Background

The #10000BlackInterns programme 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 #10000BlackInterns initiative has been designed to help transform the horizons and prospects of young Black people in the United Kingdom. The 10,000 Black Interns programme will offer paid work experience across a wide range of sectors, providing training and development opportunities and creating a sustainable cycle of mentorship and sponsorship for the Black community. 

 

When will the programme commence?

Participating organisations will be able to offer internships in Summer 2022. The intention is to repeat the program for the next 5 years. 

How does the programme work?

The #10000BlackInterns 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. The #100BlackInterns initiative in the investment management industry will serve as a template for other industries to follow with the aim of those sectors joining the programme, each offering at least 100 internships, where feasible, per year for five years. These internships will begin in the Summer of 2022 in order to reach the ultimate goal of providing 10,000 internships to young Black people.

Which industries are involved so far?

At launch, leading representatives from ten sectors, including Accountancy, Education, Health Data Science, Healthcare Management, Insurance, Investment Management, Law, Long-term Savings, Marketing & Advertising and Recruitment, have already committed to offer internships and lead their Industry’s Steering Group.  We now have 20 confirmed sectors, which can be found on the 'Confirmed Sectors" page.

What are the Industry Steering Groups?

The Steering Groups, which will comprise approximately four people selected from those who volunteer - see Offer an Internship to apply.  The Steering Groups will work closely with the #10000BlackInterns team and have oversight of the following areas:

  • Phase 1: encouraging and selecting participant firms in their sectors to commit to offering paid internships

  • Phase 2: helping to source applications from Black students for the internships  

  • Phase 3: offering relevant knowledge and skills-based training for successful applicants prior to starting their internships

  • Phase 4: ensuring the sustainability of their sector’s initiative by driving the programme each year for five years

How will the programme's activities be coordinated?

#10000BlackInterns 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 #10000BlackInterns programme and choose a 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 University Alliance, Russell Group, GuildHE and MillionPlus, who together represent 84 institutions and an estimated one million students, of whom approximately 80,000 are Black. Their members will promote the programme on campus to drive the greatest number of applications possible each year.

How long will an internship last?

We anticipate that internships will be offered for a minimum of four to six weeks. Industry "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 to offer a full-time job to the intern(s) at the end of the 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. 

Do we need to sign a legal agreement?

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 in 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 funded?

Capstone Investment Advisors, the global alternative asset management firm, will initially fund the launch, with voluntary contributions from participating companies and organisations developing the programme further over time.

How do I apply for an internship?

Thank you for your interest!  This is an amazing opportunity and we will be providing details on how to apply for #10000BlackInterns in April next year – so, there is nothing you need to do for now.  Please do keep an eye on our website for latest developments though and follow us on social media for regular updates.  To give you an idea on timing, we anticipate opening to student applications as follows:

  • Applications from students for the Summer 2022 programme will be made in July 2021 (with an application deadline in November 2021); candidates for this programme will be selected by January 2022 at the latest.

 

As described above If you are interested for the #100BlackInterns programme in investment management which runs in 2021, you can apply here (the deadline in 13th November).

What happens next?

We anticipate that by December 2020, we will know which organisations would like to offer internships and confirm the sectors participating in the programme accordingly. We will also select representatives for each sector’s Steering Group from those that volunteer. If you would like to be considered as a Steering Group member please do so here. We will communicate selected sectors and Steering Groups by end of January 2021, if not before.

We anticipate opening to student applications as follows:

  • Applications from students for the Summer 2022 programme will be made in July 2021 (with an application deadline in November 2021); candidates for this programme will be selected by January 2022 at the latest.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
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