Degree apprenticeship or uni…?
Hello, I am currently 17yo in yr 12 I’m not sure wether to go down the degree apprentice root as I have heard people say that after your degree apprenticeship you end up being stuck in the middle or back office is this true?. I also cannot find many opportunities for a degree apprenticeship in IB other than Goldman, Deutsche and UBS does anyone know of any other banks that offer them. I am currently predicted A* A* A so could go to most unis however I don’t do maths so I wouldn’t be able to study economics at the top unis such as Oxford and LSE. Any insight anyone can provide me about degree apprentaships in IB would be very useful. Thank you.
Personally I think degree apprenticeships are worth it and should be pursued. I think it varies from firm to firm whether or not you will be placed in a back office function but the fact that you get your degree paid for + professional qualifications possibly + experience is enough to take it imo. As long as the degree is from a good university it is usually fine. The experience you will get will be good.
Only thing I would say is that only do one if you are set on finance and the area the apprenticeship is in.
I'd say it depends. Just a quick look at a few factors that might affect your decision.
Career: In terms of career it's probably 60/40 in favour of apprenticeships, especially if you secure an one in FO BB/MM (not sure how common that is).
Social Life: Universities provide an unparalleled opportunity to meet people whom might have led a fully different life, in different countries. Plus, it's easy as fuck to get laid and that might be an important factor.
Optionality: Universities provide a base certification, giving optionality and a certain degree of freedom even after choosing a job. With a degree in Business/Economics, you could probably pivot to marketing/consulting/project management if you realise finance isn't your cup of tea.
Cash Flow: Universities cost money (duh), apprenticeships give you money while sponsoring your education. From a purely financial standpoint, you could invest the money you would have otherwise spent on university and partying. This would net you a sizeable $$$ safety net, giving you the ability to say "fuck off" to jobs that aren't your cup of tea.
Stability: As a finance student, a good part of my fresher's was spent applying for spring weeks. And if you surround yourself with finance students (as most are bound to) you will likely not be very happy seeing people get internships while you don't. This can weigh down on your university experience. On the other hand, apprenticeships present a set path and stability that isn't present in the University Recruiting System.
Tried to keep this as unbiased as possible. Valid arguments for both and end of the day it depends on what you value in life. Is it Freedom? Is it Finances? Is it Stability?
Personally, when I was 17 I thought I would be a doctor. When I was 18 I thought for sure I would be a lawyer. I'm 22 now and I honestly have no idea what the fuck I want to do so I'm in IB. Have a think, but understand that people change, and what you want now might not be what you want 5 years from now.
I would suggest that university is better than an apprenticeship. It's not that apprenticeships are bad, but university offers you so many more choices, and at this age, we grow a lot, and our minds can change quite quickly. There is a lot of inflexibility in an apprenticeship; you are locked into finance for at least three to four years, and without experience in anything else, it becomes hard to switch careers and justify such changes, as all you know is finance. I would sit down and think clearly: Are you dead set on finance, or is there another field that you find at least 'interesting' and would like to briefly explore, perhaps with an internship?
If you go for an apprenticeship, ensure it's a top IBD one; don't opt for an accounting one if your goal is IBD/PE etc (you are better off at a non-target university).
I have an offer to join JPM as a DA this September subject to A Level grades. Do you think that the experience gained plus the degree on the apprenticeship would mean I could move into IB post apprenticeship regardless of where I was placed on the apprenticeship? As I have received so many varied options. Some say that it’s like having had a 4 year internship others say you end up stuck in a role you don’t want!
Honestly, nothing is impossible. I know of one or two guys who transitioned from a corporate banking apprenticeship to IBD. However, transitioning from undergraduate or master's programs to IBD is a tried and tested path. An apprenticeship is more unorthodox. If you complete your apprenticeship and excel, and are absolutely set on investment banking, you will network with the right people and facilitate that move. So the choice is yours. There are strengths and weaknesses in all options. In university, you get more flexibility, and it's a more obvious path, but you pay a lot of money. With an apprenticeship, you build strong experience, earn a degree, get paid, and potentially build a strong network. The downsides are that you lose the flexibility to intern in different fields and can be boxed in. Whatever option you choose, it is possible to get into IB.
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