We had no training in place. I was expected to catch up in my own time, which I did but it was hard. This was a NASDAQ/FTSE listed defence contractor.
Main things for me were by the time I left, we were in FPGA and microcontroller territory and mixed mode simulation rather than basic SPICE models etc. You need to look out for major industry trends and get on a community like Element14 [1]. Things have changed since when I graduated with respect to what gaps there will be but there will be gaps.
Looking at some colleagues and their complaints about graduates recently, people seem to want analogue, microwave, transmission line and network experts. I wouldn't know one end of a waveguide from another (I did digital mainly) so I'm not the person to ask :)