How can I change my visa from Student to Working?

I am studying in London, and I was wondering if anyone knew the circumstances for this procedure. Important: must I be graduated to make this change? I heard that your new job is supposed to sponsor you?..... What do you guys know about this?

Answer:
I don't think you have it changed, you have it replaced.

In the US, you would have to have an employer sponsor you while you apply for the VISA.
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