Costs of an apprenticeship
Find out more about the costs and the incentives available.
Like all employees, there are financial implications involved in hiring an apprentice.
Employers will need to pay apprentices a salary (to be determined by the employer but must be at least the national minimum wage) throughout the four-year programme, as well as costs of travel to their training provider and match any other employee benefits such as National Insurance contributions, holiday allowance and pensions.
However, there are also some generous incentives that could make hiring an apprentice a sound investment. The Apprenticeship Levy can be used by employers to pay up to 95% of the course fees to the academic provider, while payments of £3,000 are available from the Government for each new employee until 15 May 2022, with an additional £1,000 for the hiring of each new apprentice.
In addition, if an apprentice is under the age of 25 when starting the apprenticeship, and has previously been in local authority care, they also may be eligible for a bursary payment.