The Royal Institution of Chartered Surveyors (RICS) is pledging £90,000 to assist talented students from underrepresented backgrounds in entering the property industry.
The initiative – the Chartered Surveyors Student Bursary Programme – was established by the Worshipful Company of Surveyors (WCCS) in 2019.
According to the RICS 2022 Insight Report, just 18% of RICS members are women. Meanwhile, only 27% of real estate industry professionals enter from lower socio-economic backgrounds, and just 6% of construction workers are from Black, Asian, or other minority ethnic backgrounds.
RICS says it is committed to breaking down barriers for under-represented groups and the contribution is a “tangible part of RICS’ broader inclusion strategy”.
The programme has secured pledges from over 30 companies in the property industry, raising a total of over £1m. This support has enabled the programme to assist around 40 students so far.
A property industry sponsor funds each student awarded the bursary, paying £10,000 a year for three years, covering the student’s university living expenses.
Aside from financial support, a bursary sponsor also provides the student with comprehensive pastoral support, along with advice and training for CVs, job applications, and post-workplace assistance, enabling the student to focus on their studies, achieve the best grades, and transition smoothly into the workplace. The students attend courses at the 57 UK educational institutions accredited by RICS.
RICS President, Tina Paillet, said: “There is still so much work to do to make the built environment a genuinely inclusive industry. RICS is making critical contributions to support change, and this initial commitment to fund the WCCS Bursary Programme represents a vital part of this ongoing project.
“I’d like to thank WCCS for allowing RICS to contribute to this excellent programme and the more than 30 firms for making their pledges. It is no small feat to bring together so many organisations and raise over £1m to improve access to built and natural environment careers. It is a testament to the sector working collaboratively to provide better outcomes for students and promote diversification.”
Simon Camamile, Master of the Worshipful Company of Chartered Surveyors, said: “We are absolutely delighted that RICS, who we have a very close working relationship with, has decided to join many other leading property companies is sponsoring our bursary programme.
“Talent is evenly spread across society, but opportunity is not. The Chartered Surveyors’ Bursaries represent an opportunity to really make a difference, not only to the lives of gifted students and their families, but also to support the future health of the property industry as a whole.”
