Good Apprenticeships Could Earn Almost as Much as a Graduate Over a Lifetime

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A study has found a good apprenticeship could earn someone as much as a degree over a lifetime.

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A recent study has found that undertaking a good apprenticeship could be just as valuable as a graduate position over a lifetime. In light of this report, leading student management system provider Perspective is delighted to see that apprenticeships can now be valued in the same vein as graduates in terms of earnings over a sustained period of time.

The study, commissioned by investment specialist Skandia, looked into earning opportunities available to Britain’s young people and which routes would prove most fruitful in the quest of long term financial gain. Those who graduated with a degree are likely to earn, on average, over 50% more over their working lifetime compared to those who leave school at 18 to begin work. However, those who can secure a good apprenticeship have the opportunity to earn nearly as much as a graduate.

The study revealed that an average graduate should earn approximately £1,611,551 over a working career spanning 45 years, compared to £1,020,840 for some one who enters the workforce at 18. At the same time, an apprentice in the construction sector (one of the most fruitful sectors) could earn £1,503,726 over the same time period, whilst one in the health care, public services and care sector could earn, on average, £1,494,547. This figures drops even lower for a 16-year-old school leaver, with an average earning of £783,964 over a 49.5 year career span.

Paul Davis, managing director of Perspective, commented: “This research indicates how important undertaking an apprenticeship can be in furthering job prospects while at a young age. Although the number of graduates is continuing to increase, with the levels of youth unemployment increasing this research illustrates that apprenticeships can be just as important as a graduate position in the long term.”

Perspective is a leading provider of learning management systems. For more information about how Perspective’s individual learning plan software can assist your management of learners, please visit http://www.perspective-uk.com or call 0121 506 9540.

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Ben Leuty
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