Apprenticeships can provide earnings boost
Dependent upon the industry sector that they work in, those employees in possession of a vocational qualification are more likely to receive increased earnings according to a new report published by The UK Commission for Employment and Skills.
The research illustrated that workers with a level 3 apprenticeship earn an average of 22 per cent more than those individuals without such qualifications. Other vocational qualifications, such as City & Guilds, RSA, and BTEC all boosted earnings to a greater or lesser extent, by a difference of between 5 and 23 per cent.
The research also revealed that vocational qualifications are far more influential in some industry sectors than others, the extend depending upon how much practical experience is an advantage. The industry providing the biggest improvements in earnings to those with academic awards is that of construction, whereas they make little difference in the finance sector.
The method of achievement of such qualifications also has an impact, with companies providing greater financial rewards to learners who took the exams through them, rather than at a college or university.
“Vocational qualifications have long been considered the poor relation to their academic counterparts, but this research shows that many vocational qualifications provide real and tangible benefits to both employers and individuals, sometimes providing pay increases which nearly match those expected from academic qualifications,” said Chris Humphries, Chief Executive of the UK Commission for Employment and Skills. “This is particularly remarkable when you consider that academic qualifications usually take much longer to achieve.”
Paul Davis, Director at Perspective, commented: “It is great to see the benefits of completing a vocational course being realised financially in the workplace, and this proves the value of apprenticeships and diplomas to the UK economy.”
