New research conducted by by a website that highlights career and education options for those not wanting to attend university has revealed that apprentices earn almost £4,000 more than graduates per year in their first job.
The study by www.notgoingtouni.co.uk polled 2,614 young adults, all of whom had started their first job after completing an Apprenticeship or degree in the last 12 months. According to the poll, those who undertake an Apprenticeship are likely to earn, on average, £3,729 more per year than those who have attended university in terms of their first job role afterwards.
Of those who had done an Apprenticeship, the main benefit was getting hands on experience while studying (42%), while 56% of those who went to university quoted being more qualified than some others going for the same job was the key advantage of their chosen route.
According to the survey, only 8% of the respondents who completed an Apprenticeship wished they had studied for a degree, whilst 33% of those who had graduated from university wished they’d opted for an Apprenticeship. When asked to state why, ‘to save getting in to debt’ (31%) and ‘full-time education wasn’t for me’ (24%) were the most common responses amongst the graduates.
All the respondents in the survey were asked the starting salary of their first job in their chosen field after achieving their qualifications. The results revealed that the average university graduate had a starting salary of £14,734, whilst those who had completed an Apprenticeship had an average starting salary of £18,463.
Fiona Mellett, Managing Director of Greater Manchester’s largest Apprenticeship provider The Skills Company said: “As we enter National Apprenticeship Week, the results of this survey clearly show that the Apprenticeship route is proving not only beneficial to companies who are investing in the future of their workforce, but also to the young people who choose this option. And the vast majority of these young people remain in employment with the company they have completed their Apprenticeship with, and they have been earning throughout their training.
“While university is right for many people, it isn’t for everyone. For those who prefer to learn on the job, and to get practical experience while getting qualified, Apprenticeships are the right option, and this study shows that the financial rewards are there for young people who work hard and achieve.”