Working at your dream job could be closer than you think. Increasingly, well-paying jobs require you to have some form of education past high school, like a college degree. But college isn’t your only option if you want to train for a better career.
Trade schools are becoming a popular alternative to traditional four-year degrees for people who are eager to enter the workforce doing something they love. Not only do these schools offer more flexibility for students who work full-time, but the accelerated courses can also be more affordable.
If you’re receiving payments from a structured settlement or an annuity, you could even use your money to pay for class and finish debt-free!
Trade Schools Programs Can Be Shorter Than Other Degrees
Some trade school degrees can be completed in as little as two years, as opposed to a four-year bachelor’s degree. However, online studies and student personalization paths are creating more options for students to determine how long their degree takes. In some cases, it’s possible to achieve your degree in fewer than two years or extend it to four while only taking a few classes at a time. Trade schools offer a flexibility that allows you to attend classes, even if you work full time.
The shortened time frame can also help you achieve your dreams faster. Entering a new field or running your own business doesn’t have to be part of your 10-year plan; a technical degree can help you realize your goals sooner.
Hands-On Experience is Helpful in the Job Search
Vocational education focuses on skills development and hands-on education. The goal of trade schools is to arm students with the right information to enter the workforce with everything they need to start their new career on day one. Trade schools can be an excellent option for people who learn best by doing.
Real-world experience can be one of the easiest ways to get noticed by employers. One study found that 58 percent of employers said work experience is the most important factor when deciding if someone is qualified for the job. The second-most popular factor when hiring a candidate was their personality and whether they would make a good “culture fit” within a company. Only 15 percent said they expected a degree from a specific university or school.
Hiring Trained Employees is More Affordable for Companies
In the past few years, the American unemployment rate has dropped below five percent. Having low unemployment is great, but it does mean that some industries are finding it harder to fill their job openings. A study by Doilette and the Manufacturing Institute found that nearly 60% of all open manufacturing positions remained unfilled due to a lack of qualified workers. If they can’t find someone who is already skilled at the job, they need to train them. Low unemployment could lead to a shortage in skilled labor.
The cost of losing an employee and training a replacement for a mid-range position can cost between six to nine months of their average salary. This number increases dramatically based on the employee’s placement within the company and ability to train a replacement. In some cases for highly educated executive positions, the cost of employee replacement can be double the cost of their annual salary. These costs come in the form of training, HR costs to hire and onboard new team members, and lost work hours without someone in the position.
By attending a trade school, you can ease the burden on companies by applying for skilled positions without needing as much (or any) additional training. It’s possible to get a leg up on the competition with a set skill set instead of relying on corporations to provide on-the-job instruction.
Vocational School Education Options are Varied
According to the National Association of State Directors of Technical Education Consortium, there are 79 different career paths tucked within 16 different vocational clusters. This means there are almost 80 career options in multiple industries for you to choose from when deciding on the next step in your career.
These vocational fields vary widely, from Government & Public Administration to Marketing and Tourism; however, some choices are more in-demand than others. According to the Bureau of Labor Statistics, some of the top vocational jobs with the highest expected growth rate between 2012 and 2022 include:
- Personal care aides (48.8%)
- Dental hygienists (33.3%)
- Electricians (19.7%)
- Cosmetologists (12.6%)
- Fitness trainers (12.5%)
These are just a few of the potential careers you could succeed in with a technical degree or certificate. In a growing economy, there’s almost always a demand for skilled labor. Trade schools can offer you the training you need to be a qualified hire for your next career.
There are Multiple Payment Options Available
Because trade school degrees require less time than traditional four-year degrees and therefore fewer classes, they can be a less expensive option.
If you have a structured settlement or annuity, one option you have is to sell all or a portion of your future payments to a company like Peachtree Financial. We’ll give you a lump sum you can use to cover the costs of your classes, and you can graduate debt-free.
Selling your structured settlement means you can spend your money however you need, and attending trade school is just one way you can use cash from your future payments to realize your goals. At Peachtree Financial, we’ve helped thousands of customers achieve their future goals, and will work to help you achieve your plan of completing school to enter your ideal career field.
Peachtree Financial does not provide legal, tax or financial advice. Please contact independent professionals for those services.