Tax credits for training.
Author | Hathaway, Jessica |
Position | TRENDS |
What do a boilermaker, a piano tuner and a dog handler have in common? It's likely they all completed an apprenticeship as part of their job training.
Paid apprenticeships are on the rise as interest in them grows. No longer limited just to trade jobs such as electricians and construction workers, apprenticeships are now encouraged for a variety of careers, including many in the areas of information technology, transportation and health care.
This "earn while you learn" approach to training prepares people for highly skilled jobs through classroom work and real-world experience.
Studies show that 87 percent of those who participate in an apprenticeship program are still employed nine months after completion, with an average annual wage around $50,000.
Nearly 448,000 workers are currently training in registered apprenticeship programs, and the federal Department of Labor plans on increasing this number by 34,000 in the next five years.
Despite the fact that training apprentices can be costly and time consuming, the Department of Commerce recently found that companies are enthusiastic about the idea because it helps fill otherwise vacant jobs.
Employers must be willing to commit to paying apprentices a fair wage and any other expenses training may require--ranging from $25,000 to $250,000 per apprentice.
Senior employees must also commit to training new employees over a considerable length of time, sometimes years. It varies by career.
To become an HVAC technician, for example, apprentices spend between 8,500 and 10,000 hours learning the ins and outs of all kinds of heating and cooling systems. To...
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