The opportunity to climb to a higher social status or economic position is a challenge faced by many, says Tariq Bokhari, executive director of Carolina Fintech Hub. He created the Career Technology Apprenticeship Cohort program in 2017 to help end that upward mobility battle, especially for those seeking a career in tech.
On Aug. 11, Ally Financial Inc. (NYSE: ALLY) — a partner in the program since it started — hosted a graduation ceremony for Carolina Fintech Hub’s CTAC class of 2022. The event, held at Ally Charlotte Center in uptown, honored 46 students who completed the fourth CTAC program. Their average age is 30.
The graduates, who initially had little to no prior technical background in coding, completed a 24-week course. They learned how to code, received workforce preparation and were given resources for success in their careers. The program helps students transition into roles at Charlotte fintech and technology companies.
The CTAC program, backed by several major banks and employers here, was created to provide upward mobility opportunities, specifically for economically challenged communities. It was designed to increase the number of diverse candidates pursuing technology careers. Since the program was founded, there have been more than 160 graduates, all of whom became employed with a $55,000 average starting salary.
During the program, participants are paid about $2,500 a month, with access to services such as child care, housing and transportation to support their educational pursuits.
“When you can go in and create another channel of talent — not just regular talent, but tech talent, with the X-factor, that people that come out of these programs that were driving an Uber or working at Target have the aptitude but never the social capital to go to school and learn it, and we end up coming in and teaching them the right way — they end up being these amazing resources," Bokhari said. "It's just the competitive advantage for us as a city. Talent is the fuel of every city's engine.”
Bokhari said it can be challenging for employers to find qualified tech candidates that meet their needs. That includes bringing on more diverse talent. Bokhari plans to make the CTAC program sustainable and adapt it to the city's future by consistently training reliable and unique technology talent.
He said he aims to enhance the local pipeline of high-demand tech talent by recruiting younger participants into the program.
“Programs like this are important,” said Pasha Maher, managing director of Carolina Fintech Hub. “It gives people hope. It gives people from nontraditional pathways opportunities, and it gives employers really great employees — qualified, diverse candidates that they can't find in other ways. Every single potential prospective company who thinks about moving to Charlotte, the first question they ask is, ‘How can we hire for people here?’ And they want to make sure that there's a pipeline of senior developers waiting for the next opportunity.”
But what happens to those who don’t make it into the CTAC program?
Bokhari said about 1,500 people apply to the program and roughly 50 applicants are accepted. He plans to fine-tune the learning process so students can practice the material on their own. That includes providing applicants who were unaccepted into the program with resources to learn about technology topics. He said this could improve applicants' chances of being accepted into the program the following year.
Maher said the next cohort will start in March 2023. Applications will open on Sept. 1.
“We're not putting people into a job that just pays more," he said. "We're putting them in a career where our goal is where they ultimately advance to wherever they want to go. So that means continued education after the program as well.”
