Universities and employers are teaming up to offer a Masters degree programme to fast track the careers of IT graduates from September this year.

The scheme is designed to run in parallel with an employee’s day job, and students will be able to add credits at their own pace using a modular system. It aims to help answer the skills crisis facing the technology industry.

The problem is that entry-level jobs are increasingly sent offshore, which leaves people at the start of their careers unable to get on the bottom rungs of the ladder, said Karen Price, chief executive of sector skills council e-Skills UK, the main architect of the qualification.

“It is critical for the UK to operate in a global economy,” said Price.

“We still have higher-level jobs in the UK, but without the ability to develop the careers of new entrants, we will eventually run out of highly-skilled people to fill the top-end jobs because we will not have trained them,” she said.

The programme has been put together with support from the Higher Education Funding Council and leading industry names such as BT, EDS and Microsoft.

Applicants will be able to choose technical and business modules that are focused on project management and finance.

Because it is run through employers, and involves relatively little time away from work, the programme will help smaller firms compete for talent.

“Smaller companies that are finding it difficult to win against the larger ones will be able to attract more candidates,” said Price.

Technology firms recognise that they have a common problem, said BT head of education and engagement Pat Hughes.

“Training is a process with a long lead time so we will have a problem in the future if we do not start now,” he said.

“We need to move the graduates to a higher level very quickly and we need them to understand IT in relation to the business needs.”

On-the-job training is crucial in attracting the best possible recruits, said Hughes.

“We are fighting over the top graduates ­ it is not just us interviewing them, they are interviewing us and asking how the company can develop their career,” he said.