PRESS RELEASE
The next generation of City workers begin their career journey with The City Corporation’s flagship programme.
The City of London Corporation in partnership with The Brokerage Citylink – a City-based social mobility charity, held a pre-internship event to welcome successful candidates onto the City of London Business Traineeship (CBT) programme.
The current CBT programme was launched in 2000 by The City of London Corporation. It is delivered by The Brokerage, on the City Corporation’s behalf, to boost social mobility and City firms’ diversity and competiveness.
The programme helps state school students from the City’s neighbouring boroughs to develop the skills needed for a successful career in the Square Mile by providing them with 6-13 week paid internships at around 25 of the City’s most prestigious businesses.
Recent reports have indicated the need for young people to develop further skills before entering the workplace. The CBT programme aims to support these young Londoners as they begin their career, providing them with the skills and knowledge they need.
Applicants for the CBT programme participated in a competitive, employer-led recruitment process and were supported by The Brokerage to understand how to market their skills to City employers.
Société Générale, Bank of England, Marsh, CNA Hardy and William Blair are among the businesses fully backing the initiative and taking on students this summer. All placed candidates will receive at least the London Living Wage to ensure they are able to support themselves financially whilst taking vital steps to progress their career.
A panel of former CBT programme participants attended the event, hosted at the Guildhall in the heart of the City of London, to share their experiences of the City Corporation’s flagship programme, which has led to paid internships for nearly 1,400 year 13 students since 2001.
With the current economic uncertainty, it’s essential that the next generation of City workers are prepared for what the future holds and it seems the City is backing their development.
Bridget Gardiner, Executive Director of The Brokerage commented: “The Brokerage is delighted to be the City of London’s partner, managing the CBT programme on behalf of the Corporation for the 15th year. We are also pleased that a number of new corporate partners are supporting the programme this year, including Marsh and Newline Group, offering structured experiences of the world of work to students who do not have the networks to secure such opportunities themselves.”
Mark Boleat, Chairman of the Policy and Resources Committee, City of London Corporation said: “Internships are valuable not just to young people, who have a chance to put their skills into practice, but also for businesses who can access a fresh pool of talent. Not only do these internships offer students a chance to cultivate essential employability skills, but many have gone on to secure permanent jobs and form long-term links with their host companies.
“Together we can do more to support young people out of unemployment and into jobs – creating a more diverse and sustainable City and making sure that we get the maximum benefit from the talent of young Londoners.”
The programme has enabled young Londoners from disadvantaged backgrounds to access paid internships. By reaching out to state schools and colleges across inner London, the CBT scheme is able to recruit high-achieving and motivated students from a variety of backgrounds, giving them a chance to compete for more than 100 paid placements every year.
City-based companies that would like to take part in this initiative by offering internships this summer should contact The Brokerage for more information.
