Apprenticeships preferred over degrees, survey finds

More than two-thirds (66.7%) of finance professionals would choose to do an apprenticeship over studying for a degree, with 53.4% believing that apprenticeships are better for a person’s career prospects.

Research by CV-Library of 1,200 UK workers also revealed that while 83.3% of finance professionals haven’t done an apprenticeship, 94.4% believe an apprenticeship can provide a worker with the skills needed to succeed in their career. Other key findings from the study include:

  • A staggering 94.4% of finance professionals think apprenticeships can be helpful for bridging the skills gap.
  • 6% think more can be done to promote these schemes, with 35.5% stating that it’s down to the government.
  • 7% believe more information should be provided to students in education and 25.8% would like to see more businesses promoting these schemes at careers fairs.

Lee Biggins, CEO of CV-Library said: “It’s not overly surprising that UK professionals feel so strongly about the benefits of apprenticeships, especially those in the finance sector, a very skilled industry. Not only do they provide workers with qualifications, skills and industry knowledge, they also give individuals fantastic experience, so that they’re ready to contribute to your company right away!

“My advice to employers in the industry would be to seriously consider more applicants who have done an apprenticeship and to create more opportunities for them within your own firm. These schemes, as proved by the data, could help to bridge the skills gap, aid the economy and play a vital role in training a worker with specific and relevant knowledge of the sector.”

The findings come just in time for the start of National Apprenticeship Week, an annual celebration dedicated to acknowledging the impact apprenticeships have on the individuals who do them, employers and the wider economy.

Biggins said: “In order to support and maintain this steady flow of people doing apprenticeships, we need to do what we can to enlighten them on these opportunities correctly. Advertising the opportunities your firm can provide at events such as careers fairs and guest talks to students is very important and could help significantly with your hiring efforts this year.”

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