Unlike a degree, an apprenticeship would not entail tuition fees, and you can be compensated. This guide will help you figure out how well you should be paid and if an apprenticeship is the right choice and how much money can you make during an apprenticeship.
Your hourly wage minimum
If you fall into one of the following categories, you are qualified for an apprenticeship rate:
- under the age of 19 or
- older than 19 and in the first year of apprenticeship
The current hourly rate for an apprenticeship is £4.30 per hour.
You’re the monthly working minimum
As an apprentice, you should be able to work at least 30 hours a week. If the personal circumstances or the life of your work make this impossible, an absolute minimum of 16 hours must be met.
Is it possible for me to earn more money?
Yes. Although the average apprenticeship length is 30 hours, if you are under the age of 18, you can legally work up to 40 hours a week. If you are above the age of 18, the time limit is extended to 48 hours.
Additionally, employers pay more than the minimum wage, particularly for higher-level apprenticeships. According to Total Employment, the average annual pay for an apprenticeship is £23,000, which equates to around £12 per hour (although this includes all levels of apprenticeship).
Individual Income Tax
When you make more than a minimum number as an apprentice, you must pay income tax. You will be granted a ‘tax-free allowance,’ which is the amount you will get in a year without having to pay taxes on it.
If you’re uncertain if you can make ends meet on the apprenticeship scale and how much money can you make during an apprenticeship or the national minimum wage, check out our Financial aid for apprentices guide – you might be qualified for financial assistance.