Up to 75 school leavers will get a major boost for their future careers this year with accountancy firm KPMG’s launch on Thursday [13 Jan 2011] of a ‘work and learn’ approach to bringing in new talent earlier into the organisation.

Working in association with Durham University and the Institute of Chartered Accountants in England and Wales [ICAEW], the six-year programme will pay selectees a salary, along with full university tuition fees, professional qualification fees and university accommodation costs. In London, the starting salary will be around £20,000, rising to around £45,000 in year six.

During the degree phase, which will last for four years, students will spend part of the time in residence at Durham University, where they will study at Durham Business School and part of the time working at KPMG.

Mark Protherough, executive director for learning and professional development at the ICAEW, says: “I can’t emphasise enough how radical this is.”

At the programme’s launch, KPMG leaders said it aimed to broaden access to the accounting profession and was initially targeting schools offering the highest percentage of free school meals to reach potential applicants. When the programme is broadened in future years, involvement will also expand to include other schools, potentially up to 400 participants [students].

The new approach is also intended to cut recruitment costs, they said, and will result in a reduction in numbers of graduates recruited into KPMG.