Zurich boosts graduate intake amid most competitive market “since the financial crisis”

Zurich UK has upped its graduate intake for 2022 in what it predicts could be the most competitive recruitment round since the 2008 financial crisis.

The insurer has announced a 13% increase in graduate places as it launches a six-week campaign to find the next generation of insurance experts and leaders.

Places on Zurich’s two-year graduate scheme, which is open for applications until 17 October, have increased from 23 to 26.

Zurich is also recruiting for its summer 2022 internship programme, with 17 places available on the paid 10-week scheme. Completing an internship can offer a fast-track to employment, with almost half of Zurich’s most recent cohort of interns going on to secure a place on its graduate scheme.

More than half a million graduates are expected to begin looking for jobs this year, with at least 40 graduates chasing each available position.

Michelle Ransome, Zurich’s Lead Talent Acquisition Partner, said: “Students leaving university are facing the most competitive jobs market since the financial crisis. With many employers suspending or cutting their intakes last year, graduates are vying for places against cohorts from both 2020 and 2021. University leavers are also likely to also be up against candidates made redundant during the pandemic, who could have a several years of experience behind them. Last year, we saw a 70% increase in applications and anticipate we could exceed that figure this year. It’s positive that some recruiters are increasing their intake, which is a sign of rising confidence in the graduate employment market.”

Zurich is seeking to attract a diverse pool of talent as well as young people who might not traditionally consider a career in insurance. The insurer is partnering with the BYP Network, which aims to connect young black professionals with career opportunities.

Ransome added: “We want to attract graduates with fresh talent and ideas, irrespective of their background. By building a more diverse workforce, we can better reflect the customers and communities we serve. We also want to challenge perceptions around the insurance industry. From roles in digital and data analytics to engineering and automation, there’s a huge variety of careers in the sector, and we need to make sure graduates are alive to the opportunities.”

Kike Oniwinde, CEO of the BYP Network, said: “We are super excited to partner with Zurich to help promote their graduate and internship opportunities to our Black professional community. We have already connected over 40 of our members to employees at Zurich but with these new opportunities we can continue to promote to a wider network. Drawing from a diverse pool of candidates enables firms to hire the best possible talent and it's crucial that the financial services industry ensures Black people can also get in and excel in the sector.”

The company’s UK chief executive, Tim Bailey, and Head of Customer, Amy Brettell, are among the leaders who began their careers on Zurich’s graduate scheme.

Zurich is recruiting for places across five areas: Business Management, Change and Technology Management, Actuarial, Finance, Data and Analytics. Roles are available across the UK including London, Fareham, Glasgow, Birmingham, Swindon and Cardiff.

Starting salaries for the graduate programme are £28,000, increasing to £31,000 for actuarial and data and analytics streams.

Ransome concluded: “Our development programme is designed to equip graduates with a strong foundation of workplace knowledge and skills, alongside opportunities to put those skills into practice in real-time. We offer a supportive working environment and enriching learning experience for ambitious graduates who want to fast-track their careers.”

In May, Zurich announced it has doubled the number apprenticeship places it is making available in 2021 - from 15 in 2020 to 30 in 2021.