What are banking and finance apprenticeships?

banking and finance apprenticeshipsThere are lots of different opportunities and career paths in banking and finance. Apprenticeships offer a way to start your career in finance by combining real work with training. So what sort of banking and finance apprenticeships are out there? 

What is banking and finance?

Banking and finance jobs deal with money. Your role in this type of work would normally involve providing financial services to individuals or businesses. The types of jobs available can include positions with high street banks, such as being a cashier or a telephone advisor, where you might help the general public with their savings, loans and mortgages. Or you might work in an investment bank, helping organisations with their profits by investing their money in the stock market, or helping them to buy, sell or merge their business.

Banking and finance apprenticeships

You could get a banking and finance apprenticeship as a step towards becoming:

• A bank manager – running a bank branch
• A corporate financial advisor – helping businesses to manage their finances
• A stockbroker or trader – helping businesses to go public on the stock market

Banking and finance apprenticeships can be a great option if you are:

• Good with numbers
• Enjoy working with other people
• Like to learn about new products and offers

You don’t have to be a maths expert to get on to a banking and finance apprenticeship but having an interest in finance and how money works will help.

Where do I go to find a banking or finance apprenticeship?

Most of the bigger banks and building societies like Lloyds, HSBC, Barclays, Santander and Nationwide offer banking or finance apprenticeships. Take a look at their websites to see what’s available.

What does a banking or finance apprenticeship involve?

You can usually complete a banking apprenticeship in three or four years. For most banking and finance apprenticeships, you’ll need at least 4 A-C grade GCSEs, including English and maths.

What skills and training will I get?

With a banking or finance apprenticeship, you’ll get real-life banking work experience, so you can learn how to:

• Give advice on financial products like loans, credit cards and mortgages
• Look after customers and make sure they get the best advice
• Manage a team
• Give advice to businesses on what bank accounts or other products will best fit their needs

Banks offer training programmes that will help you to learn about making investments and working with clients. This kind of in-house training will introduce you to business practices, banking services and dealing with clients.

Most of the banking apprenticeships in the UK are higher level apprenticeships, so they’re not about training to work behind the bank tills serving customers.

A finance higher apprenticeship will give you the skills you’ll need to be a branch manager or a business relationship manager, so you can enter the world of finance at a more senior level.

What does a bank manager do?

Being a bank manager isn’t just about being good with money or figures. You also need to be good with people and be friendly, approachable and organised.

A bank manager:

• Runs the branch and takes care of the staff who work there
• Makes sure customers get good service and are satisfied

What does a business relationship manager do?

A business relationship, or commercial manager, looks after a bank’s business clients. These can range from small local businesses to global organisations.

You’ll learn about all the different products a bank or building society offers – from credit cards to loans and how you can make these products work well for the clients and businesses you are representing.

A business relationship or commercial manager:

• Manages client/commercial relationships
• Knows about different banking products and gives advice on which products are best
• Is organised and a good communicator

Other apprenticeships in banking and finance

Apprenticeships are also available in investment banking, stockbroking and trading:

• Investment banker – help people and businesses to make calculated decisions when investing money
• Stockbrokers and traders – allow people to buy and sell shares on the stock market

Find out more

Want to discover more about jobs in banking and finance? Why not take a look at our career videos?