How do apprenticeships work?

Simply Academy’s Financial Services apprenticeships are an excellent way to embark on a new career for anyone over 16 who is not enrolled in full-time education. They also offer a great way to change careers or progress within your career in the financial services sector.

But if you’re considering applying for an apprenticeship, you may not be totally sure how apprenticeship training works.

So in this blog post, we’ll take a look at how apprenticeships work and what to expect from an apprenticeship, together with the different types of finance apprenticeships that we offer at Simply Academy.

How apprenticeship programs work

Apprenticeships combine on-the-job training with structured study towards an industry-recognised qualification. At Simply Academy, we partner with employers to design training programmes that develop the skills businesses actually need.

• Each apprentice receives:
• A tailored programme of study
• Regular progress reviews
• Support from a dedicated mentor with real industry experience

This combination ensures you learn practical skills while earning a salary, making the transition into a financial services career smooth and rewarding.

How long is an apprenticeship?

The length of an apprenticeship varies but they generally take between one and four years to complete. This depends on the industry and level of the apprenticeship and the apprentice’s abilities.

Apprenticeship working hours usually range between 30 and 40 hours per week, which is the maximum hours an apprentice can work. This time includes any on-site study or travel off-site to visit training providers. Apprenticeships on a part-time basis may be possible where apprentices who have additional responsibilities such as caring for a relative. These will involve working for a minimum of 16 hours per week.

Did you know? Typical Level 3 apprenticeships take 12–15 months, and Level 4 apprenticeships take 24+ months.

How much do apprenticeships earn?

Apprenticeships are paid training programmes and there is a specific minimum wage for apprentices, but some employees may pay more than the minimum wage. As of April 2026, the minimum wage for apprentices in the UK is:

• £5.28 per hour for under-19s or first-year apprentices
• £9.50+ per hour for apprentices aged 23+

If you work more than 33 hours per week, you’re entitled to the same benefits as other employees, including sick pay and paid annual leave.

By the end of their apprenticeship, candidates will have gained the skills and experience they need to work in the Financial Services sector as well as a respected qualification such as the Certificate in Mortgage Advice and Practice (CeMAP).

Did you know? Apprentices in the financial services sector typically earn £16,000–£22,000 per year depending on role and experience.

What apprenticeships are there?

Apprenticeships suit a wide range of learners, from school leavers to professionals looking to upskill. Simply Academy offers apprenticeships at different levels:

• Level 2: Equivalent to GCSEs
• Level 3: Equivalent to A levels
• Level 4: Equivalent to Foundation Degree

These programmes allow you to earn while you learn, gaining qualifications and experience without committing to full-time university study.

What qualifications and career progression can I expect from a finance apprenticeship?

Completing a financial services apprenticeship gives you both practical experience and nationally recognised qualifications, allowing you to progress in your career quickly.

• Level 3 apprenticeships: Achieve A-level equivalent qualifications and gain experience in roles such as Administrator, Insurance Practitioner, or Mortgage Adviser. These can lead to supervisory or specialist positions within 1–2 years.
• Level 4 apprenticeships: Achieve Foundation Degree equivalent qualifications, suitable for roles such as Paraplanner or Financial Adviser. These roles often lead to higher-level positions, including senior adviser, team lead, or management roles.
• Apprentices who complete their programme often continue to higher qualifications, such as CeMAP Level 2/3 or the CII Diploma, improving both career prospects and earning potential.

Did you know? Over 70% of Level 4 apprentices in financial services progress to managerial or advisory roles within 2–3 years.

Level 3 apprenticeships at Simply Academy

Simply Academy’s Level 3 apprenticeships are all 12–15 months and provide hands-on experience alongside a respected qualification. Current options include:

Financial Services Administrator Apprenticeship

• Suitable for entry-level roles such as Financial Services Administrator, Office Assistant, or Customer Service roles
• Provides opportunities to progress into higher-level financial services careers.

Mortgage Adviser Apprenticeship

• Develop essential skills to work as a mortgage adviser
• Gain the CeMAP qualification alongside work-based experience

Level 4 apprenticeships at Simply Academy

Simply Academy’s Level 4 apprenticeships are 24+ months and equivalent to a Foundation Degree. Current options include:

Paraplanner & Financial Planner Apprenticeship

• Ideal for aspiring paraplanners
• Suitable for new entrants or those with administrative experience
• A natural progression from the Level 3 Financial Services Administrator apprenticeship.

Start your new career journey today…

Whether you are a prospective candidate who would like to apply for an apprenticeship, or an employer who is interested in starting an apprenticeship scheme at their company, get in touch with our dedicated Apprenticeships team for more details. You can contact them by email at [email protected] or call them on Freephone 0808 208 0002.