“Degree apprenticeships: a new pathway into the UK investment banking industry?”

What the paper says

Purpose This study explores UK-based banks' recruitment through higher and degree apprenticeships using unobtrusive, publicly available data sources. It addresses four key questions: identifying banks recruiting apprentices, apprenticeship standards adopted, entrance criteria and salary levels and associated learning providers. This exploratory work aims to inform future primary research directions. Design/methodology/approach This qualitative study utilises inductive content analysis of recruitment advertisements, combined with governmental datasets from the Department for Education (DfE) and the Institute of Apprentices and Technical Education (IfATE). Additionally, a literature review contextualises the economic and policy drivers of apprenticeships within the UK. The study exclusively uses publicly available data, ensuring unobtrusive research methods. Findings The research identified 13 large UK-based banks actively recruiting apprentices, primarily in ICT and Finance. Several apprenticeship standards were found, predominantly delivered by two major UK universities. Higher and degree apprenticeships are increasingly significant as alternate pathways into banking careers, emphasising ICT and soft skills as essential competencies within financial services. However, structured data on employers and adopted standards are limited, and advertisements often omit details about learning providers. Research limitations/implications Identifying employer adaptation of apprenticeship standards is original because of the unavailability of structured data. A key limitation to the research was that only web-based searches were conducted, and further primary research can provide a more detailed overview. Additional research findings can contribute to the development improved collaborative practices between stakeholders. Practical implications The study was performed using unobtrusive data from the Internet and limited to publicly visible information. The study warrants further primary research. Social implications This paper can further enhance opportunities for school leavers who wish to enter the banking profession through a non-traditional route and can contribute to social mobility issues. Findings can contribute to further enhancing the delivery of Higher apprenticeships. Originality/value Identifying employer adoption of apprenticeship standards is original because of the unavailability of structured data. A key limitation to the research was that only web-based searches were conducted, and further primary research can provide a more detailed overview. Additional research findings can contribute to the development of improved collaborative practices between stakeholders.