Santander says graduates no longer need a a 2:1 or higher to work at the bank
Santander said that changing the minimum qualification requirements of its graduate scheme would open the programme up to 64,000 more candidates each year.
Recent graduates will no longer need an upper second or first-class degree from their university to apply for the high street bank’s post-university training scheme.
The Spanish bank Santander’s decision echoes similar moves by other City firms to recognise students and recent graduates who have performed less well academically than some of their peers but might still have plenty to offer.
Last August, accountancy giant PwC said it was removing the requirement for an upper second or higher from its graduate jobs, allowing the business to “assess (the) potential” of candidates rather than simply judging them on academic performance.
Asset manager Schroders also removed the requirement for a 2:1 degree last autumn.
Santander said university performance is not the only indicator of how successful someone might be in the workplace.
Around 16 per cent of students who leave university come out with a 2:2 degree or a third, Santander said.
It will therefore open up to thousands of new potential candidates as applications start later in January.
“Academic achievement is important but it is only one of many factors we look at when searching for new talent,” said Santander human resources director Anouska Ramsay.
“We believe potential can be found anywhere and this move reinforces our commitment to finding the best candidates from a wide range of backgrounds.
“We’ve won awards for our social mobility initiatives and this is an important development to widen our recruitment criteria.
“Those that join us can expect to build a foundation for working in finance and grow their career path within the bank.”