Payback in less than three years
Research published by the Apprenticeship Ambassadors Network (AAN) reveals that apprentices ‘pay their way’ and employers see a return on their investment.
The average cost and payback time of engineering apprenticeship costs £28,762 (net cost at the end of the apprenticeship) on average – the highest of any subject area – with a payback of less than three years.
One in construction costs £22,043 (payback: less than two years); the cheapest is one in retail, which costs £2,300.
Sir Roy Gardner, chairman of the AAN said the “robust” research make for a strong business case: “The findings confirm that apprentices pay their way and employers see a visible return on their investment in a relatively short period of time.”