If you want to get into banking there’s an alternative route without having to study at an elite university. As banks look to cast the net wider in terms of diversity, they're increasingly offering apprenticeships to school-leavers and don’t require the usual slew of qualifications required to secure an internship. In the UK, level six apprenticeships are graduate level and level seven are Masterslevel. Some banks also offer level three and level four programmes.
Applications are still open for apprenticeships at some banks. Apprenticeships programmes usually kick off in September, with applications for the following year opening in October. It’s a highly competitive process, with a handful of applicants making the final cut in each business area.
Here’s a list of the banks offering apprenticeships and how to apply for them.
Bank of America apprenticeships
Bank of America offers technology apprenticeships within its global banking and markets division.
The programme starts in September 2022, and successful applicants will join one of the bank’s Global Technology teams in a full time role whilst studying for a three year Digital Technology Degree.
Eligibility: EMEA applicants are limited to 1 application per recruitment season. Once your application has been submitted, you will be unable to apply to any additional EMEA programs.
Hold or predicted to achieve at least 3 A levels/BTEC or equivalent with a minimum of 104 UCAS points
Have at least a grade C or 5 in Maths and English Language GCSE (4 will not be accepted) or equivalent
For all details and to apply visit here
Citi’s apprenticeship programs are for school leavers and early career starters interested in working towards a qualification while gaining valuable work experience within a global institution. Citi offers apprenticeships in its Belfast and London offices.
The bank’s apprentice scheme for A-level and equivalent students in Belfast was expanded in 2021 when it recruited 30 apprentices across Operations and Technology from August 2021.
Candidates for London should register with Multiverse and apprentices will work in divisions including securities services, risk, equities technology and operations within its transaction banking unit.
Eligibility criteria – you must be between 16 and 24 years of age, have lived in the UK continuously for the past three years, have not completed a university degree and have GCSE English & maths grade C – A* or equivalent.
Credit Suisse apprenticeships
Credit Suisse offers apprenticeships through its apprenticeships and steps to success programmes.
Aimed at Year 13 school leavers, the bank offers a range of level three and level four apprenticeships across all of its divisions. After a week’s induction, you’ll join your team in your chosen field. For 20% of your working hours you study for your formal qualification with an external training provider. You apply the learning gained through workshops, lectures and coaching sessions to your day-job in real time. The Credit Suisse programme also includes social and philanthropy events, apprentice group projects, a senior speaker series and the opportunity to get involved with the bank’s employee networks.
You can find more details here and a list of open apprenticeship positions at Credit Suisse here.
Eligibility criteria: You must be a recent Year 13 school leaver who has attained A-Level (or equivalent) qualifications, or be currently completing your Year 13 qualifications
Have completed GCSEs, including Mathematics and English with Grades C-A* (4 and above)
Have lived in the UK for at least the last three consecutive years
NB: *Do not apply to more than two Apprenticeship programs
The bank’s Steps to Success scholarship programme offers 4 to 6 week internships for Year 13 school leavers prior to joining university.
Credit Suisse also offers work experience in Capital Markets & Advisory, Sales, Trading & Structuring, or Equity Research
- This consists of a Four-week program during the summer after Year 13, before you start university
- A six-week program in the summer after your first year of university, with the opportunity to join our 10-week Summer Internship in your penultimate year of university
- You Receive a financial scholarship of £9,250 for university tuition fees for every year you're a scholar on the program
For details on how to apply see here.
Deutsche Bank apprenticeships
In the UK, Deutsche offers a Technology Apprenticeship, which is a 18 month programme for school leavers
Eligibility criteria: Candidates must have been living in the EU for the past 3 years. You will be expected to have achieved the following by the start of the programme: GCSE in Maths and English at grades A*-C (4-9) or equivalent, 104 UCAS points from your A-Levels or equivalent qualifications, one of these must be a STEM subject and UCAS points cannot include general studies.
For more information visit here
Goldman Sachs apprenticeships
Goldman Sachs runs two degree Apprentice Programmes for recent school leavers in its Engineering and Global Markets divisions. The programmes last four years and student will study at the Queen Mary University of London.
Engineering Degree Apprentices will work within Goldman Sachs Engineering while studying for a bachelor’s degree in Digital and Technology Solution, with the potential opportunity of a full time position with the firm
The global markets apprenticeship involves working in the Goldman Sachs Global Markets while studying for a degree in Applied Finance, with the potential opportunity of a full time position with the firm
Successful candidates will start in September 2022
Start Date: September 2022
Eligibility: Students looking to start an undergraduate degree in September 2022
Application Deadline: Sunday 6th March 2022
Goldman is also offering a level 7 two-year Master’s Degree Apprenticeship for students looking to pursue a Master’s degree in Digital and Technology solutions from the University of Warwick.
Start Date: September 2022
Location: London & Birmingham
Eligibility: This programme is suited for students looking to pursue a Master’s degree commencing in 2022. Entry requirements for the programme are a minimum 2:2 in a STEM related subject
Application Deadline: Sunday 6th March 2022
Click here for more information on Goldman's apprenticeships.
JP Morgan apprenticeships
JP Morgan launched its financial services apprenticeship in 2013 in Operations and Corporate roles with 24 apprentices in Bournemouth. It runs its programme in partnership with the University of Exeter. In 2020, JPMorgan announced a new apprenticeship programme in the UK for school leavers (post A-level) who want to become investment bankers (ie to work in M&A, equity capital markets, or debt capital markets). This follows the announcement of a front office (ie. client-facing) apprenticeship at JPMorgan in sales and trading in 2019, to supplement the U.S. bank's existing apprenticeships in technology and operations.
JPMorgan's four-year Level 6 Financial Services Apprenticeship programme enables individuals to ‘earn as they learn’, completing a degree BSc (Hons) in Applied Finance from the University of Exeter and gaining two professional qualifications obtained from the Chartered Institute of Securities and Investments (CISI).
Front office investment banking apprentices’ daily tasks and training will include building financial models to support transactions, preparing marketing materials, managing data rooms and transaction documents and responding to queries from clients and potential clients. This mirrors the experience of interns and graduate analysts.
The window for applications for the 2022 recruitment program closed in January and the bank is taking on 100 school leavers. The 2023 programme will open in the autumn of 2022, usually October.
Applicant must have the UCAS equivalence of 3 C grades at A-Level or other qualification with no grade below C.
Morgan Stanley apprenticeships
Morgan Stanley offers school leavers a four year Graduate Apprenticeship in choosing either Software Development BSc (Hons) delivered in partnership with Strathclyde University or Software Engineering BSc (Hons) delivered in partnership with The University of Glasgow, beginning in September 2022.
The bank will support you to achieve your degree through theory-based leaning as well as the opportunity to develop practical skills in IT. During the apprenticeship, you will rotate into different areas of the Technology division, in order to fulfil both your degree requirements and to ensure you have a well-rounded experience. Details on how to apply are here. Morgan Stanley is also understood to offer a wide range of other apprenticeships throughout the year, including in institutional securities (sales and trading), operations and HR.
Location: Glasgow, United Kingdom
Application Deadline: Mar 06, 2022
Eligibility: The pursuance or completion of a minimum of 4 Higher Grades at BBBB including either Computing, Maths or Physics, plus National 5 English.
Standard Chartered apprenticeships
Standard Chartered launched a sales and trading apprenticeship last year and it has now extended the programme to its corporate banking unit in an attempt to increase the number of people it recruits from lower socio-economic backgrounds.
Standard Chartered is a UK bank with an Asian and emerging markets focus. It invites applications from people with no academic qualifications. Four students will be taken on for a two-year training programme within its corporate bank after six recruits were hired for its investment banking apprenticeship last year. They are offered a full-time role at Standard Chartered upon completion of the apprenticeship.
There are two programmes.
The Financial Markets apprenticeship is a 3-year programme combining external learning with on-the-desk training. This apprenticeship consists of a 9-month Foundation Programme followed by the Level 6 Financial Services Professional Apprenticeship, gaining qualifications from the Chartered Institute of Securities and Investments (CISI).
The Client Coverage Programme is a newly launched 2-year programme that offers experience of working with some of the most influential local and global corporates. The programme includes the Level 4 Investment Operations Specialist Apprenticeship and the CISI Investment Operations Certificate (CISI).
Register here for the virtual open evening on March 3. Vacancies close: Friday 11 March 2022
UBS offers a range of apprenticeships, from school leaver to degree apprenticeships as well as advanced apprenticeships.
UBS's degree apprenticeships are carried out in partnership with the University of Exeter, As an apprentice, 20% of your working hours will be dedicated to an element of learning. As a registered student with the University of Exeter, you will have full access to the university’s academic resources.
UBS offers two degree apprenticeships; a Bachelor of Science (BSc) Applied Finance or Digital & Technology Solutions Degree. You will gain a number of industry recognized qualifications throughout your program and be awarded your degree at the end of your fourth year.
UBS hire apprentices once a year, and the programs begin in September. You can only apply to one business area program per year, so do your research and choose the right path for you.
The selection process consists of a online application, online assessment, video interview and final assessment day. For details of how to apply visit here and scroll down to the How We Hire section.
Meanwhile, UBS’s advanced apprenticeships typically range from 15 to 18 months and provide school leavers with industry-recognised qualifications to start their career.
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