No university degree? You can still get a great job

There is a reason why people are often encouraged to get a college degree, despite the huge expense involved. Having a degree can open the door to more opportunities on the employment front. It could mean a higher salary and more financial security.

But nowadays, those without a college degree have more options to get a great job and earn a respectable salary. More and more companies are offering learning programs for non-graduates, including big names like Amazon, Google, and Salesforce.

One Email a Day Could Save You Thousands

Expert tips and tricks delivered straight to your inbox that could help save you thousands of dollars. Register now for free access to our Personal Finance Boot Camp.

By submitting your email address, you consent to our sending you money advice as well as products and services which we believe may be of interest to you. You can unsubscribe anytime. Please read our privacy statement and terms and conditions.

Learn the basics

Currently, many businesses are struggling with labor shortages. In some industries, particularly technology, which requires specialized skills, these shortages have existed for years. Many companies also recognize the need to address inequalities in their hiring practices. Apprenticeship programs could be one way to help solve these two problems.

These programs are designed to provide on-the-job training for people who show an interest or talent in technology and other high-demand fields. IBM, for example, launched its apprenticeship program in 2017. By the end of 2021, it will have trained more than 1,000 participants and hired the majority of them.

The average salary for IBM apprentices is about 50% higher than the average local income where a person works, the company reports. And those who are hired through the apprenticeship program often see their wages increase once they are on board.

In total, up to 20% of IBM jobs no longer require a four-year college degree. And while moving up the ranks may require more education, it’s something workers can pursue in their spare time, once they earn enough income to cover their education costs. In addition, some apprenticeship programs can help workers obtain a diploma. At IBM, some training courses in the apprenticeship program are eligible for college credits.

Bank of America is also known as a company that will hire people without a college degree. Non-degree holders are eligible for entry-level positions and, in some cases, higher positions through an in-house program called Pathways that provides on-the-job training. To date, Bank of America has hired 10,000 employees from low- and middle-income communities through the program, and it plans to hire 10,000 more by 2025.

Good news for workers without a university degree

If college was a more affordable prospect, maybe more people would go. But given the skyrocketing costs of higher education in recent years, a degree is simply unattainable for many people.

The fact that more and more companies are opening the door to non-graduates is a positive development for the workforce. Not only can those without a degree get interesting jobs that lead to career growth, they also have the potential to start earning more generous wages. It can help newcomers to the workforce save and start adulthood on a financially strong note.

In the years to come, we may see even more apprenticeship programs introduced and in more industries. This is reason enough for non-graduates to have hope.

Source link

About Rochelle Boisvert

Check Also

Argentine Peronists vow policy reset after mid-term ballot setback

The center-left coalition of Argentine President Alberto Fernández has pledged to seek cooperation with the …