at Canary Wharf, London, with additional hubs in Glasgow, Northampton and Knutsford — a narrower geographic spread than Lloyds, concentrated more heavily around London.
If working outside London — and having genuine choice of city — matters most, Lloyds’ 8-hub network is considerably wider than Barclays’.
Benefits comparison
Lloyds: a £5,000 joining payment, company-funded private medical cover, free Headspace access, a generous holiday allowance (with the option to buy or sell a week), a Defined Contribution pension matched up to 15%, Sharematch (up to £45/month in matching shares), plus staff discounts across electricals, cinema and groceries.
Barclays: pension via the Barclays Bank UK Retirement Fund, a discretionary annual bonus, private healthcare, life assurance and income protection, a flexible benefits scheme, and ISO45003 certification for workplace mental health and wellbeing.
Lloyds’ package is the more detailed on paper — the joining bonus and matched share scheme are genuine extras Barclays doesn’t list.
Lloyds vs Barclays graduate scheme: which one should you apply to?
If maximum starting salary is the priority, Barclays pays substantially more at every level — its base alone exceeds Lloyds’ total Year 1 pay on most tracks. If you want more scheme variety, a wider choice of UK cities, and strong day-one perks like a £5,000 joining bonus and matched share scheme, Lloyds is the more balanced package even at a lower headline salary.
For the rest of the banking cluster, see Barclays vs HSBC or the full Graduate Scheme hub.
