Senior representatives from Lloyds Banking Group and the University of Birmingham are providing guidance and support to young people as part of Andy Street's Mayor's Mentors Programme.
The two organisations have identified 20 volunteers who will mentor 16 - 18-year-old students at the University of Birmingham School.
The mentors will support their mentees through a series of one to one sessions over the next nine to 12 months.
Launched in 2017, Mayor's Mentors links people who have been successful in their careers with young people in the Midlands, to help them develop the life skills they will need for their future careers.
To support the programme, Lloyds Banking Group and the University of Birmingham have provided comprehensive training to the mentors and will give them the time to complete their mentoring duties during working hours.
Speaking about Lloyds Banking Group and the University of Birmingham's involvement in the Mayor's Mentors programme, Andy Street, said: "We are currently working with 1,300 young people through the Mayor's Mentors programme and having important regional partners like Lloyds and the University of Birmingham on board is a huge boost.
"I know from my own experience how having a mentor can help accelerate the progress of a young person in the world of work.
"I am pleased we are continuing to build momentum and am grateful for the ongoing support."
Martin Dodd, Lloyds Banking Group's Ambassador for the Midlands, said: "We have a long history of collaborating with the University of Birmingham, most recently through the launch of the Lloyds Banking Group Centre for Responsible Business.
"The success of our partnership is built on our shared values and dedication to supporting local communities.
"Both of our organisations operate successful mentoring programmes that have benefited the career development of our colleagues.
"We want to extend that valuable expertise to support young people as they enter the world of work and help to set them on the right path for a successful future.
"For our mentors it's a unique opportunity to really make a difference to a young person's life and contribute to Lloyds Banking Group's commitment to helping Britain prosper."
Professor Richard Black, Pro-Vice-Chancellor and Head of the College of Social Sciences, who is also a Governor of the University School, commented: "The Mayor's Mentors is a brilliant initiative that not only benefits the young people taking part, but also the mentors themselves.
"The University of Birmingham is delighted to support this scheme and to work with Lloyds Banking Group to help make it a success."