DRUGS giant GlaxoSmithKline has joined a growing band of firms that are funding trainees through higher education.
The company, which employs around 800 at its Barnard Castle operation, will pay the university tuition fees of its trainee graduates from 2012.
Under the scheme, the fees of about 100 graduates will be covered at a potential cost of around £3m a year - a fraction of GSK’s £4bn-a-year outlay on research and development.
Those who sign up would be required to stay with the company for at least two years.
GSK said the move was designed to attract and retain “that next brilliant scientist”.
A spokesperson for the Barnard Castle site - which is still in the running to host a new £300m biopharmaceutical factory - said: “We want to make GSK a highly desirable place to work - and attracting, recruiting and retaining talent are critical to the ongoing success of the company.”
The strategy - highlighted in the Gazette a few weeks ago - is designed to lessen the impact of the Government’s controversial plan to uncap student fees.
Expected to come into force in September 2012, the move will allow universities to raise fees to as much as £9,000, which students would pay back once their annual salary reached £21,000.
Following furious protests from students and unions, companies have pledged to stump up funds in a bid to nail down top talent.
In January KPMG announced it would fund students through a six-year programme that will lead to a degree and a nationally recognised chartered accountancy qualification.
Under the scheme, which starts this September, KPMG will pay the full university and professional tuition fees for each student and pay them a minimum £20,000-a-year salary.
Meanwhile another accountancy giant, Deloitte, is extending its scholar programme in which 50 students a year will be given funds to put towards their academic fees.
After completing their A-levels the students will complete a 30-week paid placement at the company, which will then pay them £1,500 to travel the world or take on volunteering work in another country.
Once they begin their degree course, they will receive an additional annual bursary of £1,500 and are guaranteed a minimum four-week placement during every year of their studies.
Paul Williamson, office senior partner at Deloitte’s North-east office, said: “We understand that not all school leavers are the same and we want to treat them as individuals.
“We have therefore worked on different packages, to give students the option to set their own career path with Deloitte.”
Private sector funding of higher education has drawn praise from senior politicians including David Willetts, the Minister for Universities and Science.
He has urged other companies to follow suit as part of a radical shake-up of higher education.
