Investment bank J.P. Morgan will soon offer school leavers a fast-track route to a lucrative investment banking job, namely via one of its UK apprenticeships.
The bank’s so-called four-year Level 6 Financial Services Apprenticeship programme will enable individuals to ‘earn as they learn’, provided they complete a degree in Applied Finance at the University of Exeter and gain two professional qualifications from the Chartered Institute of Securities and Investments (CISI).
So far, this program was limited to to technology and finance jobs, but the bank confirmed that individuals undertaking this apprenticeship program will soon be able to progress to a role within an investment banking front office team, focusing on mergers & acquisitions, debt capital markets or equity capital markets.
J.P. Morgan currently takes on approximately 70 apprentices per year via its existing financial services and technology degree apprenticeship programmes in Bournemouth, Glasgow and London.
From next year it is expanding its apprenticeships to bring the annual total of school leaver apprentice places to around 120.
The first batch of individuals to take the new front office investment banking apprenticeship route will begin in January 2021.
Candidates will be recruited from the existing crop of financial services apprentices and alumni currently working in the operations and corporate departments at the firm.
“This is a bespoke programme and reflects what we’re doing on the markets side of J.P. Morgan, where we have run a front office trading apprenticeship programme since 2019,” said Phill Paige, executive director and UK early years careers lead at the bank.
Front office investment banking apprentices’ daily tasks and training will include building financial models to support transactions, preparing marketing materials, managing data rooms and transaction documents and responding to queries from clients and potential clients. This mirrors the experience of interns and graduate analysts, the bank clarified.