In the U.K. you generally have to have done a BA (hons) in animation first (this is usually three years). A Masters Degree can then be done and is typically a year. So the answer is four years (at least in my University).
It depends on a variety of factors including the skill of the animator, the length of the animation, the time needed for editing/post production. If it is one person it will take much longer than if you have a dedicated team of animators and of course it depends if it is 3D animation which involves modeling, texturing, rigging, and animation or 2D animation. Rendering time is also a major factor, it takes months perhaps years depending on the complexity of the project and skill of the producer.
It seems that you are talking about animations used in PowerPoint, which is used to make slideshows and presentations. Here, an animation scheme refers to making objects on a slide to move about in various ways. While a custom animation is a facility you can use to determine how long you would like the animation scheme to go on; i.e. how long will your selected object or textbox move for.
it just depends on what you're drawing. If you draw a short animation about a stick figure it can take an hour or less. If make an animation with a lot of details, it can take weeks, sometimes months to finish. This is why it takes so long for cartoon shows to make another season. You could spend 60 hours on one and it could only last for 30 seconds, so it just depends on how much detail you put into it
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