Finance Apprenticeships

Can you get an apprenticeship in finance?

200% yes. A finance apprenticeship gets you on the career ladder faster in this constantly evolving industry. Working in finance involves managing investments, creating financial strategies, preparing reports, and developing budgets.

As an apprentice you'll work full-time, gain valuable work experience, and earn a qualification. Your time will normally be split between four days on-the-job, with one day at a training centre, college or university. Loads of employers have training on-site. On top of all that, you’re paid a full-time wage (training included!).

Apprenticeships are split into levels and the one you do depends on your age and where you are in your educational journey. These levels are: 

2 (Intermediate). These schemes last 12-18 months and are perfect if you’ve school and need to gain a few more qualifications before A Levels.

3 (Advanced). Lasting two years, this level is the equivalent of two A Levels.

4/5 (Higher). If you’ve finished college or a Level 3, this is the next level up. It’s the equivalent of a foundation degree or higher national diploma (HND). 

6/7 (Degree). These are equivalent to a Bachelor or Master’s degree and a great alternative to university. No student debt!

The great thing is you can specialise. Smaller firms often focus on specific sectors like property or insurance, while larger ones concentrate on commercial and investment banking.

What do you do in a finance apprenticeship?

Finance is big business, and there’s so much you can do within the industry. If you really love working with people or you’re a whizz with computers, there’s an avenue waiting for you.

Here are some apprenticeships that you'll find in the financial services sector:

• Account Assistant

• Credit Controller

• Financial Services Administrator

• Debt Collection Specialist

• Taxation Technician

• Paralegal

• Insurance Professional

• Financial Adviser

• Mortgage Adviser.

Your day-to-day will depend on the apprenticeship you’ve chosen and the level you’re on. Finance isn't just about crunching numbers. You'll also work with cutting-edge tech and tackle projects that’ll really make a mark on your career. Here are some tasks you might take on during your apprenticeship:

• Analysing financial records

• Sending out payroll for an employer

• Bookkeeping

• Budgeting and predicting financial trends

• Managing risks.

So now you know what you could be doing, let’s look at where you could work.

What companies offer finance apprenticeships?

You’re in luck! Whether you’re drawn to global investment banks like Goldman Sachs or community-focused hubs like The Co-operative Bank, there is so much opportunity out there to learn from some of the best in the industry. Here are some of the top employers in the game ready to help you grow your skills:

Wondering what apprenticeship life is really like? Hear directly from students about their day-to-day experiences.

What qualifications do I need for a finance apprenticeship?

Most finance apprenticeships ask for at least five GCSEs at grades A*-C/9-4, including maths and english. For higher or degree apprenticeships in finance, you'll typically need three A Levels or equivalent qualifications.

You’ll need to make sure that your numeracy skills are up to par too. You'll need a B/6 in GCSE Maths, though some employers will take you on with a C/4 grade.

As part of your application, you might have to sit a numerical reasoning test. So make sure you do some practice tests online - many of them are free.

What skills do you need for a finance apprenticeship?

Finance recruiters won't expect you to know everything, but they will test you to make sure you've got the right skills for the job.

You don't need years of work experience under your belt. But if you can weave soft skills you've picked up from school clubs or volunteering into your CV, it'll go a long way. Some of these include;

• Enthusiasm

• Dedication

• Communication

• Leadership

• Organisational skills.

You don’t need to worry too much about the hard skills either, you’ll pick those up during your apprenticeship (especially during a Level 2 and 3 apprenticeship). But there’s nothing wrong with looking into the types of hard skills you’ll find in a finance apprenticeship. Some of these include:

• Financial modelling

• Accounting software (such as Xero, Sage and QuickBooks)

• IT skills

• Knowledge of regulatory standards

• Data analysis.

How much does a finance apprentice earn?

While your salary depends on your level, you'll still get paid the National Minimum Wage. On average, you’ll be paid £25,000 per year. There’s so much potential for your salary to grow the more you develop in your apprenticeship, too. Let’s break that down:

Intermediate (Level 2) - Average salary = £20,000

Advanced (Level 3) - Average salary = £23,000

Higher (Level 4/5) - Average salary = £29,000

Degree (Level 6/7) - Average salary = £30,000

You’re also a full-time employee, so you’ll be entitled to various perks that regular employees have. It all depends on the employer, but this can include healthcare, gym memberships, 25-30 days of holiday per year, shop discounts and travel card loans.

What are ACCA apprenticeships?

ACCA apprenticeships combine professional qualifications with real workplace experience, connecting you to a global community of 233,000 members across 180+ countries.

Options include Level 4 (ACCA's Diploma in Accounting and Business) and Level 7 (Professional accountant), with different pathways for students in England, Scotland and Wales.

After completing your apprenticeship and gaining 36 months of experience, you'll become a fully qualified ACCA member.

How to apply for a finance apprenticeship

Applications for finance apprenticeships usually open in the spring, but it’s 200% worth checking all year round.

Once you’ve found an apprenticeship you love, it’s time to apply. For many of you, this might be your first time applying for a job, so you’ll need to get a CV together and write a cover letter. TOP TIP: Always tailor your CV for each job you apply for; not all apprenticeships look for the same skills. An employer will know if you’ve recycled a CV.

If your CV and cover letter impress, you’ll be invited to an assessment centre where you’ll take part in group activities, numerical and psychometric tests and an interview.

Ready to get on the career ladder? Check out all our application advice, where you'll find everything from creating a standout CV to acing your assessment centre and interviews. Click below to get started.