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J.P Morgan to Offer Degree Apprenticeships

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Exeter University is the first Russell Group institution to announce a degree apprenticeship, allowing students to earn a salary whilst studying for a degree.

Students on the course will study for just one day a week, with the rest of the time being spent placed in one of J.P Morgan's teams earning £21,000 a year in London or £17,000 in Bournemouth.

After three and a half years, successful students will graduate with an undergraduate degree in Applied Finance, along with two professional qualifications from the Chartered Institute of Securities and Investments (CISI).

Commenting on the announcement, Barnaby Lenon, chair of the Independent Schools Council, said it is fantastic news, adding that it will be a "very attractive offer" for bright and ambitious 18-year-olds.

Professor Janice Kay, provost and senior deputy vice-Chancellor at Exeter, added: "People enrolled on these apprenticeships will gain a qualification from a Russell Group university while simultaneously working for a leading financial firm."

With the new apprenticeship seen as a competitive way to attract the best students, the question is whether other institutions will follow suit in the fear of missing out on good students.

J.P Morgan will pay for the new courses using funds it has paid via the Apprenticeship Levy, which came into force last April.

The levy forces companies with a wage bill of more than £3 billion to pay 0.5% to the Education and Skills Funding Agency, which is part of the Department for Education.

In addition to starting the apprenticeship, J.P Morgan is using the funds to pay for managers to take senior leader MBA apprenticeships, also with Exeter University.