Everything You Need to Know About Investec Bursaries
Investec is a leading financial services company that offers a wide range of banking, lending, investing and wealth management solutions. As part of their commitment to developing talent and empowering youth, they offer comprehensive bursary programs for students pursuing studies relevant to the financial sector.
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What is the Investec Bursary All About?
The Investec bursary program aims to assist academically talented students who need financial support to pursue full-time undergraduate or postgraduate degrees. The bursaries target students studying fields like:
- Accounting
- Actuarial Science
- Finance
- Investment Management
- Economics
- Law
- Engineering
- IT and Computer Science
By funding these students throughout their studies, Investec hopes to develop a pipeline of skilled talent for careers in banking and financial services.
The bursaries provide full study-related funding, covering all major costs like:
- Tuition and registration fees
- Textbooks and academic materials
- Accommodation and meals
- A monthly allowance for living expenses
In addition to the financial support, Investec bursars get access to top-class training, mentoring and networking opportunities, to give them a head start in their careers.
What Are the Requirements to Qualify for the Bursary?
Investec has high standards for awarding their bursaries, so you need to meet certain eligibility criteria:
- You must be a South African citizen with a valid ID.
- You should have achieved excellent academic results in Grade 12 or your undergraduate degree.
- You need to have secured admission to study a relevant degree at a recognized South African university.
- You should not be receiving funding from another company.
- Meeting the minimum requirements does not guarantee you will receive a bursary. The final selection is based on individual assessments.
Financial need is also an important factor in awarding bursaries. So even if you meet the merit criteria, you may not receive funding if you do not demonstrate need.
How Much Funding Do Investec Bursaries Provide?
Unfortunately, Investec bursaries are not structured with a set monthly allowance. Instead, they are designed to cover full study-related expenses. This can include:
- Tuition fees
- Residence fees
- Books and study materials
- Living expenses (food, transport, etc.)
The exact amount of funding provided will vary depending on your circumstances and the specific bursary program you receive. Some factors that may influence the amount include:
- Your chosen field of study (bursaries for fields relevant to the financial services sector may receive higher funding)
- Your academic performance
- Your financial need
However, it’s important to note that Investec bursaries are not simply grants. They also come with additional benefits, such as:
- Mentorship and career guidance
- Internship opportunities
- Networking events
These additional benefits can be invaluable in helping you to launch a successful career in the financial services sector.
When and How to Apply for the Bursary?
Investec generally opens bursary applications around April-May each year. The window closes in August-September. You need to submit your application online on their website.
The application process requires you to provide:
- Your academic history and results
- Proof of admission from your university
- Motivation detailing your interest in a financial services career
- Information about financial need
In some cases, you may also need to complete tests, interviews or other assessments as part of the selection process.
Investec will review all applications and finalize selections by December-January each year. If awarded a bursary, you will need to formally accept it in writing.
What Happens After You Get the Bursary?
If you are selected for an Investec bursary, you will need to enter into a contract and meet certain obligations to continue receiving funding each year:
- Maintain strong academic performance each semester or year of your degree.
- Remain studying in an accredited degree program relevant to Investec.
- Provide proof of registration and results at the start of each academic year.
- Commit to work at Investec for at least the number of years you received the bursary.
- Be available for vacation work and training during your studies.
Failing to meet any of these obligations can lead to your bursary being suspended or withdrawn completely.
What Are the Benefits of Investec Bursaries?
Investec bursaries offer several advantages beyond just the funding:
1. Mentorship and Guidance
Bursars are assigned mentors from Investec’s staff who provide support and guidance around:
- Setting career goals
- Planning work experience
- Developing skills like interviewing and CV writing
- Preparing for life after university
2. Work Experience Opportunities
During university holidays, bursars can get hands-on work experience through vacation programmes at Investec. This can include:
- Job shadowing
- Internships
- Workplace assignments
These opportunities help bursars learn practically and start building their professional network.
3. Networking and Skills Development
Investec provides platforms for bursars to connect and company executives through:
- Networking events
- Conferences
- Skills seminars
- Leadership workshops
This exposure helps equip bursars for succeeding in the workplace.
4. Employment After Graduation
Given their experience and developed skills, Investec bursars have an advantage when applying for jobs at Investec and are highly likely to secure placements.
FAQs About Investec Bursaries
How many bursaries does Investec offer each year?
The number may vary annually depending on business performance and need, but Investec usually offers 70-100 new bursaries each year.
What percentage of costs do the bursaries cover?
Investec bursaries are designed to provide full coverage of all study-related costs. The exact percentage covered for each student may differ based on their financial need and degree choice.
Can I hold another bursary along with Investec?
No, you cannot hold multiple bursaries simultaneously. You will have to choose between bursary offers and withdraw any other funding if accepting Investec.
When will I receive the bursary payments each year?
Disbursements are typically made at the start of each academic year or semester, upon submitting proof of registration. Subsequent payments may be made monthly or quarterly.
Can I change my degree after getting the bursary?
You need Investec’s approval to change your degree. It should still align with their focus areas. If not, the bursary may be withdrawn.
Conclusion
Investec bursaries offer comprehensive funding and support to empower South Africa’s future financial talent. If you excel academically but lack financial means, these bursaries can set you up for an enriching studying experience and a rewarding career. With thorough preparation and a strong application, you stand a good chance of securing one of these competitive bursaries.