Nevertheless, there is a shortage of skilled workers
Apprenticeships can be very lucrative
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Those who complete training in certain professions sometimes earn more than people with a university degree. According to a study by the German Economic Institute, in some industries a gross salary of over 5,000 euros is attractive. Nevertheless, there is a shortage of skilled workers.
According to a study by the German Economic Institute (IW), the shortage of skilled workers also affects training occupations with above-average wages. “Some employees with training earn more than employees with a university degree,” says the IW study published at the start of training. It lists the twenty most lucrative careers for 20 to 39 year olds.
The study authors also draw conclusions about the shortage of skilled workers. In some areas, such as electrical engineering, qualified employees are being sought despite above-average pay. “Therefore, a wage increase alone is not a simple solution to the shortage of skilled workers,” argue the researchers at the employer-related institute. Instead, they suggest better advertising for apprenticeships and recruiting foreign skilled workers.
According to the analysis, the best paid skilled workers include those working in technical research and development – often working in the automotive and pharmaceutical industries. Gross, the so-called median income for full-time employees is 5,670 euros. The specialists in this industry have completed different training courses, but are particularly specialized and work, for example, as test field mechanics.
Technical focus often well paid
Aerospace workers – such as trained aircraft mechanics – follow in second place in the ranking. They earn a median of around 5,100 euros. Behind them are employees in insurance and financial services with a median salary of just over 5,000 euros.
According to the study, most well-paid apprenticeships have a technical focus or come from the construction industry. More than half of the 20 most lucrative professions are in the metal and electrical sectors. Across all professional categories, the median salary for employees with completed training in 2023 was just over 3,500 euros.
The “median” divides the examined values into two equal groups and is less susceptible to individual particularly high values than the average. The pay of 50 percent of employees is below the median and that of the other half is above. With this average, outliers in salaries are not taken into account.
