What is the Polytechnic Talent for Finance Scheme?
The Monetary Authority of Singapore (MAS) has launched a SGD 8 million grant scheme to support the development of a strong pipeline of finance talent in the country.
This Polytechnic Talent for Finance Scheme targets polytechnic students and graduates who are keen to pursue a career in the financial industry.
So who is eligible?
Polytechnic students or graduates who have completed a relevant diploma or degree within the last three years are eligible to apply.
3 tracks under the Polytechnic Talent for Finance Scheme
The scheme will be administered by the Institute of Banking & Finance and it comprises three tracks targeting polytechnic talent at different stages:
- Polytechnic students
- Polytechnic graduates
- Finance professionals with polytechnic diplomas
Polytechnic students
There will be internships to equip polytechnic students with skillsets to be job-ready, and be hired upon graduation.
The scheme will fund 80% of monthly internship stipends, capped at S$1,000 per month, for up to 12 months for qualifying interns.
Polytechnic graduates
For those who have graduate, apprenticeships are provided as an alternative pathway to secure good jobs immediately after obtaining their polytechnic diplomas. This will allow poly grads to receive training and eventually take on university graduate-equivalent roles.
The scheme will provide salary support of up to S$2,000 per month, for up to 12 months.
For apprentices that are placed into university graduate-equivalent roles within three years from the start of the apprenticeship programme, the scheme will provide salary support for an additional period of up to 12 months.
Finance professionals with polytechnic diplomas
Lastly, for finance professionals who are diploma holders:
Sponsorships will be offered to fulfil their academic aspirations to pursue relevant post-diploma and degree-equivalent programmes whilst continuing to be employed. The scheme will fund 50% of tuition fees, capped at S$10,000.
