Barclays launch apprenticeship scheme for over-50s

The banking giant, Barclays, is setting up an apprenticeship scheme for wannabe bankers that are over 50.

A new apprenticeship scheme is being launched by the well-renowned bank, Barclays, however it’s with a twist. If you’re thinking about becoming a banker, those that apply can expect to work their way from the bottom-up. But don’t expect a successful application if you’re fresh out of school, as this scheme is aimed at those aged 50 and over.

Expect to see adverts for the scheme in the summer and for the first recruits to be taken on later in the year, where trainees will learn all the banking skills like calculating credit risks. Furthermore, a nice gesture would be if these mature apprentices earned more than the regular starting salary, a move which Barclays is purportedly considering.

“Older people have more life experience, and can show more empathy. They will have had a mortgage, they will know how to budget and how to support customers,” said Mike Thompson, head of apprenticeships at Barclays.

Over-50s scheme will complement current programs

The idea behind the scheme is to encourage hiring in the 50 to 64 age range, where it’s estimated that one million people were forced out of their jobs due to their age. It will complement the number of government backed programs that are focused on getting young people into jobs and support the new pledge to tackle ageism in the workplace.

“Despite the recent impressive trends in those over 50 getting back into work, older workers still in many cases face outdated stereotypes when it comes to business hiring practices,” said Esther McVey the employment minister.

“Not only is this a waste of valuable talent and 'life skills', but it's a missed opportunity for businesses to make their most of their experience to support younger colleagues develop their careers.”

Barclay’s new apprenticeship initiative will offer those frustrated science teachers, and others that are fed-up with their workplace, a fresh start as a banker.