Banking apprenticeships are becoming a very popular option for people leaving school and college, with most large national and international banks now offering competitive apprenticeship programmes. And, from a Labour Market perspective, it’s a great industry to be in! Every person and business requires a bank account so there is certainly a demand for professionals within this industry.
However, there are so many more job roles within banking that you may not have thought about. From Cyber Technology to Marketing/Creative roles, there is something for everyone in Banking. Within this blog, we will explore what an apprenticeship in Banking may look like.
When looking at current vacancies (current being January 2022), there are roles advertised for:
As you can see, there is not one set pathway that you have to follow to create a successful career within the Banking industry. The above roles are all different departments and apprenticeship levels. Read on to find out when you would access each of the different levels.
Levels of apprenticeships
You can start an apprenticeship at any point in your career, but the common starting points are either when you leave Year 11 or Year 13. When leaving at Year 11, you can access Level 3 apprenticeships, which are also known as an advanced apprenticeship. On the job advert, the employer will tell you what GCSE grades you need to access the apprenticeship.
If you are looking at completing an apprenticeship at the end of Year 13, this means you will have spent the last 2 years completing your Level 3 qualifications. This may be A Levels, a T Level or a Btec qualification. As you have your Level 3 qualifications, you can access Level 4 or 5 apprenticeships (known as higher level). If you have achieved good grades at Level 3, you can also progress straight onto a Level 6 apprenticeship (known as degree level).
Areas of apprenticeships
There are a wide range of apprenticeships that will lead you to different job roles within the banking industry. The best way to decide which one is right for you is to complete work experience. This will allow you to gain experience, which will look great on your CV, apprenticeship or university application.
In addition to this, work experience will also allow you to see the different jobs in action. This will give you an understanding of the different day to day duties of each person so you can make an informed decision on where your skills, experience and personal qualities will best fit within a finance department.
Remember, just because these apprenticeships in different job roles exist, it doesn’t mean they will be available when you are looking. In order to find a current apprenticeship, you have to have an employer with a vacancy who is willing to link with a training provider. You work at the employer 80% of the time and spend 20% of the time working on theory work set by your training provider.
Where to find apprenticeships
You can find apprenticeships by applying through a job board, such as Not Going to Uni, directly on the company website or through a training provider. If you are looking at level 3 apprenticeships, the training provider is likely to be your local college. If you are looking at higher and degree level apprenticeships then the training provider will be a university.
One of the key concerns for young people when looking at apprenticeship options is finding opportunities. It is true that the number of apprenticeship starts fell in 2019/20 due to the impact of the coronavirus pandemic from March 2020. The pandemic and lockdown period saw a disproportionate negative impact on apprenticeship starts for those aged under 19, and those starting an intermediate level apprenticeships. 23,400 fewer people were participating in an apprenticeship in 2019/20 than in 2018/19.
However, it is worth noting that in 2019/20, there were 719,000 people participating in an apprenticeship in England, with 322,500 apprenticeship starts and 146,900 apprenticeship achievements. 81% of all apprenticeship starts were in four subject areas: Business, Administration and Law; Health, Public Services and Care; Engineering and Manufacturing Technologies and Retail & Commercial Enterprise
How to expand your apprenticeship search
Here are some key ways that you can expand your chances of success when looking for a Finance apprenticeship:
Check out our current banking apprenticeships here. Best of luck in your search!
