We are approaching a time where the lives of thousands of young people are at a crossroads. Significant life decisions are due to be made in their lives: whether to continue with further education either in university or to go down the vocational trade route.
Despite having their own perceptions and stereotypes, these two routes are not so different from one another as was once assumed; you can achieve great levels of success travelling along both paths. However, it might surprise you to discover that our typical impressions of the route into the trade industry, for example, are somewhat different to what we are brought up to expect.
Outdated stereotypes and preconceived notions have caused the trade industry to be disregarded as a plausible alternative to university. Below, we observe the results of a recent study commissioned by Selco, which surveyed 500 manual skilled workers to see how they are faring in the trade industry. Here we consider the real benefits of being aware all career options. You never know – it might be the very thing you’ve been looking for.
The most startling figures uncovered by Selco determine that tradespeople are, on average, far more financially stable than students after their education is complete. While the average student debt is around £45,000, the typical tradesperson’s debt is at only £5,600.
This can be explained by the fact that tradespeople are able to earn a salary much earlier on in their careers; vocational training courses also tend to be shorter and more inexpensive than university courses. Students will typically have to wait beyond their graduation until they can find employment, and are then playing catchup to pay back their fees.
Not only this, but having fewer debts will allow for greater financial flexibility and even opportunities for investment. 70% of tradespeople asked have savings, and ⅓ said they invested their earnings in ventures such as property, stocks and shares, or crypto currency, allowing them to grow their wealth and continue to remain financially stable. Such opportunities seldom lend themselves to students who have to scrimp and save throughout their degrees.
Not only are tradespeople earning earlier in their lives, but they are typically earning more, sooner. A living wage can be expected to be earnt by age 22 as a tradesperson, and while this is also a possible achievement for a university graduate, it can take as long as age 29 before they can earn the same.
It goes without saying that money troubles and financial comfort lend themselves to all other kinds of benefits in life. 73% of tradespeople asked in the survey said that they were happy with their jobs, which is considerably higher than the average figure of UK job satisfaction, between 41-65%.
But why is this figure significantly higher than the rest of UK workers? The primary reason is undoubtedly about a sense of pride. 72% of the tradespeople in the survey said that pride was the single most fulfilling element of their job happiness. 67% answered that the satisfaction of hard work was the reason, 54% gave a sense of responsibility, 49% suggested that it was the confidence generated by trade work, 37% noted the work’s required dedication, while 34% put it down to the demand for focus.
It goes without saying that work in the trade industry requires all of these characteristics, as of course do other academic vocations. But it’s far easier to enjoy hard work, and to feel pride in your work, while you’re also earning and feel yourself progressing, rather than slipping into an ever steeper pit of debt. The primary motive of work in the trade industry for many is that feeling of progress, pride, worthwhile perseverance, and to feel yourself moving forward in life.
And this leads us to another major difference between the university and trade routes. Statistically, you are more likely to be a homeowner at a younger age as a tradesperson than as a student – three years younger, to be exact – and are typically leaving home one year sooner than your student equivalents.
Tradespeople are generally homeowners by the time they are 27, whereas the rest of the UK are on average aged 30 before they are given the keys to their own place. Not only this, but 44% of tradespeople are likely to have owned multiple properties than average workers, and 1 in 6 tradespeople will have statistically owned more than one property at the same time.
Without exaggerating the importance of these decisions, their outcomes do define, to a certain extent, the way your life will progress. The decisions you take after leaving school can impact things further down the line, and according to the results of this survey, these can be as significant as how soon you get married and have children.
Along with home ownership, tradespeople are typically married and settled, and will even have had their first child, at an earlier age than their student counterparts. The average male tradesperson’s marriage happens on average five years earlier than other men, and for women this is three years earlier.
Tradespeople will statistically have had their first child by the age of 26 – this is two years before the female average (28), and a whopping seven years before the male average (33).
Success in life is ultimately subjective, and can be measured in a number of ways. By no means is it true that the life of a tradesperson is necessarily any more successful than that of a university student, and it goes without saying that, you can make the most of any decision you make.
But it’s worth emphasising that the trade industry can be an option for a highly successful career, perhaps more so than is typically expected. 1 in 4 tradespeople have gone on to start their own businesses, and have taken their futures into their own hands. It’s a career which offers promise, growth, self-discovery, and autonomy.
Unfortunately, a debt-free life is no longer a guarantee for anyone, but university graduates are particularly vulnerable in today’s job market. Job security is increasingly hard to find in the wider world.
But the trade industry is providing this secure option for thousands of people. The past year has seen the construction industry go from strength to strength, continuing to work around the clock to provide essential services for people, and offering education and training for thousands who decided to retrain and increase their employability.
The trade industry could be the safety net – and even saving grace – for you and your future. Access Training is one of the UK’s biggest training companies, and can provide you with the skills and direction you need to invest in your future and establish your career.
Give yourself a career – give Access Training a call today.
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