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Discover more about the exciting opportunities that apprenticeships can bring to businesses and employees in financial services.
Apprenticeships are being revolutionised. Traditional perceptions of what it means to be an apprentice are being challenged and apprenticeships are now a national priority. Recent Government reforms have put employers at the heart of today’s apprenticeship design, with the apprenticeship levy, which came into effect in April 2017, supporting the UK’s growth in high-quality apprenticeships.
Here at The London Institute of Banking & Finance, we are proud to be developing apprenticeship programmes in close collaboration with employers from across the financial services sector, leading to banking apprenticeships which are highly effective, industry-relevant and open to all.
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Follow our blog series so you can talk confidently to your students about routes to becoming an apprentice.
No. Anyone who is over 16, living in England and at any stage of their career can be an apprentice. There is no upper age limit.
Yes. Apprentices are employed in a real job and paid a salary, exactly the same as any other employee. They have the same employment rights too and, as such, employers are required to issue a contract of employment for each apprentice they take on.
Off-the-job training is defined as learning which is undertaken outside of the normal day-to-day working environment and leads towards the achievement of an apprenticeship. This can include training that is delivered at the apprentice’s normal place of work but must not be delivered as part of his or her normal working duties.
All apprentices must undertake an independent end-point assessment. This is a synoptic assessment of the knowledge, skills and behaviours that have been learnt through the apprenticeship, and normally takes place during the last few months of the programme.
An apprenticeship takes between one and five years to complete and, normally, the higher the level of apprenticeship, the longer it will take. An apprenticeship has to last for a minimum of one year.
Most apprentices stay with their employer after completion of the apprenticeship, with one potential progression route being a further apprenticeship at a higher level.