Year in Industry Student Handbook 2025-26

1. Introduction

Spending a Year in Industry (or placement year) is an exciting opportunity to gain experience and develop new skills while working in a field relevant to your degree studies.

TOP TIP  Keep all these names in mind when browsing for jobs and look out for all the keywords above.

You will also hear and see the programme being called ECN227 Experience in Economics and Finance. This is the official module name SEF has given to the 120 credits of your third year covered by the year in industry.

2. Description

The Year in Industry allows you to spend up to one year working with an appropriate employer.

The employment will usually be offered as part of an employer’s formal placement scheme for students, however, any contract of employment may be accepted, subject to the following minimum criteria:

• The placement should be at least 1,200 hours / 9 months (including holidays) and must take place between the end of your second and the start of third year study. It can also be taken abroad.
• There is evidence to support the relevance of the role for your programme of study at the time the offer is made.
  

When you receive an employment offer, send it to the Placement & Study Abroad Manager (n.hamedi@qmul.ac.uk) as soon as possible to check that it meets all the requirements. No placement can start without the official School's approval.

Aim

The aim of the ECN277 Experience in Economics and Finance module is to provide a route to develop genuine and practical problem solving skills in a professional context. In addition, it will enable students to gain a better understanding of their own abilities, aptitudes, attitudes and employment potential.

Objectives

ECN227 Experience in Economics and Finance will enable you to:

• Make an effective contribution to the workplace and to understand your role and how it relates to the work of the employing organisation;
• Demonstrate the ability to reflect on your experience and to evaluate your performance;
• Develop key employability skills, professional and social, within a workplace environment; 
• Make a clearer connection between theory and practice; 
• Identify, reflect on and plan for your own personal and professional development needs; 
• Develop and improve your technical, transferable and interpersonal skills.

3. Benefits

A year spent on a placement has a number of benefits for participating students, and many return to university with a new sense of purpose, focus and motivation. Benefits include

• Academic benefits

In terms of your studies, your placement year will help you contextualise the learning that you have done in the first two years of study in the workplace. This will ensure that you are enthusiastic about the subject area and will help you adopt a more sophisticated level of understanding to your studies when you return to college for your final year of study. 

• Skills and personal and career development 

• Employability

When it comes to making applications for graduate jobs it helps to have something that makes you stand out as a highly employable candidate combining excellent academic training with an extensive and relevant work experience. Relevant experience and the ability to articulate this is very attractive to employers. In fact, many employers use placements as a way of testing out the potential of candidates for future employment so play your cards right and you may find you get a long term job offer out of it! 

• Increased confidence

Through the process of applying for placements you will also have developed your ability to market yourself effectively and gained practical experience in completing CVs, cover letters, applications and attending interviews – all very useful for when you are applying for graduate jobs. 

• Salary

The rate of pay for placements varies depending on the employer, the nature of their business and the geographical location. However, you will get paid a salary, often at a very competitive rate, so your year in industry can also help ease the financial burden of being a student.

4. Roles and Industries

The finance sector is very broad, so there are various different roles available. Below there are some areas you can consider when looking for a placement, but do not restrict yourself to this list: as long as the placement is relevant to your studies, it will be considered by the School.

If you are not sure if a placement is relevant to your studies, contact the Placement & Study Abroad Manager well in advance of the application deadline.

5. Before the Placement

Making Applications

It is really important that you start working on your applications for placements early in the first semester of Year 2 as lots of companies start recruiting in the autumn and have closing dates before the Christmas break.

There is a huge amount of information about the job-hunting process available online that you can use to help you create a CV, write applications and prepare for interviews. A good place to start is with the resources available through the QM Careers and Enterprise Centre.

You can also book appointments to meet with one of the QM Careers Consultant. To view available booking times, login to your Target Connect account. If there is something we can do to make our services more accessible (i.e. extra time or resources in a specific format), please contact the Careers Information Desk on 020 7882 8533.

Before a placement can start…

You must notify the Placement & Study Abroad Manager of any placement offers you wish to accept. Students should find suitable placements through their own research or contacts and do not have to solely rely on the Placement & Study Abroad Manager or the University for this. However, no student may start a placement without formal approval from the School. On accepting a placement, a student must provide the Placement & Study Abroad Manager with a copy of their contract of employment and the name of a contact in the placement organisation who we can contact if necessary.

Students can only commence on a placement once they have their Yr2 module grades confirmed and they have met the entry criteria for Yr3. The purpose of this is so that we can ensure placement students can seamlessly return and complete their final year of study once they have finished their placement.

What happens if you do not find a placement?

The final cut-off date for finding a placement is the start of your third academic year (September 2025). If you have not secured a suitable placement by this date or if you decide to withdraw from the ‘with year in industry’ degree, please inform the Placement & Study Abroad Manager as soon as possible.

You will then need to transfer to the 3-year Economics and Finance degree by completing a ‘Change of Programme’ form. You must submit this to the ugsefsupport@qmul.ac.uk before the start of the new academic year. You will then complete your final year of studies at Queen Mary.

6. During the Placement

Code of conduct during your placement

• Conduct yourself professionally in all your dealings with your employer and external organisations, remembering that you are representative of the University and any poor conduct may impact on the University’s reputation. 
• Abide by all workplace regulations and practices of your employer, including those relating to Health and Safety, absence management and confidentiality.
• Demonstrate good attendance and punctuality and inform your employer and the University (in this order) immediately if you are unable to attend work.
• Dress and behave appropriately for the workplace.
• Engage with all reasonable opportunities for development during your placement.
• Continue to check your University email account, responding to all communications from your Academic Supervisor, your Placement & Study Abroad Manager and the School promptly.
• Liaise with your Placement & Study Abroad Manager to arrange a suitable time for two workplace visits (or alternative).
• If you are an overseas student, ensure you continue to comply with the Immigration regulations and keep the University up-to-date with your address and contact details.
• Notify the Placement & Study Abroad Manager and your employer of any problems that may prevent successful completion of the placement as soon as possible.
• Complete the 3,000 word report and the presentation by the set deadline (see final page).

Some practicalities to consider when out on placement

There is a lot you can do to make your placement a worthwhile learning experience. Some placements  are well structured and managed but others may lack structure, at least initially. If you want to discuss concerns or suggest changes it is important to be tactful and diplomatic.

On a positive note, tackling problems can be valuable experience in developing interpersonal skills. Even if your placement is not ideal, you will find, on reflection, that you have learned a lot both about yourself and the world of work, management styles, culture, etc. Keeping a positive attitude is important. Remember that how you conduct yourself will affect others and those who work with you will want to enjoy having you in their department. Finally, most students agree that ‘a placement is what you make of it’ and ‘get out as much as you put in’. This may sound clichéd but it is usually very true. 

Whether the placement proves to be superb, good, or not as good as you had hoped, you are certain to come away with some valuable experience for the future. 

Remember your Placement & Study Abroad Manager is available to offer support and guidance at any time.

7. After the Placement

Returning to University

Once you have completed your placement, it is always a nice gesture to write to your Placement employer to thank them and to discuss references.

There will be opportunities to share your experiences and advice with your fellow students thinking about undertaking a placement. Whilst the placement year is exciting, it is also very different to a year of study. You may find it a little disorientating fitting back into university life and settling into a pattern of assignments and exams and leaving the placement behind. We aim to help you with the transition and welcome you back to the University. It is advisable that you make arrangements for accommodation well in advance of your return to University.

Once you have returned to the University, to widen your prospects of professional employment for when you graduate, you should update your CV and LinkedIn account with your relevant work experience gained from your Placement Year.

8. Assessment

The Year in Industry (ECN227 Experience in Economics & Finance) is assessed through a:

1. 3,000 word report (50%), and 
2. Presentation (50%)

TOP TIPBe consistent with your entries and submit them regularly! This short exercise will come in handy when writing your report as you will already have a track of your role and responsibilities during the year.

The employer will provide a written report as well regarding your role and responsibilities at the company at the end of the placement, which will be used as input for the oral assessment process. 

Both the written report and the oral exam will be assessed and the final mark for ECN277 will be Pass or Fail. Therefore, the module doesn't count towards the final degree classification. 

Students who fail to submit the report in time and/or don't attend their presentation will be given a resit opportunity during the August Summer Examination Period. Failure to submit the necessary papers then will result in a fail and students will revert to the three-year version of their degree without the year in industry, provided that all other requirements are satisfied. 

Students who have accepted ECs and don't sit the ECN227 exam in May will be given a first-sit opportunity during the August Summer Examination Period. 

Students who are furloughed or dismissed due to circumstances outside of their control (budget cuts, for example) before you are able to complete the 9 months required for the successful completion of the programme, will be allowed to find a new role midway through the year or retake the year in industry the following year. 

Students who are dismissed from their placement due to misconduct or unprofessional behaviour will NOT be able to start another placement role and will fail the year in industry. They will revert to the three-year version of their degree without the year in industry, provided that all other requirements are satisfied. 

8.1. Written Report

This report will include an outline of the organisation for which you worked, a concise description giving essential details of the work carried out and a description of the relevance of the work to the activities of the particular organisation, details of the main problems you have overcome, and the benefits obtained from the placement. 

You must outline the major project work/tasks you have undertaken. It is important that you are considerate of issues surrounding workplace confidentiality.

Content

• The report should have a clear structure and be divided into sections.
• The structure below is an example of how you may want to organise your text and the questions you should try to answer in each section. You are welcome to design your own format, however, please make sure to include the topics outlined below.

Example Report Structure

1.       Introduction

What are you going to talk about in the report?
How did you find and get the position?

2.       Company overview

What type of business did you work for?
What services do they offer?
What is the industry and how does it work?

3.       Role

What was your role?
How was your team structured?
What project(s) have you worked on? OR: What were your daily responsibilities? OR: How your role and responsibility fitted with the other team/part of the company?

4.       Feedback received

What feedback have you received during the year from your line manager/colleagues?
What were the most difficult learning objectives/goals you were given and how did you meet them?

5.       Conclusion

Feel free to end the report as you wish. Examples of points you may want to touch on are: your feedback on the year in industry programme, the biggest learning you got out of the placement, your plans for your future career, any plans on how to make the most of your final year of study.

Tips for writing a good report:

• During your year in industry, make regular entries on QMPlus about your work and feel free to use them as basis for the report;
• Keep within the word limit
• Your report should have a clear structure and include an introduction, a main body and a conclusion
• The report will be read and graded by two markers who do not know you and do not have any previous knowledge of your year in industry: make sure that everything you write in the report is explained, even when you go into details
• Check your grammar, syntax and spelling – we expect that you will have significantly improved your written communication skills during the year in industry. Therefore, reports that don’t show an excellent proficiency of the English language may lose marks.

Remember:

• A penalty will apply for late submission. Reports submitted late will be penalized by five marks for each 24 hour period or part thereof after the submission date and time, including weekends and bank holidays. An assignment submitted more than 120 hours late will be awarded a mark of zero.
• Reports that exceeds the stated word limit shows a failure to synthesise material and edit the work so as to present arguments/data concisely. This will be noted in the feedback and reflected in the grade awarded.
• All reports will be checked for plagiarism through Turnitin.

8.2. Oral Presentation

You will be required to deliver a 15 minute presentation to two examiners. This will be followed by a question and answer session of approximately 5 minutes. 

Presentation structure

The presentation should be based on the report but also go a bit beyond it. Below are the areas you are encouraged to focus on:

• Company and industry overview;
• Your role;
• One project you’ve worked on during the year;‘Lessons learned’ (think about your personal and professional development);
• Your plans for and approach to your final year of studies (this should include course related planning and ideas as well as any personal aims);
• Your career plans and aspirations.

TOP TIPS for delivering a good presentation

• Keep within the time limit – presentations that go over or under the time limit by more than 2 minutes either way may lose marks;
• Your presentation should have a clear structure and include an introduction, a main body and a conclusion;
• Take the lead and use the tools on your laptop wisely. We will start off with a quick round of introduction and then it will be up to you. If you are using presentation software make sure that the content (text, pictures, graphics) is clearly presented and supports what you are saying.Pace yourself – try not to rush through the content. It’s okay to pause during a presentation;
• Audibility - the audience needs to be able to hear you so make sure you speak clearly and slowly;
• Body language – make eye contact with the audience and avoid turning your back on them. Be conscious of your posture. It is okay to move around and to use your hands when talking but don’t fold your arms or fiddle with a pen or other ‘props’ as this is distracting to the audience;
• Professionalism - remember that you are being assessed. Plan your presentation in advance, check your connection in advance and connect on time. Consider the impression you are making to the audience;
• There is no dress code for the presentation, but perhaps don't show up in your pyjamas!
• And finally – PRACTICE, PRACTICE, PRACTICE! The more you do this the more confident you will be on the day. It is usually obvious to an audience when someone hasn’t prepared well for a presentation so don’t end up being that person!

8.3. Extras

The learning journal on QMPlus will not be part of the assessment but you're highly encouraged to keep one. You will have your own private blog section on this QMPlus page when you start your placement. You will receive a comment on each post within two weeks from posting.  

The purpose of your learning journal is to:

1. Help you keep track of your progress while you are on placement;
2. Serve as a reminder of what you’ve achieved and what challenges you have overcome;
3. Help you to identify strengths and weaknesses and areas for development;
4. Assist you with writing your placement report and describing your professional and personal development

For a learning journal to be useful it needs to be updated regularly and it is recommended that you update your journal every fortnight. You should start your journal within the first two weeks of your placement and keep it updated until a week or so before the report deadline. When you come to write your journal entries it may help to ask yourself some of the following questions:

• What work tasks or work-related activities did you undertake or take part in this week (these might include: independent work tasks, attendance at meetings, client liaison, and so on)?
• What do you consider to be your main achievements this week?
• Are there any areas of your performance that you are less pleased about? If so, what might you do to improve these?
• How well are you meeting any targets you have set yourself or been set by your employer?
• What problems or obstacles did you encounter this week and how did you/or how are you planning to, overcome these?
• What was the outcome of the work you have undertaken this week (has there been any impact from what you have done)?
• What feedback have you received from others (from your supervisor, your team, your clients)?
• How have you used this feedback?
• Have there been any opportunities to apply the learning from your degree to your workplace? If so, how?
• What would you say are the key things you have learned this week (these could be specific skills; an insight into your personal strengths or weaknesses; about working with others; about the business itself, and so on)?
• Is there anything you would do differently if you were to do it again? If so, what and how?
•  Has something that you learned in a previous week had an impact on how you approached a task/situation this week? How?
• Is there anything that you’ve learned from this week that you would like to follow up in the coming week?

The length of each journal entry is likely to vary throughout the year as you will probably find you have more to write about in some weeks than others. What is most important is that each entry is reflective rather than simply descriptive.

9. FAQs

What roles can I apply to and where?
You can apply to any role related to Economics and Finance and your placement can be taken abroad too, as long as it is approved by the School. Below there is a list of fields, but do not feel restricted to it:

• Banking (investment, corporate, retail, etc)
• Asset management
• Marketing
• Professional Financial Services (accountancy, actuarial, insurance)
• Sales & Business Development
• Financial Planning

If you are not sure whether a placement is relevant to your studies or not, contact the Placement and Study Abroad Manager well in advance of the application deadline.

Does the School guarantee a placement?
No, it is your responsibility to secure a placement and the decision to take up a student is entirely taken by the employer, not the School. However, help with your search and your applications will be provided.

What support is provided? 
Both in your first and second year you will take a module in Career and Personal Development (ECN004/ECN005). The first year will give you the foundations of good CV and Cover Letter writing, and all the different application stages usually involved in a job application. In the second year you’ll focus on internships, job hunting strategies, extra-curricular activities, and commercial awareness. You’ll have the opportunity to engage with a wide-ranging set of compulsory and optional activities designed to help you develop a set of desirable transferable skills. The more you engage with these activities, the more chances you’ll have to find a placement.


How long can the placement be? 
Min. 1,200 working hours, max 13 months. 

Will I get paid?
Most placements are paid and sometimes with a very good salary to placement students. We encourage students to take only paid positions (at least National Minimum Wage/London Living Wage). 

What if I don’t find a placement? 
You can revert back to the three-year version of your course at any time (it won’t impact your studies). 

Can I add the year in industry later on during my studies?
Yes, you can do so pretty much at any time in your first and second year. However, we encourage you to switch by the start of your second year so that you don’t risk missing out on communications, activities and events tailored to the placement year.

What's the financial impact of the year in industry?
The majority of placement programmes will pay you a salary, which will be set by the employer. However, we encourage students to accept opportunities that are paid at least London or National Living Wage.

As a student of QMUL you will still have to pay tuition fees, however, these are at a significantly reduced rate.

Fees for a year in industry taken in the UK (2024-25)
Home students: £1,850
International students: £3,700

Fees for a year in industry taken abroad (2024-25)
Home students: £1,850
International students: 50% of the regular tuition fees

How is the placement year assessed?
You will have to write a report regarding your experience and give a presentation; your employer will also provide a short feedback. The year in industry module is a pass/fail module. More information about the assessment is provided here.

What happens if I fail my placement?
Consequences will depend on the reason. Students who fail to submit the report in time and/or don't attend their presentation will be given a resit opportunity during the August Summer Examination Period. Failure to submit the necessary papers then will result in a fail and students will revert to the three-year version of their degree without the year in industry, provided that all other requirements are satisfied. 

Students who have accepted ECs and don't sit the ECN227 exam in May will be given a first-sit opportunity during the August Summer Examination Period. 

Students who are furloughed or dismissed due to circumstances outside of their control (budget cuts, for example) before are able to complete the 9 months required for the successful completion of the programme, will be allowed to find a new role midway through the year or retake the year in industry the following year. 

Students who are dismissed from their placement due to misconduct or unprofessional behaviour will NOT be able to start another placement role and will fail the year in industry. They will revert to the three-year version of their degree without the year in industry, provided that all other requirements are satisfied. 

What is my status during the placement?
During your placement, you will be a full-time employee of the company you are working for, but you will be also enrolled as a full-time student at Queen Mary. As such, you are encouraged to think as yourself as an integral part of the company and make the most of this experience. In case of issues on the workplace, you should try and find a solution with your employer and line manager on your own, but your Placement & Study Abroad Manager is always available to help you out. They will also make contact with you two times during the placement to come and visit you and your line manager, giving you the chance to discuss any potential issue.

Can I only apply for placement schemes?
No! Placements can be called in different ways – “internship”, “sandwich year”, “industrial placement” opportunities are all fine as long they meet the minimum requirement of 1,200 working hours. You can also take a normal job with a fixed-term contract

For further information, please contact:

Senior Tutor and Academic Lead for Year in Industry: Dr. Jojo Paul

Placement & Study Abroad Manager: Nia Hamedi (n.hamedi@qmul.ac.uk)

10. Useful Information

Placements in Europe and the Erasmus Programme

You may be eligible to receive an Erasmus grant if you are undertaking a work placement in Europe as part of your degree. However, participation of the UK in the Erasmus+ programme will depend on the outcome of Brexit negotiations. 

For more information on placements and the Erasmus programme, please:

• visit the Global Opportunities website
• contact goabroad@qmul.ac.uk if you have any queries.

Additional placement support and advice is available from

• Academic Advice Service – it offers confidential advice and representation on a range of academic issues. 
• Advice and Counselling Service - it provides a range of specialist, professional and confidential services to support students with financial, welfare, legal, emotional and psychological issues.
• The Disability and Dyslexia Service (DDS) - it offers support for all students with disabilities, specific learning difficulties and mental health issues at QMUL.
• International Students Resources - it offers international students specific advice on money, immigration and other practical aspects of living and studying in the UK.

The aim of the Economics and Finance Placement Scholarship is to support home students from the School of Economics and Finance with a low household income to take the year in industry programme. The scholarship will cover the full cost of the fee in the academic year that the industrial practice is undertaken (normally year 3 of the academic programme).  The scholarship is open to home students only. More information can be found here

Student status and enrollment

You are still registered as a student while out on placement but will not be required to enroll in person as this can be carried out online.

Tuition Fees

As a registered student you are still required to pay a tuition fee. However, this is at a significantly reduced rate. The current fee for 2024/25 academic year is £1,850 for home students, and £3,700 for overseas students.

Income Tax

The amount of tax you have to pay while on placement will vary according to your ‘personal tax allowance’. If this is not your first job experience, your new employer will ask you to provide a P45 form on commencing your placement, which you will be able to get from your previous employer. Otherwise, if you have never been employed before, you will be asked to complete a tax form. Any queries you have regarding your tax once you have started work should be taken up with your payroll department and/or the local tax office assigned to your organisation.

Do not forget that the Queen Mary Student Advice Service can also advise you on issues relating to student loans, council tax and income tax.

Student Loans/Council Tax

You are still entitled to apply for a student loan during the placement year but the rate you receive will be reduced. As you will retain the status of a full-time student while on placement, you will remain exempt from paying Council Tax.

If you are an International student, you should inform the necessary authorities/ sponsors in your home country that you are starting your placement year where appropriate.

National Insurance Number

If you work in the UK, a National Insurance Number (NINO) is a number unique to you to help your employer pay your National Insurance contributions; no one else can use this number. National Insurance Numbers are free, please do not pay an online service to generate a number for you.

You do not need a National Insurance Number to start work but you will need to get one when you get a job. Some employers think they cannot employ you if you do not have your National Insurance Number, but this is not true. If your employer insists that you get a NINO before starting the placement, place inform your Placement Officer.

When you get your placement you need to call the National Insurance Number Allocation Line on 0845 600 0643 to enquire about getting your permanent National Insurance Number. When you call for your National Insurance Number you need to provide your 

• Full Name

• Date of Birth

• Address

• Postcode

• Date you arrived in the UK

• Confirm whether you are currently employed or not

Also, it is important that you have your passport and visa information to hand, as you will not be able to proceed without them. Depending on your nationality and where your visa was issued, you may be asked to attend an interview. For further information see the website of the UKCISA, The UK Council for International Student Affairs.