Theres no such thing as graduate pay! What actually happens is that you will get something called an antedate of seniority to take account of your degree. In practice, this means that you will be pushed about 3 steps up the Ã§ommon salary scale compared to your Sandhurst colleagues who arrive straight from school. In many cases is means that you are paid as a Lt when you arrive in your unit although you will still wear the rank of 2Lt to allow you to make the inevitable mistakes as you learn in the first few months.
I can't remember when the antedate is worked out - for the first few weeks at least you will probably be paid the same as all the others at Sandhurst - but that's OK becasue you won't need much money there anyway!! Once it is all worked out, you will get the rest as backpay.
For a 3 year Bachelors degree you will get 3 years ante-dated seniority, even if its an ordinary pass degree, never mind a 3rd (honours). The degree class does not matter. If you had done a 4 year Masters degree you would get 3.5 years of ante dated seniority. For those going from being a relatively junior soldier i.e. not late entry route, you would get 6 mths ante dated seniority for every year's worth of soldier service (from 1 up to a max of either 3 or 4 years.