GlaxoSmithKline (NYSE: GSK) is offering to pay as much as $42,000 in tuition for promising college students who are recruited by the international drug giant – in the U.K.
The tuition comes on top of what the company calls “highly competitive compensation packages.”
“The company believes these measures will help ensure that GSK remains a highly desirable place for graduates to consider working upon leaving university,” GSK said.
GSK is based in London. It operates the company’s US headquarters in RTP and employs some 5,000 people in the area.
The tuition program was announced Wednesday in response to expected increases in tuition fees to be imposed by the U.K. government. The GSK Graduated Training Program recruits between 50 and 100 students per year,
“Successful applicants are already offered highly competitive compensation packages,” GSK said in an announcement. “However, it is anticipated that forthcoming changes to tuition fees proposed by the UK Government will result in students incurring uncapped fees of up to £27,000 ($43,200) for a three-year undergraduate degree course (£9,000, or $14,400 per year).
“As a result, GSK has taken the decision to reimburse 100% of uncapped tuition fees for all undergraduates recruited in the UK. These payments will be made upon the commencement of full employment and will be conditional on the employee remaining with the company for a minimum of two years.”
Read the full announcement here.
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