The benefits of hiring an apprentice are widely discussed, but what about the perks of becoming an apprentice?
Here we take a look at some of the advantages you could enjoy by applying for an apprenticeship.
The key difference between an apprenticeship and training schemes or university courses is that you don’t have to pay any fees or take out any loans.
Thanks to a tax called the Apprenticeship Levy, which is paid by businesses who have a payroll of more than £3 million per year, the cost of your training will be covered by the business you work for.
The only cost comes in the form of day-to-day expenses like your travel and lunch. You’ll also avoid being lumbered with expensive students loan repayments when you start working
What’s more, apprentices aged between 16 and 24 who act as a carer are also entitled to a £1,000 bursary to help with additional costs.
Earn While You Learn
Another financial bonus of doing an apprenticeship is that you can earn while you learn – you’ll be paid a salary from day one of the training course.
From April, the national apprentice salary for 16 to 18-year-olds will be £3.90 an hour, although many employers pay more as an incentive for you to join their business.
Better Preparation For A Career
Universities may give students a wealth of knowledge, but one common criticism is that graduates often require some time to bed into their new jobs as they lack the commercial skills needed to excel in a business environment. This isn’t the case with apprenticeships, and 90% of apprentices remain in employment after finishing their apprenticeship, with 71% staying with the same employer.
Jump Into A Better Starting Salary
The average starting salary for a university graduate is £14,734, whereas someone who has completed an apprenticeship will earn an average of £18,463 per year once they’ve finished their training.
Here at Code Nation, that figure is likely to be even higher. The average starting salary for Junior Developers who graduate from our Master: Coding course is £23.5k.
Given that university courses usually take far longer than apprenticeships, you could reasonably expect your salary to be far higher compared to a university graduate of the same age, especially given that 23% of former apprentices are promoted within 12 months of completing their apprenticeship.
Job and Career Satisfaction
Going straight into work or heading to university used to be the norm, and because of that, there hasn’t been enough consideration of its benefits; it’s just an accepted path. Juxtaposed to this, 89% of all apprentices report being satisfied with the experience, and 83% noted that their career prospects had improved as a direct result of the apprenticeship.
There are plenty of benefits to being an apprentice, both in terms of financial rewards and personal satisfaction. So what are you waiting for? Apply for an apprenticeship and get on the path to your ideal career.
Get in touch with us today to find out what your apprenticeship options are!
Call: 0333 050 4570