Degree or Apprenticeships? Which Will Benefit You More?

Posted on October 31, 2017
4.9 / 5 Based on 1089 Reviews
Read all reviews »
Share
Tweet
Share

Is university still the right way to go? Apprentice electrician, Marcus, drives a Mercedes and is expected to be earning £50,000 by his mid-20s, while graduate Ashley is left with debt and unable to afford petrol or rent.

Marcus, who is only 21, decided to start an apprenticeship as an electrician is now earning £27,000 a year. Due to a shortage of skilled workers within the trades industry Marcus’s expertise is in high demand – it was revealed last month that electricians can expect to earn £156,000 annually.

Ashley, on the other hand, who was told that if she had a degree she “would always find work” has found that the advice isn’t quite as fitting as she is now £31,000 in debt and earning £7.50 an hour.

Marcus, who is hoping to be earning £50,000 a year by his mid 20s, decided academia wasn’t for him after sitting his GCSE’s. “It wasn’t that I was incapable — I was always driven,” he says. He began his four year apprenticeship in electrical installation whilst shadowing a qualified electrician four days a week and spent only one day a week in college. Only on a meagre wages (£2.64 that later rises to £6.20) an hour, Marcus admitted to struggling. “I was too tired to go out after work. I felt I was missing out, but I matured and adapted quickly.”

Marcus, who qualified as an electrician just two years ago, has already set up his own company, and with a booming business within 6 months, he hired an apprenticeship of his own. “My university friends say I’m earning so much money,” he says, adding with admirable humility: “But it’s not that I’m doing better than them — I’ve just been working longer.”

What do you make of apprenticeships?

Source

Related Articles:

Our Reviews

4.9 / 5 Based on 1089 Reviews
Read all reviews »
*This indicative price is for £1m public and products liability, £250,000 legal expenses, £10,000 financial loss and £10,000 accidental death insurance cover for a sole trader. The price includes insurance premium tax and our admin charge. 22% of new customers paid less than £58 between 1st January 2019 and 31st August 2019. The actual price you pay will depend upon your specific business requirements and will be affected by your trade, your claims history and the optional covers you select which are all priced separately during the quote process. This website is intended for customers based in the UK and is therefore subject to the UK regulatory regime(s) © Copyright 2019 Tradesman Saver | Tradesman Saver and Henry Seymour & Co. are trading names of Barkdene Limited which is authorised and regulated by the Financial Conduct Authority (FRN 303965) for our insurance distribution and credit broking activities. Barkdene Limited is a credit broker not a lender. You can check this on the Financial Services register https://register.fca.org.uk/.
Registered in England No 1842617. Registered Office – Seymour House, 223 Wickham Road, Croydon, Surrey CR0 8TG. All rights reserved.
Get a Quote