Deutsche Bank to support high potential students from disadvantaged backgrounds into careers in banking

1st November 2021

upReach is delighted to announce it will be partnering with Deutsche Bank to launch the bank's new Early Careers Advance programme, which will support 10 students from low socioeconomic backgrounds to start their career within financial services. The depth of 1-to-1 support provided to the select group of students will include employability workshops, skills sessions, professional mentoring, and completing a set number of tasks to improve commercial awareness vital to succeed in the sector. Applications to join the 18-month programme open today (1st November 2021), with upReach prioritising applications from high-potential students who meet multiple indicators of socioeconomic disadvantage and have not had high-quality work experience prior to joining university.

Social mobility is a persistent issue within the UK banking sector. While more students from less-advantaged backgrounds are now accessing higher education, their social background continues to impact their access to graduate jobs. Students from a working-class background who attend Russell Group universities and achieve a first-class degree were still less likely to enter into a top occupation than those from a privileged background at the same universities who get a 2:2 degree (1). City recruiters note that candidates from less-advantaged backgrounds often disproportionately lack self-confidence and suffer from poor CV preparation and interview techniques (2).

Recognising the lack of socioeconomic diversity within the banking sector, Deutsche Bank is taking an active role in improving the landscape through sponsoring and launching this joint venture with upReach. As well as students having access to upReach’s personalised programme of career support, their skills, insights and confidence will be built through Deutsche Bank-led workshops, a four-day in-depth insight programme, ongoing mentoring from Deutsche Bank employees and a valuable week’s work experience placement. Students who successfully meet the programme’s progression criteria will be invited to apply for the bank’s nine-week Summer Internship programme, commencing in July 2023. Depending on their career interests, students will be able to select their preference of joining one of the bank’s core divisions – the Investment Bank, Corporate Bank, International Private Bank, Finance or Technology, Data and Innovation – and will be based in the City of London or Canary Wharf offices.

Tiina Lee, CEO for UK and Ireland at Deutsche Bank, said:

“The launch of Advance is a very proud moment for the bank’s Early Careers programmes, and we are delighted to work with upReach to ensure we support students from low socioeconomic backgrounds. We know this is a vital step to help remove barriers that have typically stopped bright, young students from less-advantaged backgrounds considering a future at Deutsche Bank. There is a huge array of talent out there that the industry is missing out on, and we want to be a leader in bringing in diverse experiences and backgrounds to support our growth and transformation.”

John Craven, Chief Executive of upReach, commented:

“upReach has grown significantly over the past 5 years from supporting 529 students in 2016 to a projected 2,700 in 2021. This growth would not have been possible without the support of upReach’s partners, donors, and supporter firms. We are delighted to announce this partnership with Deutsche Bank and the launch of the Advance programme which will allow us to further grow our impact and provide more students with exciting career opportunities in the banking sector.”

The Advance programme, which is open to upReach Associates in their first year of a three-year course or second year of a four-year course, exemplifies Deutsche Bank’s commitment to improving social mobility and giving access to those from less-advantaged backgrounds to explore top graduate opportunities. Many upReach students have a strong desire to access careers within financial services, and this programme provides the foundation that students need to access the sector and pursue their career ambitions.

If you’re a student interested in applying for the Deutsche Bank Advance programme, start your application to join upReach today via https://upreach.org.uk/apply-now. Once you’ve joined upReach’s programme, you’ll have access to apply for this programme with Deutsche Bank, as well as other exclusive opportunities with leading graduate employers.

Read more about the Advance programme and our new partnership with Deutsche Bank here: https://careers.db.com/life/advance.

Notes to Editors

References:

  1. Friedman, S. and Laurison, D., 2019. The Class Ceiling: Why It Pays To Be Privileged. Bristol: Policy Press.
  2. Sutton Trust and Boston Consulting Group., 2014. Pathways to Banking: Improving access to students from non-privileged backgrounds.

Contact Details:

John Craven (Chief Executive) Email: John.Craven@upreach.org.uk Tel: 07971274469

Lidia Barbuti (Senior Brand, Marketing and Communications Officer) Email: lidia.barbuti@upreach.org.uk

About upReach:

upReach is an award-winning social mobility charity that supports over 2,000 students to secure top graduate jobs, in partnership with leading organisations including Bank of America, Civil Service Fast Stream, Deloitte, Goldman Sachs, and Slaughter and May. A team of upReach Programme Coordinators provide personalised support helping students from less-advantaged backgrounds to broaden their horizons, raise aspirations and enable them to develop the skills, networks, and experiences required to succeed on merit. upReach won Charity of the Year in 2019 at the Charity Times Awards, and won the 2020 Embracing Digital Award at the Charity Governance Awards.

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About Deutsche Bank:

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

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