How important are grades for vac schemes and training contracts?

There's really little information provided here for anyone to determine your chances. Even if we had a detailed CV, it's still difficult to conclusively say because a lot of the 'success factors' that go into a successful application go beyond your CV. A well written application, for example, plays a huge part.

For most firms, grades set the 'minimum' required for any hopeful applicant. So you'll normally need a 2:1 average or above to have a decent shot at applying for vacation schemes and training contracts. If your grades are better than the minimum 2:1, it'll help your application but it will not be as decisive as compared to an applicant with a 2:2 being considered alongside an applicant with a 2:1.
 
My friend secured a training contract at a top firm with a 2:2. He has very good work experience and is an excellent communicator so I guess he stood out.

I averaged a 2:1 in my first and third year and graduated with 2:1 (62%) but I have a 2:2 in my second year. I am still able to make it past the application stage at many international city firms.

The moral of the story is that grades are not the be-all and the end-all for every firm.
 
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I’m a bit worried about my alevel grading being branded as “poor” .However , I am set to achieve a first in my degree overall ..should I be worried about being declined in city firms for a training contract