A study has found that apprentices with the highest qualifications, which are equivalent to foundation degrees, are earning up to £50,000 more than some graduates over their lifetimes.
Apprenticeships are usually started after GCSEs and offers more skill-based training and qualifications than a more traditional university degree, but you can start an apprenticeship at any age.
A spokesperson said: “Today’s report shows that the best apprenticeships offer similar financial security as an undergraduate degree.” The study revealed that those who took level 5 higher apprenticeships will earn, on average, £1.44m in their working lives. This is around £52,000 more than a graduate who went to a non-Russell Group uni. Grads from Russell Group universities earn around £1.6m and Oxbridge grads can earn around £1.8m over their lives.
The main reason behind this huge salary boost is because graduates have debt once they come out of uni, both in tuition fees and living expenses. Apprentices can earn whilst they learn.
Sutton Trust, the think tank behind the research, found that 65% of secondary school teachers would advise their students to apply to university if they had the necessary grades over an apprenticeship.
Should you consider doing an apprenticeship to boost your CV?