Thirty firms based in the City, including Bloomberg and Hiscox, are to offer paid traineeships to 85 school-leavers from the seven City-fringe boroughs of Tower Hamlets, Hackney, Southwark, Westminster, Lambeth, Camden and Islington.
The traineeships, which start in July, are being offered under the City of London Business Traineeship (CBT) scheme which seeks to give young people a head-start on the career ladder while allowing firms the chance to tap into the local pool of talent.
Each of the trainees has completed an assessment, workshop and interview process with their host firm before being accepted. Each will be paid the standard rate for a graduate role.
Stuart Fraser, Chairman of the Policy and Resources Committee at the City of London Corporation, says, “With competition for graduate jobs remaining tough, CBT traineeships are crucial in giving young people some concrete experience for their CV. This year, we will be giving this opportunity to the 600th trainee. As a result, we now have young ambassadors for jobs in the Square Mile, right on the City’s doorstep and a high-achieving workforce of the future.”
The CBT is one of a number of initiatives by the Corporation of London to bridge gap between the City and City-fringe boroughs.