The first step is getting your CV to their recruiters. You can do this by applying directly or by contacting a recruiter/getting headhunted. You will then receive a phone call discussing the scheme and the requirements. If this all goes well, you will be invited to complete a video interview.
The video interview is not too difficult at all. They are looking to see if you have some of the core skills they are looking for and if you do, you will be moved onto the next step. Personally, I believe I did pretty bad in this but some of my achievements stuck out to them and I believe it was because of this I got moved to the next step.
The next step is an assessment centre. This typically starts around 8 AM and finishes around 4 PM depending on how quickly the cohort gets through the day. The day is split into two halves, the first half for me was the assessments - these were numerical reasoning, verbal reasoning and logic based. The second half is comprised of (I think) three interviews with different members of the FDM team asking strength-based questions - these are fairly easy. Overall the assessment centre is not too difficult. The practice content they provide you with may or may not prepare you for these tests depending on your background. Some members from my cohort found some of the tests more difficult but it all depends on your background and existing knowledge. For example if you completed a maths degree or have a significant maths background, the numerical reasoning test should be really easy for you.
Once you have passed the assessment centre, you are then eligible to work for one of their clients. At this point you have a guaranteed job anywhere in the UK - keep in mind that you cannot decline the job/client you are placed at.
You may get invited onto a driven programme providing you can complete an online test. The driven programmes are for some of their more prestigious clients such as HSBC, Lloyds, Macquaries and Morgan Stanley.
Things you need to be aware of:
1. You are locked in for two years and if you leave before this, you will be liable to pay upto £20,000 in training costs.
2. If you receive a typical offer from them, you will be required to relocate anywhere in the UK based on who they place you with. (unless specifically stated, expect to be geographically flexible)
I have marked this as "Yes, but I declined" since I am awaiting feedback from the driven programme and my decision will be based on this.