National Apprenticeship Week raises awareness of what apprenticeships are and the advantages of doing one. It is also an opportunity to celebrate the hard work and accomplishments of apprentices and what they bring to their industry.
This year, the theme of National Apprenticeship Week is skills for life. We take a look at how doing an apprenticeship in banking and finance can give you the skills to kickstart your career in the sector.
Why should you do an apprenticeship?
After finishing college or sixth form, typically thoughts then turn to university. But while completing a degree can open great opportunities for you, it’s not your only option for a fulfilling career.
Doing an apprenticeship has various benefits. Not only will you complete a qualification, but you will have the chance to work and receive training at the same time, whilst being paid a salary.
This allows you to put everything you learn into practice right away. As part of your apprenticeship, you will also have designated study time within your working week.
How does an apprenticeship work?
There are different types of apprenticeships available, such as:
- intermediate apprenticeships (level 2)
- advanced apprenticeships (level 3)
- higher apprenticeships (level 4 and 5)
- degree apprenticeships (level 6 and 7).
This means you can choose one that is tailored to your needs and work at your own pace. Getting exposure to the workplace means you will quickly learn what you enjoy about your role, where your skills lie, as well as areas you need to improve on.
It will also give you an insight into whether your chosen sector is one you want to pursue a career in or whether you want a different career path.
Banking and finance apprenticeships
If you’re interested in a banking and finance career but unsure about doing a degree, an apprenticeship could be the perfect alternative.
Banking apprenticeships are typically offered by retail banks such as:
- NatWest Group
- Lloyds Banking Group
If you’re looking for something different, you could also look at which financial services firms offer apprenticeships.
Doing a banking apprenticeship will allow you to work in different areas of banking and gain valuable customer facing experience. It will also allow you to develop your skill set and may give you an idea of what area of banking you’d like to work in, once you complete your apprenticeship.
Another key benefit of doing an apprenticeship in the banking and finance sector is that it provides you with networking opportunities. This means you can build connections that will help you throughout your career and engage with and learn from experts in your field. You could also find a mentor who can guide you throughout your career.
Once you finish your apprenticeship, you may even have the opportunity to stay at your company and progress into a new role. In 2022, gov.uk reported that 91% of apprentices went on to find employment after completing their apprenticeships.
The practical experience you gain could also give you an advantage over your peers, in terms of job security. You can apply the skills and knowledge you’ve developed to future roles, as you progress throughout your career.
Find out more about our apprenticeship programmes