If you’re eyeing up a career in banking, you’ll be aware that the industry is highly competitive and that any experience you can get will give you an edge over your peers.

Unfortunately, while starting early is always advisable, many banks only run formal work experience or internship schemes for university students. These typically divide into two categories:

  • Spring weeks – a week-long work experience placement, sometimes called ‘Insight Weeks’, that take place over Easter of your first year of university (or second year of a four-year degree)
  • Summer internships – longer, paid placements that take place over the summer holiday, usually between your first and second or second and third years of university

Where does this leave you as a school student looking for banking work experience? Luckily there are still a number of options available to you. In this guide we’ll run down the banking work experience options for Year 12 and 13 – with some bonus tips on how to improve your chances of making a successful application.

We’ll also discuss Dukes Plus’s own Young Investment Banker Summer Experience, an incredible opportunity to experience a career in investment banking, designed for students aged 15-18.

In-Person Banking Work Experience for Year 12

A few large retail banks and investment banks offer in-person work experience opportunities for younger students.

It’s worth taking the time to research all the major banks and see what they offer – they usually have a section called ‘Early Carers’ or similar. To get you started, here are a few options:

  • JP Morgan
  • Barclays (note that this is for their ‘life skills’ personal finance outreach programme)
  • Morgan Stanley
  • PWC – not a bank per se, but will be highly transferable

Another route to consider is The Sutton Trust’s Pathways to Banking and Finance programme. There are eligibility criteria to consider: typically you need to have always attended state school and to live within commuting distance of the institution where you’d be working. This programme is run in partnership with universities such as LSE, Warwick, and Liverpool, and arranges experience at an array of major banks.

All of these formal programmes at large banks are likely to be highly competitive, so we recommend you apply to a range of them, as well as making use of the other suggestions we provide below.

Virtual Opportunities

Virtual banking work experience might not be as immersive as in-person placements, but it will still provide you with the opportunity to learn more about the industry and company, and will show universities and employers that you are serious about a career in banking.

The major benefit is that, compared to in-person banking work experience, virtual placements are easier to secure. Some programmes are available on demand and offer an unlimited number of places.

Here are some of our favourites:

Young Investment Banker Summer Experience

The Young Investment Banker Summer Experience is designed to provide students aged 15-18 with a comprehensive introduction to the world of investment banking.

Over two weeks, participants will engage in live trading on the London stock market, partake in a simulated M&A deal, and build their own equities portfolio under the guidance of senior asset managers.

Based in central London (at the UCL campus), this is an incredible opportunity to experience life as a banker. Plus, there’s the chance to earn a UCAS-accredited work experience qualification and boost your university applications.

Secure your place for the summer by booking today.

Finding Banking Work Experience Through School

If you’re looking for banking work experience in Year 12, you should definitely see if the Careers department at your school can assist you. They may have connections with local firms or be able to point you in the direction of some lesser-known opportunities.

Contact your Head of Careers and explain what you are looking for and why. Even if they can’t arrange anything on your behalf, they will be able to advise on preparing your CV, completing applications, and writing cover letters – all vital for improving your chances of success!

Applying On Spec to Boutique Banks

As we have seen, some major banks offer formal, advertised placements to students in Year 12 and 13. However, these are highly competitive.

We therefore recommend that you approach smaller, ‘boutique’, banks which don’t advertise work experience, and apply on spec. In practice, this involves emailing someone at the bank, introducing yourself and explaining the experience you are hoping to gain and why.

You may find your success rate with this approach is low – one response per ten applications is standard. But if you do strike lucky, then this can be the key to getting some incredible experience.

Top tips for getting banking work experience in Year 12

  1. Do your research
    Take the time to thoroughly investigate the bank. Understand their core business, specialisms, and the industries they operate in. Who are their clients and what services do they perform for them? Use these insights to tailor your application and make it clear that you are interested in getting experience specifically with this bank.
  2. Craft a targeted cover letter
    Write a unique cover letter for each company you contact – it makes a real difference. Begin by introducing yourself and outlining your academic background, relevant experience, and career aspirations. Then, link your motivations to what you’ve learned about the company. Explain why you are specifically interested in working with them. Keep your request modest – rather than asking outright for a summer-long placement, suggest that you could shadow an employee for a week. Once you are there, if you impress the team with your enthusiasm and a strong work ethic, they may end up extending your placement.
  3. Prepare a clear CV
    Your CV only needs to be a page long. Focus on your academic achievements and any work or voluntary experience you have. Include your contact details, but there’s no need to include a photo. Keep the formatting clean, professional, and easy to read.
  4. Contact a named individual
    Whenever possible, address your application to a specific person. Check the company’s website to identify the most relevant contact, or call the firm directly to find out who you should approach. Keeping your contact with the bank as personalised as possible shows initiative and professionalism.
  5. Follow up appropriately
    If you haven’t received a response after two weeks, send a polite follow-up email to check whether your application was received and if there’s someone else at the bank who you should contact. If you still don’t hear back, it’s best to leave it there. Smaller companies may not have the capacity to reply to every enquiry, and persistent follow-ups could be counterproductive.
  6. If you’re turned down
    If your application is unsuccessful, respond promptly and courteously, and ask if they can provide any feedback. Perhaps the bank simply doesn’t offer work experience, or maybe there was something about your application that set you back. Understanding this will help you make your future applications better.

Young Investment Banker Summer Experience

Experience a career in banking, with the chance to earn a UCAS-accredited work experience qualification.

Book Now

FAQs

Yes, although it can be challenging. While many formal schemes are aimed at university students, there are still some in-person, virtual, and speculative work experience opportunities available for Year 12 students. If you can secure a placement, it will give you a head-start on your peers.

Some major banks such as JP Morgan and Morgan Stanley offer early career programmes that may accept Year 12 applicants. You can also explore The Sutton Trust’s Pathways to Banking and Finance programme, which partners with universities and banks to offer placements to students who meet their eligibility criteria.

In short, yes – although in-person experience is still better if you can get it. Virtual placements show your interest and commitment to banking, and help you improve your understanding of the industry. Many virtual placements are easier to secure and are available on-demand. Organisations like Springpod, Santander, and Citigroup offer virtual programmes.

Banking is highly competitive and even very strong applicants will be unsuccessful more often than not. It’s normal not to get a response to every application, especially when applying on spec. If you don’t secure work experience this time, focus on gaining other transferable skills and try again next year or consider virtual programmes to build your CV.

You can apply on spec by writing a targeted cover letter and CV and sending it to a named individual at the bank. Make sure you explain clearly why you are interested in their firm and what you hope to gain from the experience.

The Young Investment Banker Summer Experience is an immersive two-week programme for students aged 15-18, created by Dukes Plus for budding bankers. Participants engage in live trading simulations, practise making M&A deals, and build their own portfolio under the guidance of industry pros. You also have the chance to gain a UCAS-accredited work experience qualification.