Today (15 December 2016) the Government released statistics showing the average earnings for adults up to four years after completing apprenticeships between August 2010 and July 2013.
Comparing the figures with Government statistics for graduate earnings, independent education charity, the Edge Foundation, found that:
· Three years after completing a Higher Apprenticeship at Level 4, people on average earn exactly the same (£22,000) as someone who completed a Degree (Level 6) three years ago, but they have no debt
· The average young person completing a Level 3 apprenticeship (equivalent to A-Levels) earns more four years after graduating (£20,300) than the lower quartile of University graduates a decade after finishing their course.
· The average young person completing an Apprenticeship at Level 5 earns more two years after leaving (£27,800) than the average graduate five years after leaving (£26,000).
Edge Foundation Chief Executive, Alice Barnard, commented:
‘These figures reflect the value which employers place on work-place learning, practical experience and the skills which you can acquire with an apprenticeship. Increasingly young people are realising that an apprenticeship not only offers the opportunity to gain professional qualifications and work-place skills, but is a meaningful route to a rewarding and often lucrative career.
‘These statistics challenge the received wisdom that a higher education equals a higher salary. Young people need access to quality careers information, advice and guidance to ensure they are aware of all the options available to them, not just the default route to university and a low wage.’