Mayor Adams and Chancellor Banks Launch Historic Corporate Apprenticeship Initiative for High School Students

Mayor Adams and Chancellor Banks Launch Historic Corporate Apprenticeship Initiative for High School Students

A new public-private partnership program was unveiled on Monday, September 12th, by New York City Mayor Eric Adams and Department of Education (DOE) Chancellor David Banks to place high school students in corporate apprenticeships at renowned companies over the next three years.

Banks and Adams made the announcement at JPMorgan Chase’s headquarters in Midtown Manhattan. Several administration officials, as well as JPMorgan Chase Chairman and CEO Jamie Dimon, were in attendance.

The Career Readiness and Modern Youth Apprenticeship (CRMYA) program is an extension of the city’s Student Pathways initiative. CRMYA promises to connect 3,000 New York City public school students from 50 different schools with apprenticeships at companies specializing in finance, business, and technology.

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Chancellor Banks stated that enrollment is falling in all city schools because “schools aren’t speaking to students’ passions,” and CRMYA is a way to rekindle those passions by tying classroom learning to real-life experiences.

He added, “Career-connected learning informed by expanding on our quality career and technical education programs will ensure that New York City public school students graduate with real-world skills and experience.”

According to Banks, participants in the program will gain skills that will prepare them for both the working world and college education while earning entry-level wages that range from the minimum wage of $15 to $25 per hour.

According to Mayor Adams, working with the private sector on initiatives like CRMYA is the best way to improve access for underserved youth to the employment opportunities that they have previously been excluded from.

The mayor announced that the city would contribute $33 million to the program, and Bloomberg Philanthropies, managed by former mayor Michael Bloomberg, will contribute an additional $8 million.

CRMYA will also provide career-readiness skills to 15,000 9th and 10th graders in 50 schools, according to Banks. The program will also provide teachers with work experience in these companies, allowing them to better reinforce everything students learn through their learning.