Santander drops 2:1 requirement for graduate scheme

Recent university graduates who want to join Santander’s graduate scheme will no longer need an upper second or first-class degree from their university after the bank said it is looking for more than just grades.

The Spanish bank said the move will open its programme to 64,000 more people every year.

It follows recent moves by other City firms to recognise students and recent graduates who have performed less well academically than some of their peers but might still have plenty to offer.

Last August, accountancy giant PwC said it was removing the same requirement for its graduate jobs, allowing the business to “assess (the) potential” of candidates rather than simply judging them on academic performance.

Asset manager Schroders also removed the requirement for a 2:1 degree last autumn.

Santander said university performance is not the only indicator of how successful someone might be in the workplace.

Around 16% of students who leave university come out with a 2:2 degree or a third, Santander said.

It will therefore open up to thousands of new potential candidates as applications start later in January.

“Academic achievement is important but it is only one of many factors we look at when searching for new talent,” said Santander human resources director Anouska Ramsay.

“We believe potential can be found anywhere and this move reinforces our commitment to finding the best candidates from a wide range of backgrounds.

“We’ve won awards for our social mobility initiatives and this is an important development to widen our recruitment criteria.

“Those that join us can expect to build a foundation for working in finance and grow their career path within the bank.”