This is the key finding of new research by the Chartered Management Institute (CMI), which asked 1,000 parents of 16 - 21 year olds how
they valued Degree Apprenticeships and Chartered Status compared to traditional degrees.
Not exact matches
70 % of parents say a
Degree Apprenticeship is better
value for money, and two thirds of parents would still prefer their child took this route even if money were no object.
A report by the National Training Federation Wales entitled The
Value of
Apprenticeships to Wales notes that there is a «# 74 return for every # 1 invested compared to a # 57 return for every # 1 invested for the average
degree».
Astute young people and their parents are realising that a job with a
degree via an
apprenticeship in many circumstances has much greater
value than a
degree, debt, no grad job and little income.
Some high school seniors with specific high -
value technological knowledge and other marketable workforce skills, as well as those with the creative potential to become inventors or entrepreneurs, may be quite successful with postsecondary training or
apprenticeships other than a four - year baccalaureate
degree — or, they may want to spread their coursework and costs over a longer period than four years by attending classes part - time at a community college while working or starting a business.
«This could usher in a new form of
apprenticeship, one where companies train entry - level employees — with or without a
degree — in the skills they need to hit the ground running in their chosen profession and add
value to the organisation.
On the
apprenticeship front, an increasing number of employers are realising the
value in developing young talent, without the expectation of a
degree level education.