10000BlackInterns was co-founded by Dawid Konotey-Ahulu (a co-founder of Redington Limited and Mallowstreet), Jonathan Sorrell (President of Capstone Investment Advisors), Michael Barrington-Hibbert (founder of Barrington Hibbert Associates) and Wol Kolade (Managing Partner of Livingbridge), the group which founded #100blackinterns in August 2020.
Through the #100blackinterns initiative, leading players in the investment management industry have come together to address the chronic underrepresentation of Black talent in that sector. Since its launch, the programme has garnered extraordinary support with 200 investment management companies offering internships in the Summer of 2021 to Black students in the United Kingdom as a way of attracting a more diverse range of talent to their industry.
Following the launch of #100blackinterns, the 10,000 Black Interns initiative has been designed to help transform the horizons and prospects of young Black people in the United Kingdom across a wide range of sectors.
How it Works
The 10,000 Black Interns programme will offer paid work experience across a wide range of sectors each year, providing critical training and development opportunities. Our aim is for over 20 industries to join together to provide 10,000 internships in aggregate over five years.
Which industries are involved so far?
Leading representatives from seven sectors, including Accountancy, Healthcare Data Research, Healthcare Management, Insurance, Legal Services, Marketing & Advertising and Recruitment, have already committed to play their part in the 10,000 Black Interns programme. A wide range of other sectors will join the programme board soon.
How it Works
What am I registering my interest for?
By registering your interest, you are saying that your company or organisation will commit to offer at least one internship per year to a Black candidate starting in the Winter of 2021/2022 or the Summer of 2022. We are also looking for people who would like to participate as members of a Steering Group for their sector (see below). Register your interest here.
What will a Steering Group do?
The Steering Groups will have oversight of the following areas:
Phase 1: selecting participant firms in their sectors to commit to offering at least 100 paid internships to Black people (those firms initially registering their interest at launch through our website)
Phase 2: sourcing applications from Black students for the internships provided (the backing of the Universities Alliance and Russell Group being important for this purpose)
Phase 3: providing relevant knowledge and skills-based training for successful applicants prior to starting their internships (following the comprehensive programme being established by #100blackinterns)
Phase 4: ensuring the sustainability of their sector’s initiative by repeating the programme each year for five years and encouraging interns to guide and mentor other students as they consider and embark upon their future career
How will the programme's activities be coordinated?
10,000 Black Interns will establish a central team to run and coordinate the programme. Each sector will have a Steering Group of four people who will be responsible for, amongst other things, encouraging firms’ participation in their programme and designing an internship appropriate to their sector. This will include application criteria and sector specific training (further detail below).
How will candidates be sourced and selected?
Candidates will apply to the 10,000 Black Interns programme and apply for a certain number of sectors. We generally expect applicants to be Black students in higher education in the United Kingdom. Applications will then be distributed equally amongst participating companies or organisations. Using their preferred processes and criteria they will select at least one applicant for an internship. We are working with the Universities Alliance, Russell Group and other University Mission Groups. Their members will promote the programme on campus to drive the greatest number of applications possible each year.
How long should an internship last?
We anticipate that internships will be offered for a minimum of four to six weeks. Industry Sector "Steering Groups" will be responsible for designing internships best suited to each sector.
Where should internships be based?
We intend to partner with companies throughout the United Kingdom who will offer positions across the country.
Will internships be paid?
Yes. At a minimum, interns must be paid the Living Wage for the relevant geographic location.
Is there a requirement for us to offer a full-time job to the intern(s) at the end of their internship?
No. The aim of the programme is simply to provide a life-changing experience in the workplace by broadening horizons and ambition. If an internship were to lead to a full time role, that would be a fantastic outcome, but it is not a requirement.
Is there a legal agreement to sign?
No. There is no legal or binding commitment to offer an internship should your plans change. However, there is a good faith ongoing commitment to offer at least one paid internship each year, commencing either in the Winter of 2021/2022 or the Summer of 2022.
Is there a fee to join the programme?
No. We will however be requesting voluntary donations from organisations that participate in the programme to fund its development. If you choose not to make a donation to the programme, you will still be able to participate.
How will the programme be rolled out across the 20 sectors?
The #100blackinterns initiative will serve as the template for other industries to follow with the aim of at least 20 sectors joining the programme, each offering at least 100 internships per year for five years. These internships will begin in late 2021/2022 in order to reach the ultimate goal of providing 10,000 internships to young Black people.
How will the programme be funded?
Capstone Investment Advisors, the global alternative asset management firm, will initially fund the launch, with voluntary contributions from participating companies developing the programme further over time.
What happens next?
Between now and December 2020, we will gather expressions of interest from firms interested in participating within their sector. We will also select representatives for Steering Committees in each sector drawn from those who have expressed interest. We will communicate selected sectors and Steering Committees by end of January 2021. Longer-term, we anticipate opening to applications from students in August 2021 with an application deadline in November 2021. Candidates for internships will be selected by the end of 2021 for positions starting in Summer 2022.