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Information for employers

With all the reforms taking place in the world of apprenticeships, it's vitally important that you, as an employer, understand how to design high-quality apprenticeships. These new positions should bring the maximum benefit possible for your organisation, delivering long-term value for both you and your staff.

We've outlined some of the key information that you need to know about apprenticeships to get you started.

What is an apprenticeship?
Apprenticeships have been around for years, what’s new?
What is the apprenticeships levy?
How is the levy calculated in practice?
What happens if your annual wage bill is less than £3m?
Are apprenticeships only for new staff?
How are apprenticeships assessed?
How long does an apprenticeship take?

What are apprenticeship standards?

Groups of employers – known as Trailblazers – are working together to design Apprenticeship Standards for occupations in different sectors. Apprenticeships are based on these standards; the standards focus on the knowledge, skills and behaviours an employee needs in order to be successful in a specific role. In most cases, the standards include mandatory qualifications.

Within the financial services sector, a number of standards have already been approved for delivery with more currently in development. These cover roles in areas including compliance, risk, financial advice, mortgage advice and customer services, and range from Level 2 (GCSE A* to C equivalent) all the way up to Masters level (Level 7).

Almost any role can have an apprenticeship. You can find out more about financial services apprenticeship standards below.

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