Apprenticeships are a practical and affordable route to a fun, well-paying and stable career without the need for an expensive classroom-based university degree.
The Biden-Harris Administration has invested more than $244 million in registered apprenticeships through two grant programs aimed at “modernizing, diversifying, and expanding registered apprenticeships.” This fund will make skilled trade apprenticeships more accessible (and more attractive) to more people, including minorities, in line with labor standards and equal opportunity legislation. In fact, apprenticeships are becoming increasingly popular as an alternative to already expensive and debt-laden four-year degrees as a route to a high-paying, long-term, skilled trade career. In fact, the U.S. Department of Labor reveals that workers who complete an apprenticeship can earn up to $240,000 more over their lifetime than they otherwise would (and an additional $300,000 with benefits).
Ethnic minorities receive high-growth skilled skills training
$195 million of the new funding went into the Apprenticeship Building America initiative, which aims to increase apprenticeships across high-demand industries such as clean energy, IT, cybersecurity and advanced manufacturing. More than $80 million will specifically support apprenticeships for people with disabilities, women, and minorities, including justice personnel, and a further $30 million will support youth and young adult apprenticeships more broadly. This legal and economic protection will make it easier for people from underrepresented groups to learn skilled trades and pursue well-paying, stable careers. The framework is based on the regulations set out in the National Apprenticeship Act 1937, which provides for a formal registered apprenticeship system. Title 29 of the Act, CFR Part 30, defines equal employment opportunity standards and prohibits discrimination on the basis of race, color, sex, sex, disability, or religion in apprenticeship programs.
Notably, minorities are less likely than whites to attend and graduate from college because they generally face greater economic barriers, a Center for American Progress study found. Additionally, college-educated minorities typically end up taking out more expensive loans and taking on more debt. Skilled trade apprenticeships, on the other hand, are a low-cost and accessible alternative for minorities. In fact, the number of Asian female apprentices, for example, increased by 302% between 2014 and 2023, and the number of Latina female apprentices increased by 349%. The number of black female apprentices also increased by 222%.
Apprentices and skilled tradesmen earn higher salaries
Careers in the skilled trades, entered through apprenticeships or on-the-job training, are also often very well paid. For example, elevator and escalator installers and repairers (those who install, repair, and maintain elevators and escalators) earn a median annual salary of $102,420, according to data from the Bureau of Labor Statistics. The most common route into this career is a four-year apprenticeship organized by an employer, trade union or trade association.
Inside the elevator. Image by Petr Magera, via Unsplash.com.
Alternatively, boilermakers (people who install and maintain boiler systems) earn an attractive median annual salary of $71,140. Again, an apprenticeship is usually required to get into this industry. Additionally, Boilermakers is expected to have at least 1,000 job openings each year for the next 10 years. Compared to apprentices, the average college graduate has a lower starting salary of about $56,000. Despite this, 97% of college graduates say they would be dissatisfied with a salary of less than $70,000 in their first job.
Start a profitable career without debt
A skilled trade can also help you avoid the high tuition fees associated with a bachelor’s degree. The average annual tuition and fees for a full-time undergraduate student at a public institution was about $27,100 in 2022-2023, the National Center for Education Statistics found. For private institutions, this number is even higher ($58,600). However, because apprenticeships are usually sponsored by an employer, trade union, or trade association, apprentices can avoid debt altogether. In fact, “87% of apprentices are hired after completing their apprenticeship program, and the average entry-level salary is more than $50,000,” Bloomberg reports. The combination of high salaries and zero debt makes a career in the trading industry an increasingly attractive option.
New bill allows low-income parents to get apprenticeships
The Apprenticeship Opportunity Act was also recently introduced in Congress in an effort to increase participation in apprenticeship programs through improved cash assistance for trainees. Because apprenticeship programs may include unpaid classroom training during the initial period, some apprentices (such as those with families or dependents) may find it difficult to afford to complete the program. there is. This legislation seeks to “create an exemption for apprenticeship income from Temporary Assistance for Needy Families (TANF) eligibility criteria.” Therefore, this means that states that receive fixed TANF block grants will no longer base their eligibility for cash assistance on the starting salary earned during the first year of an apprenticeship. Therefore, this legislation will make it easier for parents to enroll in apprenticeship programs and transition into new careers while continuing to support their families.
Apprenticeships and skilled trade careers are becoming increasingly attractive alternatives to traditional career paths. And it’s easy to understand why. Apprenticeships are a practical and affordable route to a fun, well-paying and stable career without the need for an expensive classroom-based university degree.
