With nearly two decades in journalism, Dori Zinn has covered loans and other personal finance topics for the better part of her career. She loves helping people learn about money, whether that’s preparing for retirement, saving for college, crafting.
Dori Zinn Loans WriterWith nearly two decades in journalism, Dori Zinn has covered loans and other personal finance topics for the better part of her career. She loves helping people learn about money, whether that’s preparing for retirement, saving for college, crafting.
Written By Dori Zinn Loans WriterWith nearly two decades in journalism, Dori Zinn has covered loans and other personal finance topics for the better part of her career. She loves helping people learn about money, whether that’s preparing for retirement, saving for college, crafting.
Dori Zinn Loans WriterWith nearly two decades in journalism, Dori Zinn has covered loans and other personal finance topics for the better part of her career. She loves helping people learn about money, whether that’s preparing for retirement, saving for college, crafting.
Loans Writer Kennedy Edgerton Personal Finance EditorKennedy Edgerton is a personal finance editor, leveraging his passion for writing and personal finance to produce stimulating content that empowers readers to enhance their lives through advised decision-making. He has written for several publication.
Kennedy Edgerton Personal Finance EditorKennedy Edgerton is a personal finance editor, leveraging his passion for writing and personal finance to produce stimulating content that empowers readers to enhance their lives through advised decision-making. He has written for several publication.
Kennedy Edgerton Personal Finance EditorKennedy Edgerton is a personal finance editor, leveraging his passion for writing and personal finance to produce stimulating content that empowers readers to enhance their lives through advised decision-making. He has written for several publication.
Kennedy Edgerton Personal Finance EditorKennedy Edgerton is a personal finance editor, leveraging his passion for writing and personal finance to produce stimulating content that empowers readers to enhance their lives through advised decision-making. He has written for several publication.
| Personal Finance Editor
Updated: Feb 7, 2024, 10:52pm
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Getty
Job experience can be invaluable to current college students and recent graduates looking to advance in their careers. Similar to an internship, an apprenticeship is designed to provide you with valuable experience to place you into a new career.
While internships and apprenticeships are similar, the latter has different requirements and benefits that you should be aware of before you submit an application.
An apprenticeship is a program that pays you to work in your chosen field and gain relevant work experience while taking courses. In most cases, apprenticeships can lead to full-time employment with a company once you complete your training and acquire the necessary experience. College degrees aren’t required for every apprenticeship, and each field has its own requirements for apprenticeship candidates.
Most apprenticeship programs adhere to the Registered Apprenticeship Program (RAP) structure, which is approved by the Department of Labor or the State Apprenticeship Agency. Under this structure, candidates earn reputable certifications and other networking and advancement opportunities.
There are a few different types of apprenticeships, including:
There are many professions that offer apprenticeships. Here are some key professions that offer such experiences, according to the Bureau of Labor Statistics (BLS):
In 2018, there were 6 million employees in these career paths, according to the BLS, and statistics indicate that over 500,000 jobs will join these fields by 2028.
Although apprenticeships and internships are both pathways to potential employment, they’re managed and handled differently.
Internships are short-term experiences that can be completed while you’re in school or shortly thereafter. Some companies offer internships after graduation or during the summer as full-time jobs, but that doesn’t necessarily mean they’re long-term jobs.
Apprenticeships can last between one and four years, and you can participate during school or after you leave. Typically, they’re full-time commitments, so you shouldn’t do one alongside another job or school.
Some internships offer you a broad overview of your duties before you start. There’s a chance you won’t do any of the work in your chosen field. You may complete an internship during a semester for credit, but there’s usually no classroom or course attached to it.
Apprenticeships, however, provide a pathway to your desired career field through relevant work. You get to develop your skills with hands-on experience with a mentor who can offer career advancement opportunities. For instance, if there isn’t a job for you where you complete your apprenticeship, your mentor might be able to find you relevant work in the same industry with another employer.
Over 40% of internships offered in the private sector are unpaid. In some cases, interns receive college credits or a small stipend for the duration of the internship program. Internships that pay hourly limit your work hours and you may not get paid for any extra hours you work.
Apprenticeships are full-time jobs that pay a competitive salary when you start your program. Almost every apprenticeship leads to full-time employment with the company you’re doing the apprenticeship for.
Apprenticeships are usually offered through employers, although you can find openings online and via independent apprenticeship organizations.
You can also browse apprenticeship opportunities in your field via Apprenticeship.gov. Industries like tech, electrical, plumbing and carpentry offer apprenticeship programs, but those opportunities vary widely based on the job and where you live. Search for apprenticeships based on your industry or ask a dream company if they have an apprenticeship program you can apply for.
Once you find an opportunity, apply for it with an updated resume and a cover letter. If you’re still in school, consult your college counselor about potential apprenticeships after graduation.
Compare rates from participating lenders via Credible.com
