What is the best way(s) to approach job applications as a graduate?

Hi there! Apologies for the delay.
Even though I am not a graduate yet, I have asked around and here's my colleague's answer.

"The best way to approach job applications as a graduate is to treat it as a numbers game: apply for as many schemes/roles as possible to secure at least some interviews, and accept that your initial applications or even your initial interviews won’t always go how you want them to. However, these will provide invaluable practise and experience for later interviews and you will find your confidence and performance in interviews improving exponentially.

Let’s look at the different stages in order and how you can optimise your performance in them:

Actually applying requires writing a cover letter (or sometimes motivation questions only) and providing a CV. Have a core cover letter template that you constantly refine  and you can adapt this to the company, role, sector and industry you are applying for. This can even be adapted for the motivation questions and gives you a document to reference when typing the motivation answers up. The same goes for your CV  have a core template that you refine according to the industry. I generally change only the personal summary to match the industry. I have over a hundred cover letters and CVs saved but all of them are based on a single version that I am constantly refining and then adapting accordingly. Note: Cover letter should be one page long at most, and it should be concise. A CV in the UK can be two pages long, but don’t pad it with information.

Next, many companies have a pre-screening system whereby your application is only looked at properly (despite asking for your CV and motivations) AFTER you sit the psychometric tests. These tests get easier with practise, to the point where you can do them confidently one after the other. In general, written and mental arithmetic is essential in life, and by refining it in the numerical tests through practise, you will find it improve dramatically. This will, in turn, help you in the logic tests (pattern recognition). Don’t doubt your learning ability and don’t shy away from the tests. With continued practise and experience, you will essentially guarantee yourself a pre-recorded video interview or a telephone interview.

This is where you need to shine  practise makes perfect. Adopt the STAR approach: Situation you found yourself in, the Task you had to complete, the Approach you took and the Result of it all. Up until this point, your knowledge of the company and the role could have been superficial but for the interview stages, it is important to research the company extensively. At the same time, don’t lie about your knowledge  ask the interviewer if they have any doubts or areas for you to elaborate on at the END of the interview and address these concerns. E.g. Whilst my knowledge of financial markets may not be overtly technical, I am reading up heavily on them, such as through the FT, and I have a great core understanding. I have a genuine passion for the markets and a commitment to learning about them, so I am greatly interested in your graduate scheme.

If you get even one interview for every 10 applications, then 100 applications will get you 10 interviews (provided you constantly refine your CV and cover letter and practise the psychometric tests). Every interview = STAR approach + integrity. You will get better and better and eventually secure a graduate role."