College tuition prices across the United States have been skyrocketing with minimal signs of slowing down. In the past 20 years, tuition and fees for private and public universities have jumped significantly, with in-state tuition and fees growing by 175%. 1
When a dedicated degree may mean hundreds of thousands of dollars in debt, it’s worth considering your career path options before committing to the next step. Alternative options like Apprenticeship Programs can be a great way to gain valuable, on-the-job experience without financial hardship.
Let’s take a closer look at what exactly an Apprenticeship Program entails, and how that can compare with earning a college degree.
What is a Registered Apprenticeship Program?
Registered Apprenticeship programs are regulated, work-based learning programs that combine Full-Time Employment, On-the-Job Training (OJT), Related Technical Instruction (RTI) , and a Progressive Wage Schedule to create pathways into the workforce for apprentices and reliable talent pipelines for employers. However, there are many misconceptions surrounding Apprenticeships, including that these programs are limited to occupations like construction, plumbing, or masonry.
Apprenticeships are not synonymous with unpaid internships and do not apply exclusively to trades. Registered Apprenticeship Programs are available in hundreds of industries from chocolatiers to software engineers, preparing apprentices for long-term careers in the field of their choice.
Not only do apprentices benefit from being paid to learn new skills and work toward a stable career, but employers also benefit from developing a skilled workforce dedicated to their job. Apprenticeships are a great tool to address talent shortages and encourage long-term workers. And while Apprenticeships are known to improve productivity, profitability and the bottom line for employers, it’s important for employees to keep long-term personal and financial goals in mind when considering an Apprenticeship over a college degree.
Cost Comparison: Apprenticeship vs. College Degree
Many Apprenticeships are virtually free for apprentices, offering payment during the program and sometimes a full-time job opportunity once completed. Though each Apprenticeship Program is different, these programs provide apprentices with an opportunity to jump straight into the field while developing employable skills for the future.
On the other hand, a college degree can be a costly venture and, depending on your degree, does not always guarantee a high-paying job upon graduation. Not only are annual costs continuously increasing for national universities, but the ever-inflating costs of textbooks, class materials, room and board, and any necessary tech equipment push a college degree out of reach for many Americans.
According to The College Board, the average annual cost (including tuition, fees, and room and board) for a student attending a four-year public college or university in the United States during the 2022-2023 academic year was around $28,950 for in-state students and $41,470 for out-of-state students. For private universities, this annual cost is almost $50,000, increasing to nearly $70,000 for most Ivy Leagues.
While the average cost of college varies depending on the field of study, type and length of degree, and whether or not you live on campus, the tuition-based costs are still far from affordable. And while it may be tempting to make your decision solely on finances, let’s take a closer look at the pros and cons of a Registered Apprenticeship Program, beyond cost.
Pros and Cons of a Registered Apprenticeship Program
There are several pros and cons to consider when comparing a Registered Apprenticeship Program (RAP) to a college degree.
Pros of an RAP:
- RAPs often lead to well-paying jobs with good benefits.
- Apprentices earn a salary throughout the program.
- RAPs can lead to jobs that are in high demand.
- Apprentices receive on-the-job training, which can be more relevant to the job they will be doing than classroom instruction.
Cons of an RAP:
- Apprenticeships can be more difficult to find than college programs, particularly in some fields.
- College degrees may be preferred by some employers over an Apprenticeship certificate.
- Depending on the program, an apprentice’s wage might start lower than it would otherwise.
Pros and Cons of a College Degree
In addition to the exponential cost, intense time commitment, and higher earning potential, there are several pros and cons to be aware of when considering a college degree.
Pros of a college degree:
- College graduates typically have higher earning potential than those who do not have a degree.
- A degree can open up more job opportunities and make it easier to switch careers.
- College can provide a broader range of knowledge and a well-rounded education.
- College degrees are widely recognized and respected.
Cons of a college degree:
- College can be very expensive and take a long time to complete.
- College graduates may face high levels of student loan debt.
- Some college graduates may find that their degree is not directly relevant to the job they want to do.
- College education does not provide the same level of hands-on job training as an Apprenticeship.
Should Employers Look to Apprentices to Fill Their Talent Pipeline?
Apprenticeship programs can be an ideal way to gain exciting talent quickly, but whether it’s the best option for your organization will depend on the specific needs of your company and the type of position you need to fill. Though many apprentices have flexibility in what skills they are willing to learn on the job, some roles may be better suited for an employee with a college degree.
Overall, employers can take advantage of Apprenticeship programs by training new apprentices in a specific way and highlighting specialized skills needed, to ensure apprentices are perfectly trained for their business. And while there are certain fields that will always require a college degree, such as Law or Medicine, many benefit from employees who have a combination of education-based knowledge and on-the-job training.
Therefore, employers should consider which skills and qualifications are needed for a particular position and evaluate candidates based on those criteria, rather than solely focusing on whether they have an Apprenticeship credential or a college degree.
Related Content: Why Community Colleges Should Become Apprenticeship Sponsors
How to Launch a Registered Apprenticeship Program
The benefits of Apprenticeship programs are continuing to spread, but many employers and businesses are still unsure how to launch their own program. Before jumping right into it, there are some foundational things to know.
Employers will need to prepare quite a bit before launching their program, but this is all made easier with the help of an Apprenticeship software management tool. These tools allow employers to build a program, develop partnerships, register the program, launch it, gain interest from apprentices, and oversee the program for the long haul.
Additionally, employers will need to keep records on the recruiting and hiring processes, progress made by the apprentice on-site and in technical instruction, as well as the apprentice’s evaluations, wage progressions, and competencies mastered. Employers will also need to track the Standards of Apprenticeship and keep records of apprenticeship agreements. Tools like ApprentiScope take all the guesswork out of building and tracking your Apprenticeship program, making it easier than ever to find new talent.
Takeaway
Apprenticeship programs and college degrees each have their own unique benefits and drawbacks, including time and money spent, likelihood of work after completion, and possible limitations on job offers themselves. Ultimately, choosing the right path will come down to personal preferences, long-term career goals, and the career field of interest.
Employers should keep both routes in mind when searching for new talent and consider the validity of both experiences. Take advantage of in-depth online tools like ApprentiScope to build your own unique Registered Apprenticeship Program and start nurturing top talent.
[1] https://www.usnews.com/education/best-colleges/paying-for-college/articles/see-20-years-of-tuition-growth-at-national-universities#:~:text=Tuition%20and%20fees%20at%20private,the%20most%2C%20increasing%20175%25
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