Fresh out of A-levels? UBL has a job for you. But what’s in it for them?

UBL is going old-school with their hiring. In a recent advertisement, the bank called on individuals between the ages of 18 and 24 to apply for an “Officer Grade IV Programme.” The catch? The applicants do not have to have educational qualifications beyond an intermediate level diploma. 

That means if you’ve completed your FsC or A Levels and are looking for a job, you can apply to UBL and join the bank as a junior officer without having an undergraduate degree. So why is UBL hiring kids fresh out of high school? According to the bank it is an effort to provide individuals that may not have had opportunities for further education an opportunity to enter the banking sector. But beyond these generic statements, the bank’s initiative could have larger implications — both on the banking sector and the skilled labour market. 

For starters it may be a comment on the quality of higher education in the country. For a while now many employers across different industries have felt that the average quality of young graduates is such that they have to be trained from scratch no matter what varsity they are coming from. Banks in particular have this problem of hiring graduates with a four year degree from top universities but still having to train them in elaborate Management Trainee Programmes. 

But beyond that it could also be a cost-cutting method. University graduates generally command higher starting salaries, and since most big banks tend to hire management trainees from elite universities such as LUMS and IBA the fresh graduates that join their ranks each year are often paid highly and unskilled in the working of the banking sector. The programme that UBL is offering hires these intermediate students at the lowest grade possible for banking officers and will pay them accordingly. 

So where does the reality of this programme lay? 

Skills versus education 

Globally, there has been a great debate on whether degrees are more important than skills or vice versa when it comes to hiring new talent. According to a Forbes article, in the United States, employers have started to focus more on specific skills rather than degrees. This is due to the increasing disruption caused by technological innovation in various industries. Digital skills are becoming essential in a wide range of occupations, and companies are restructuring their operations, necessitating changes in job tasks and descriptions. Moreover, traditional education systems have struggled to keep pace with these changes and provide the skills demanded in the evolving workplace. It has also led to a skills gap.

In Pakistan this is also a philosophy that has spread in recent times. People like Azad Chaiwala command massive followings and suggest that young students focus more on getting apprenticeships and learning skills rather than spending years getting a college education which will not prepare them for the practicalities of professional life. 

Employers in Pakistan have also expressed similar views. In an interview with Dawn, Asif Peer, CEO of Systems Ltd said that there are only a few universities producing good graduates which is not enough for sustainable growth. He added, “Now with changes in technology, you don’t really need a four-year program if you have good IQ, critical thinking, and analytical capabilities. If you can train them on specific skill sets — such as no and low code, configurations, and e-commerce — it doesn’t take them two years. It’s not an alternative, but this opens up the talent pool. We train them in specific areas based on our business requirements, say customer relationship management or e-commerce, assign them mentors and deploy them on practical projects. This can prepare a good resource in one year and is a win-win for both the employee and us.”

So what is UBL doing? 

Intriguingly, this program deviates from the norm by eschewing university graduates altogether. Instead, it sets its sights on a special demographic: high school graduates. This unique opportunity is designed for those who have only studied up to the Intermediate/ A levels. The target age group is the population between the ages of 18 – 24. 

So why on earth would UBL choose high school graduates over university graduates who are equipped with business acumen and have a stronger grasp of finance? Is this some sort of a Corporate Social Responsibility stunt? 

The CSR angle

The advertising headline reads “Hamare naujawan, hamara mustaqbil” which literally translates to “Our youth, our future”. This also seems to be the first time that UBL has developed such a programme which triggers a thought-provoking question: Is this job opportunity a clever ploy by UBL to fulfil their corporate social responsibility (CSR)?

Profit reached out to UBL to seek answers. “This is the first time that UBL has introduced an OG-4 officer grade program,” affirmed Tariq Sayeed Khan, Senior Manager Marketing Operations. “However, UBL regularly introduces new initiatives to bring on board talented individuals and enhance its job pool,” Khan added. Nevertheless, UBL denied that it was merely a CSR initiative. Khan clarified, “This is not a CSR initiative. The new hires will perform tasks and services as per their role and will be compensated for their work like any other employee.”

University graduates conundrum

As per UBL, the introduction of the Grade 4 Officer program for high school graduates is an effort to provide opportunities to individuals who may not have pursued higher education. Their contention is that just because one has not completed formal training from a university, it does not mean that they are unequipped or unable to handle working at a large bank. They believe that with the necessary training and guidance, these new hires can enhance their existing skills to effectively take on the roles and responsibilities allocated to them. Through this program, they aim to tap into a different segment of the workforce and benefit from their unique skills and perspectives.

But the burning question remains: Why does UBL want to tap into a new demographic? Could it be that university graduates are too expensive or less productive? Or is it a cost cutting measure?

UBL explained that their decision to introduce the program is not based on assumptions about the value or productivity of graduates from top universities. Rather, it signifies an expansion of recruitment options to include individuals with diverse educational backgrounds.

Is this a cost cutting measure?

While UBL vehemently denies that this program is a cost-cutting measure, it is undeniable that university graduates generally command higher salaries compared to high school graduates. Additionally, the bank aims to reach a lower-income segment – individuals who lack the resources to pursue higher education. This group is more likely to accept positions with lower remuneration. Moreover, with relevant education and experience, university graduates are also more likely to jump ship and change organisations when offered a higher salary. This might not be the case for high school graduates who would have to face hurdles in negotiating a better package because of lack of formal education. 

Is it even worth doing?  

Probably, yes. But only time will tell. The introduction of the “Officer Grade IV Program” by United Bank Limited (UBL) marks a significant departure from the traditional degree-centric approach to hiring new talent. Ultimately, the success of the “Officer Grade IV Program” will be measured by the bank’s ability to effectively train and develop these high school graduates into valuable assets for the organisation. If successful, this initiative could potentially serve as a model for other companies looking to bridge the skills gap and adapt to the changing demands of the evolving workplace. As the world continues to grapple with the ongoing debate of degrees versus skills, UBL’s bold move demonstrates a willingness to explore alternative avenues for talent acquisition and invest in the potential of the nation’s youth to shape a brighter future.