National Bank of Greece leads the largest financial group in Greece and SE Europe, boasting a dynamic presence in 12 countries. Altogether, it runs 10 banks and 62 financial organizations.
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BUSINESS: 318 PRACTICES
As part of its efforts to efficiently link education to the labour market and to enhance cooperation with Public Bodies, Universities and Businesses, in 2014, National Bank of Greece alongside IKY announced the launching of an innovative employment scheme, once again proving that it strongly believes and invests in the country's younger generation.
This innovative scheme aims at rewarding excellence, to prevent the brain drain and to efficiently create a link between education and the labour market. With youth unemployment exceeding 50% and 300,000 young people out of work, i.e. people who have no work experience whatsoever, NBG believes that one of its key duties is to invest in the younger generation and to offer hope and opportunities to these young people as they join the country's productive force.
From 2014 and for 4 years
IKY alongside National Bank of Greece designed the innovative Scholarship Scheme "2+2" which rewards excellence in the most meaningful way. Within the context of the said Scheme, scholarship holders will be able to do their postgraduate studies and at the same time complete their internship in NBG over a period of up to two years thereby gaining the necessary professional experience to subsequently enter a two-year full-time dependent employment contract with NBG. The total Scheme term is for a maximum four (4) years.
Implementing this pilot Scheme (2014-2018), NBG offers the opportunity to 100 postgraduate scholarship holders to do their internship in the banking sector and thereby enhances the relationship between education and the labour market. The said 100 scholarships aim to facilitate the attainment of Masters degrees in four leading subject areas, relevant to the Bank's operations: Banking and Finance, Business Administration, Financial Studies, and Science. Students who are scholarship holders started their internship in the Bank in November 2014 during which they are expected to acquire work experience by being involved in various transactions and being assigned with various tasks in NBG Branches and Units. In addition, they will be able to expand their knowledge and develop their skills via targeted training (on the job, in class, e-learning) in a wide range of banking operations.
NBG worked closely with the Ministry of Labour, Social Security and Welfare to update and form the legal framework for these specific post graduate internships.
The profile of scholarship holders as well as their classification are set out hereinbelow:
Total Number of Postgraduate Scholarship Holders: 100
Classification by geographical area of studies: 80 Athens, 20 Thessaloniki
Scholarship holders by academic field: Banking and Finance: 60, Business Administration: 20, Financial Studies: 10, Science: 10.
Scholarship holders by specialisation: Banking and Finance: 12, Accounting and Finance: 19, Auditing: 9, Risk Management: 1, Human Resources Management: 7, Business Administration: 7, Shipping: 2, Statistics: 1, Maths: 3, IT: 7, Energy: 4, Applied Finance: 17, Economic Science: 9, International Studies: 2
Scholarship holders by University: Aristotle University of Thessaloniki: 6, International Hellenic University: 4, National Technical University: 3, University of Athens: 16, Athens University of Economics and Business: 34, University of Macedonia: 10, University of Piraeus: 21, Piraeus University of Applied Sciences (T.E.I. OF PIRAEUS) 6
Sex: Men: 32, Women: 68
Age: 22-24: 61, 25-29: 34, over 30: 5
• Acquisition of work experience, rewarding of excellence.
• Contribution to the reduction of unemployment.
The expected cost of investment in this social action is estimated at Euro 4,000,000 which includes the anticipated relevant remunerations and insurance contributions for the scholarship holders while employed. Seeking always to function as a socially responsible company, NBG enhances meritocracy and offers new opportunities to students who excel, by supporting their dreams and helping them on the path to success.
The importance and innovating feature of the Program were highlighted in various articles published in national newspapers and web-portals. Some of the testimonials of the Scholars are the following: “Thank you for the opportunity you offered me, you changed my life!”, “I have experienced other Internships in the past, but it is the first time in my life, I have the chance to obtain real professional experience through an Internship”, “The whole Program is a real challenge for participants!”, “Everyone is constantly there for me! Branch Executives, HR Executives! Thank you very much for everything!”, “I have a real job, where my supervisor and colleagues have made me feel as part of the team and make sure that I receive the appropriate guidance, coaching and support.”.
As a result of the successful implementation of the pilot NBG - IKY Internship + Scholarship Program as well as its extensive appreciation by both the academic community and local society, IKY secured additional funding from NSRF (National Strategic Reference Framework) to extend its implementation to other sectors and organizations as well.
Athens - Thessaloniki
Integration of new young highly qualified employees into the Bank's staff.
No Connection with Global Goals found