Everything You Need to Know About Finance Apprenticeships

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Are you looking for a career in finance?

Have you considered a finance apprenticeship?

With an average salary of £49,700, you’re making a wise choice!

Here is how a finance apprenticeship can get you on the tracks to a successful, lucrative career in finance.

What is a finance career?

Before you dive into this exciting industry, it is important to understand what finance actually is.

Here is what you need to know:

Finance is a broad field of money management, investments and financial resources. This means that finance deals with all the decision making and management of money, including how to raise funds for a business/individual, reaching financial goals and making wise investments.

You might think finance is all about working with businesses and corporations, but there are actually many fields of finance.

Here are some financial fields you could work in:

Personal finance
Corporate finance
Public finance
Investment finance
Financial markets
Banking
Risk management
International finance

Can you get an apprenticeship in finance?

Yes! You can get your foot in the door of this exciting, lucrative industry with a financial apprenticeship and gain a qualification alongside over a year's worth of experience in the field.

Why do an apprenticeship in finance?

UK apprenticeship programmes offer an internationally recognised qualification alongside valuable work experience, which can often be more appealing to employers than a traditional degree.

When working alongside experienced colleagues, you get hands-on experience to ensure you can work on challenging projects, make critical financial decisions, and contribute directly to a company's success.

The financial industry is also known for its competitive salaries, and an apprenticeship means you can start earning while you learn, avoiding the burden of student loans.

Also, the potential for career growth in finance is substantial. With experience, you can move into more specialised roles, take on leadership positions, or even transition to related fields.

How much is the average finance salary in the UK?

And if all the perks listed above weren’t enough, the average finance salary in the UK is £49,700! A whopping £16,700 more than the average salary across all fields in the UK.

What is the average salary for a finance apprentice?

During your first year of training, starting salaries for apprenticeships are £4.30 per hour. However, employers may choose to pay apprentices above average to attract good candidates, especially if you are an older candidate or have more qualifications or experience to support your passion for the role.

After the first year, you are entitled to the minimum wage that applies to your age

bracket. However, your employer may choose to pay you more.

What you’ll do as a finance apprentice

Here are some common tasks and duties you can expect during your role as a finance apprentice:

Advanced financial analysis
Budgeting and forecasting
Risk management
Utilising financial software
Financial reporting and compliance
Support for investment decisions
Collaboration and communication
Continuing education and professional development
Coursework

What can you do with a finance apprenticeship?

What roles can you pursue upon completing your finance apprenticeship? Here are a few exciting avenues:

Financial Analyst
Accountant
Budget Analyst
Risk Manager
Investment Banking
Financial Planner
Corporate Finance
Treasury Analyst
Auditor
Financial Controller
Financial Consultant
Certified Public Accountant (CPA)
Chartered Financial Analyst (CFA)
Financial Educator
Entrepreneur

What A-Levels do you need for a finance apprenticeship?

Depending on your apprenticeship level, you don’t need A-Levels as part of the entry requirements. However, some employers may have their own requirements, and may favour apprentices who have A-Levels such as Maths, Business or Finance.

The most important thing is to make sure you have your Maths and English GCSEs.

What is the difference between accounting and finance apprenticeships?

The main difference between accounting and finance apprenticeships is in their focus and tasks:

Accounting apprenticeships are more about keeping accurate financial records and compliance with rules and regulations. Accountants manage transactions, taxes, and financial statements. They typically deal with organising past financial decisions.

Finance apprenticeships are about making financial decisions and managing money to help a business grow. Finance professionals analyse data, plan budgets, invest, and assess risks to guide strategic financial choices. They typically deal with organising future financial decisions.

Who is the best finance apprenticeship provider?

With over 30 year’s of experience in providing apprenticeships, Total People have become the largest provider of apprenticeships and work-based learning in the North West of England.

If you want to kickstart your career in finance, explore our apprenticeship paths and register your interest today.