Management apprentices among highest earners
New statistics from the Department for Education show Business Management apprentices are among the top apprenticeship earners
DfE stats released in late December have shown that business and management apprentices earn a higher annual salary in their first year post apprenticeship than many other sectors.
The report detailed the average salaries for adult learners (age 19+) one year after completing an apprenticeship and found that Business Management apprentices were among the top five in terms of earnings one year after completing an apprenticeship, with an average salary of £25,000.
The median annualised earnings in the first full tax year after training were greater at higher level apprenticeships; increasing from £15,100 for intermediate apprenticeships to £18,100 for higher (level 4) apprenticeships.
Earnings also increased steadily each extra year after achievement. On average, median annualised earnings rose 5% every year for intermediate apprenticeships, 6% ever year for advanced apprenticeships, and 10% for higher (level 4) apprenticeships.
Jake Tween, funding and apprenticeships manager at ILM, said that the new apprenticeships which incorporate on the job learning and assessments “ensure that organisations are future proofing themselves by creating the management and leadership skills needed to thrive.”
Find out more about our apprenticeships offer