Since the spectrum of apprenticeships is so diverse, you might receive a minimum wage to competitive pay for the profession. Knowing if you get paid for college apprenticeships is important.
It is entirely up to you to choose an apprenticeship that makes the best of what you are capable of. In general, the salary would be determined by the following three factors:
- the industry you work in
- the degree of your apprenticeship
- and your boss
Any employers can offer compensation depending on what you contribute to the job, but you will eventually receive whatever is agreed upon in your employment contract.
However, it is not only about the money; they can even give you benefits such as pension payments, success bonuses, or discount plans, among other things.
What is the apprentice’s living wage?
As a student, you would be paid the apprenticeship minimum wage (MW) of £5.28 per hour.
Most employees give more than the minimum. After all, they choose the best apprentices for the job, much as you want the best position for yourself.
Many higher and degree apprenticeships advertise rates ranging from £18,000 to £24,000 a year, and everything beyond that would be labelled as “competitive.” Which are, to put it mildly, very competitive.
|
POSITION |
INDUSTRY |
AVERAGE SALARY |
|---|---|---|
|
1 |
Banking / Finance |
£21,799 |
|
2 |
Accountancy / Actuarial |
£20,828 |
|
3 |
Energy / Utilities |
£20,482 |
|
4 |
IT & Consultancy |
£19,211 |
|
5 |
Insurance, Asset and Investment Management |
£18,431 |
|
6 |
Business & Other |
£18,360 |
|
7 |
Engineering / Manufacturing |
£18,298 |
|
8 |
Hospitality, Leisure & Tourism |
£17,388 |
|
9 |
Construction, Real Estate and Property |
£17,233 |
|
10 |
FMCG / Retail |
£16,862 |
|
11 |
Science & Pharmaceuticals |
£16,200 |
|
12 |
Government & Not for Profit |
£14,946 |
|
13 |
Law / Solicitors |
£10,400 |
However, be aware that broad generalisations regarding apprenticeships sometimes miss the mark. They are exciting because of their variety. And in any case, salaries vary significantly throughout each industry.
For example, if you look at the averages, you’d assume an accountant’s apprentice will still earn more than a lawyer. But what if the law student sits on a significant sporting brand’s legal team? And what about the accountant for a nearby cafe?
What other work opportunities may I anticipate?
Expect to get compensated for the holidays. And, whether you make sufficient money, a savings plan. But, beyond that, everything is determined by the contract.
Employers may assist you with relocating or seeking housing or provide you with access to a business vehicle or recreational facilities, for example.
Or you might get a free business pen and a kiss on the back. After that, it’s at their mercy, and it’s up to you to bargain whether there’s anything you’d find important.
Are apprentices paying during their college or university days?
Yes. You will be paid for your time at the rate specified in your employment contract. Examine any actual job openings to get a sense of what you could get.
Apprenticeships enable you to gain as you train and obtain a certificate simultaneously. You’ll even acquire the necessary job experience at several of the world’s largest corporations and get paid for college apprenticeships!