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Investment bank JP Morgan has teamed up with the University of Exeter to offer a new apprenticeship scheme in the UK.

The new three and a half year degree level apprenticeships from JP Morgan and the Russell Group Exeter Uni will induct new recruits in all aspects of the financial services industry and are to be funded by the government’s Apprenticeship Levy.

The first apprentices on the new scheme will start in September/October 2019, with the programme initially on offer at JP Morgan’s bases in London and Bournemouth.

The London apprenticeship will pay £21,000 whilst the Bournemouth scheme will pay £17,000. The new JP Morgan apprentices will study for just one day a week at the University of Exeter, and, upon completion of the scheme, will emerge with degree in Applied Finance.

Applications for the new apprenticeship scheme will open next month, with up to 70 places on offer and entry requirements of three Cs or above at A’ Level (or equivalent qualifications).

Announcing the new programme, JP Morgan’s executive director, Phillip Paige, said: “We see this as a game-changer. Many of our apprentices have told us that they would like to receive a degree and this is an opportunity for us to give a diverse group of people the benefit of an Exeter University education.”

Senior deputy vice-chancellor at Exeter University, Professor Janice Kay, also commented, saying: “We are delighted to sign this agreement with JP Morgan. Through this groundbreaking partnership, people enrolled on these apprenticeships will gain a qualification from a Russell Group university while simultaneously working for a leading financial firm.”

Welcoming the news, Education Secretary Damian Hinds, said: “This kind of collaboration underlines the value of high quality technical education not just to individuals but to employers as well. Degree and degree level apprenticeships mean leading businesses and universities can come together and design innovative programmes to give people the skills employers really need.”

“It’s great to see a global business like JP Morgan getting involved like this and I would urge others to follow their lead,” added Mr Hinds.

If financial services sounds like a sector you would enjoy as a career then find out all about how you can get started on a Banking Apprenticeship today.