The number of apprenticeships in the financial services sector has rocketed by 233% in the past year, according to figures from the National Apprenticeship Service.
Figures released for the 2011/12 academic year show 700 people started apprenticeships in the financial sector between September 2011 and May 2012, a significant rise from the 210 who took part in the last year,
Mortgage Solutions recently visited the successful apprenticeship scheme at London-based mortgage brokerage Coreco. The firm took on its first apprentice last summer, and has been delighted with the outcome.
Roy Hardy, director of operations at Coreco, told Mortgage Solutions that it had allowed his business to train youngsters exactly how they wanted.
"I've always thought you should give everybody a chance and it's easier to train people the way you want things done, with a clean slate, than take someone who has been around a bit and picked up bad habits."
"We started with brokers and we've recently ventured out and recruited someone for our marketing team. Our plan is to take on another apprentice every six months."
However, opportunities in the financial sector continue to be rare, representing less than 1% of current 450,000 apprentice positions in the UK.