IndexIntroductionTrade School: The Growing DemandCost Comparison of College and Business SchoolAdvantages of College EducationAdvantages of Business SchoolConclusionWorks CitedIntroductionThis research paper will address the topic of trade school vs. 'university. A large percentage of people currently working in skilled sectors are of retirement age and this will leave a huge gap in the workforce. This gap will increase salaries for these positions in the coming years. People currently enrolled in apprenticeship and technical diploma programs will soon be able to earn as much as someone with a traditional four-year degree. As businesses continue to automate and as technology advances, there will be a need for skilled workers to repair and maintain this new, highly technical and evolving equipment. The demand for skilled sales positions is expected to increase steadily over the next 5-10 years. Skilled sales positions can be an extremely lucrative career path for anyone willing to work with their hands. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayTrade School: The Growing Demand Skilled trades have existed since the beginning of civilization. This knowledge has been passed down from generation to generation. A skilled worker is someone whose job requires a certain amount of specialized training and unique skills. Very little education is required to be accepted into an apprenticeship program with a company or union. Many craft workers typically start in apprenticeship programs, where they develop their skills through Journeymen who may also have attended apprenticeships or technical/trade schools. Manufacturing companies are actively trying to find qualified people who understand their aging equipment. These companies may have proprietary equipment or equipment that is more than 40 years old and unique to their business. In many of these cases they don't want to upgrade or get rid of these assets, because this equipment has been paid off for years but still functions at a high level. However, a considerable amount of this equipment is very mechanical and the training that is done in most technology institutes does not teach students how to work on, repair or upgrade this type of equipment. This leaves many companies with a skills gap that will continue to pose a problem for employers in the future. Many have or need to place more emphasis on internal training and development programs as a short-term solution. The idea is that going to college and graduating will make you more money. More and more parents are pushing their children in that direction without any consideration of the earning potential and job opportunities that coincide with professional positions. There is almost an unspoken rule that getting a college degree is the first step in achieving some part of the American dream. Students blindly head towards college without any career idea in mind and start following steps. We all understand that parents want to see their children succeed, but it may prevent them from seeking great earning potential in business positions. Comparing College and Trade School Costs The cost of a 4-year college is more than double that of a college. business school. The traditional university path to a bachelor's degree will have aaverage between $100,000 and $130,000. This leaves students who go to college still paying off their debts well into their 30s. The cost of a trade school is around $20,000 per degree and leaves the student in a much better position. But the most worrying fact is that according to the Institute of Education Statistics, 40% of those enrolled in four-year degrees will not graduate. Of the 60% who graduate, 64% take more than four years to finish. This is much lower for a 2-year associate degree with only 5% graduating within the 2-year period. Part of the problem is attributed to a lack of guidance along with too many choices to choose from. It is estimated that for each additional year it takes an associate degree student to graduate, they will spend an average of $15,933 in costs. This comes up to $22,826 for a 4-year bachelor's degree student. According to US News, this amounts to an average of $70,000 a year in both lost wages and educational expenses. This is a reality that must be considered when deciding to enter the world of work directly or stay on track to obtain a 4-year university diploma. There is an alternative to university which is driven by the immediate shortage of skilled workers in the business sector worldwide. board, and the demand for these positions will continue to grow. The main driving factor is the fact that over 70% of the current workforce is approaching retirement age, making it a very lucrative career choice for any individual. According to the Bureau of Labor and Statistics, in the construction industry alone, more than 243,000 jobs remain unfilled nationwide. So with the shortage we already have in the workforce and the number of future retirees, workers find themselves receiving higher wages than ever before. If we consider the profession of carpenter, spending on home renovations was at an all-time high last year and is expected to increase throughout the year. On the manufacturing side, industries are growing and changing and facing the reality that they are also losing a large portion of their technicians to retirement. For every person who enters the industry, there are four who retire. They need a skilled workforce to operate, troubleshoot and repair their types of machinery. Many of these companies are introducing new and more advanced equipment to streamline and automate their processes. In turn making companies more efficient and dynamic. This is a great time for people coming out of tech schools to engage with these companies to fill gaps in their rosters. Benefits of College Education Many companies use cooperative and in-house training programs to train interested candidates to meet the demands of the position. Companies like SC Johnson have taken a proactive approach to this dilemma by partnering with area technical colleges to ensure that training programs currently in place meet the needs of future positions. They went a step further to re-establish partnerships with local high schools to reinstate co-op programs for mechanical and electrical students. Students chosen for this program will be paid while training with qualified technicians to develop their industry skills and expertise. This is a great opportunity for students to evaluate this as a career choice to pursue and allows the company to observe the individuals' capabilities. This is really beneficial for both the student in the program and the organization. They begin their training in operations as operators, learning multiple lines to operate various pieces of equipment. This is essential forteach them the functionality of the equipment and how each piece should work. These learnings are then transferred to assist in troubleshooting and repairing equipment as technicians. After high school they will have the opportunity to stay as a university cooperative for another two years as they are enrolled in a technical institute to obtain their diploma. degree. At companies like SC Johnsons, this degree is paid for entirely by the company. At this point it's more of an apprenticeship program for them. They work full time on the first shift, but are exempt and paid during classroom study hours. They rotate through each department and are supported by a senior maintenance technician for a set period of time. During this time, they practice their teachings and maintain their training documentation and signatures and log their hours for journeyman licenses. After completing the programs, they will have the opportunity to obtain full-time employment with the company. All time spent participating in each high school and college co-op program is considered part of their seniority. This is just one example of the steps companies are taking to address the gap left by an aging workforce. There's another topic someone should consider when thinking about four-year versus industry degrees. Most of the jobs you would get with a four-year degree would be salary positions. This is the opposite of skill exchange positions, where most of them are hourly. We need to compare hourly paying jobs to salaried or exempt positions both in terms of benefits and complications. With hourly positions you get paid for the time you spend at work and in many cases have the opportunity to earn overtime and double time. The amount of wages earned through overtime can represent a sizable portion of your annual income. I've had several conversations with multiple managers and one of their biggest complaints is the number of hours spent dealing with work-related issues. They spend an average of 50 to 55 hours per week carrying out their work duties, both at work and at home. They are always on call and some of them will have worked 40 hours by the start of the day on Thursday. They are required to work multiple shifts to support training and other company initiatives. When problems have arisen, they step in to address the situation until it is resolved. In one case it was stated that they would arrive at 9:00 in the evening and work until 11:00 the next day. These are often things that people are not prepared for when they enter positions like these. Now let's look at what the average salary is for a mid-level manager, which is about 95 thousand dollars a year. If we round the number of hours worked per week to 53 and multiply it by 52 weeks, we get a total of 2,756 hours worked per year. This brings a manager's pay to just 34.47 an hour. Considering the situation in this manor, it's not much to be on call all the time with the obligation to work off-shift. Starting pay for most electromechanical, plumbing and instrumentation technicians exceeds that amount, averaging $36.50 an hour. When looking at salaries this way, what is the best choice. Many people in management positions have been burned out by their companies expecting them to work longer, some longer than listed here. It appears that some companies view people in paid positions as tied to the company at all times without any switch. All their hours can add up to a small to moderate bonus at the end of the year if their departmentachieves its goals. Many times, in the end, they self-destruct or leave for better opportunities. Find companies that adhere to a better work-life balance. However, typically, if a trader works on weekends, they will receive higher pay incentives on a daily basis. Once your shift is over, you are not required to take work home or work more hours than your specified shift. He can leave work at work and go home. So, let's recap both. If someone were given the opportunity to take one of the positions presented, would they prefer to flex hours, working any shift or long hours, or would they prefer to work on a set schedule and be paid more for hours worked outside of the normal shift? Pay is just one of the benefits of working on a different hourly schedule than the salary schedule you will most likely receive with a four-year degree. Benefits of Trade School I should point out that I am not against anyone pursuing a four-year degree, but I am saying that many people overlook trade school options as an option for the future. The earning advantage for earning your degree will allow you to earn more in the long run according to various studies. This is extremely important to most students who choose careers that will provide them with higher earnings or better marketability. Many people return to college later in life because they see the benefits of furthering their education. These people see the benefits of higher pay within the organizations they work in that accompanies a college degree. In addition to higher pay, it can lead to a change in career path, advancement in your current one, and possibly early retirement. Couple this with the knowledge that gaining any knowledge on one or more topics is never a bad thing. It keeps your mind sharp as you get older and opens your world to new things you may never have thought about. This happened to me during my time at university and in subjects I thought I wasn't interested in. Completing this feat has shown me that I love learning and it is something I will continue to do as I think about my life and career. Permanent earnings across college and business positions are changing rapidly. I'm thinking about the electrical field, and with 2-5 years of experience you could easily reach a position earning 75-80 thousand dollars a year. I know many people in skilled trade positions who make more than $100,000 a year doing a little overtime. I've heard from numerous managers who say how many people in their department earn more than them. I understand that this isn't always the trend, but my company pays up to the top of the pay scale to not only get qualified people, but to keep them. This makes me reflect on myself and my efforts throughout my career. I've stated previously the number of hours I've seen multiple managers work and the time spent supporting multiple shifts. Many of them don't seem to be satisfied with this type of work and the turnover rate is quite high even at the highest salary ranges. This is partly due to the political side of management that makes me reluctant to get into it. We have an extremely high turnover rate among mid-level and first-line managers that varies approximately every 3-5 years. I have observed that most of the time, when a new plant manager arrives, they kick out the older managers to make room for colleagues from the old company. They seem to work as a team and come in and out of the company the same way. I understand that according to many studies you have greater job security with a degree,.-5023612.