CUNY expands apprenticeship offerings at financial companies

Vincent Perretti

CUNY will expand its apprenticeship programs after New York Gov. Kathy Hochul announced a $2 million investment from the state on April 3. 

The additional funding will add 12 new apprenticeship programs to all 10 CUNY colleges that offer associate degrees starting in the fall 2023 semester, creating new career alternatives for students. 

Typically, students pursuing an associate degree at a community college will transfer into a bachelor’s degree program at a senior college.

“Apprenticeships are a critical launching pad for good-paying, impactful careers and we’re proud to build a robust program for CUNY students,” Hochul said, according to a press release. “With this $2 million investment, we’re able to expand apprenticeship programs for associate degree programs and open up new opportunities for New Yorkers across the state.” 

Students in the apprenticeship program will be placed in paid positions at prominent companies spanning multiple industries in combination with the New York Jobs CEO Council, a nonprofit organization whose mission is to “provide access to high-potential jobs for 100,000 low-income New Yorkers, including 25,000 from the City University of New York.” 

“These programs are game-changing for both students and employers,” Kiersten Barnet, who is the executive director of the New York Jobs CEO Council, said in a statement. “Students get work-based learning opportunities that double as direct pathways into competitive entry-level roles. Employers get access to a wider pool of talent that reflects the rich diversity of our city.” 

The participating financial corporations that students may be placed in include JPMorgan Chase & Co., Ernst & Young, Citigroup Inc., American Express Co., Deloitte, American International Group Inc., Mastercard Inc. and Wells Fargo & Co.

EY offers apprenticeships that span multiple industries to allow students to “make an impact that not only aligns with our purpose but helps entire economies to thrive and prosper.”

Benjamin Abraham, a student at Borough of Manhattan Community College, participated in an apprenticeship at EY.

“The networking has been super helpful, where we can approach a person in the halls and ask them about their service lines, about the work that they are doing,” Abraham said, according to a press release. “Coming into such a big company feels like such a huge mountain to climb, but this has been a smooth experience with a down-to-earth team.”

JPMorgan offers a wide array of apprenticeship programs to give students industry insights and experience while still in school. Some programs increase the chance of a student obtaining a full-time position within the firm. 

The company’s technology degree apprenticeship program is one of the more popular initiatives at the firm. According to its website, the four-year program “offers a comprehensive introduction to the world of technology within financial services and the chance to obtain a full honors degree alongside valuable work experience.” 

“Apprenticeships have always been a great path for young people to break into fields, offering them hands-on-work until they were ready to do the work unassisted,” CUNY Chancellor Félix Matos Rodríguez said in a statement. “Students need experience and connections to the workplace beyond the classroom more than ever, so they have clear pathways to careers when their education ends.”