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Benefits and Challenges of a Finance Apprenticeship

Feeling confuddled about what you could get out of a finance apprenticeship? Never fear! Here’s some clarification on the benefits and challenges they pose.

Benefits of a finance apprenticeship

  • You’ll do the same work as an apprentice that a first year graduate does at the company if you’re doing a Higher Apprenticeship/school leaver programme. Who said anything about a cop out?!
  • You’ll have a support group of other school leavers on the same scheme as you, plus a mentor and colleagues who are there to help you whenever you get stuck.
  • You will get paid! Apprentices with finance companies get paid a salary. Nice.
  • You’ll get to make connections in the industry at an earlier stage than you might if you go through the university route.
  • In fact, you’ll get a lot more hands-on experience in general much earlier on than someone who’s taken the university route!
  • You’ll be able to experience what it’s like to work in the finance industry first hand without having to go from rumours.
  • An apprenticeship will allow for you to study for a professional qualification, or a qualification which would set you up for this after you’ve completed the programme.

Challenges of a finance apprenticeship

  • You will have to manage study alongside your full-time job for an industry qualification, which could be quite tiring at times as you juggle your time commitments and work responsibilities with studies. (But bear in mind that graduates will also do this!)
  • Adapt quickly to a sector you might not know a lot about which could be quite stressful to start off with.
  • You obviously won’t be offered a full-time job as a mandatory part of the apprenticeship. You will have to impress along the way! This means plenty of hard work and perhaps the odd few ups and downs before you complete the programme.

 

By Jos Weale, Editor, AllAboutFinanceCareers.com