Good news for Apprentices who will have more money in their pockets from now on as the Government announced an increase in the Apprenticeship National Minimum Wage. From October 1, 2014 the rate will go up by 5p per hour from £2.68 to £2.73. This new rate is for apprentices aged 16 to 18 and those aged 19 or over who are in their first year. All other apprentices are entitled to the National Minimum Wage for their age.
The 5p increase will certainly help to pay for the essentials and even some treats; put in context, over a year an Apprentice could use the additional income to help pay for a holiday in the sun, buy a pair of branded trainers or a new HD tablet.
Lucy Oliver, Skills Director for Interserve Learning & Employment said: “This increase is good news and it comes at a welcome time for many as we look towards the festive season. It also shows the Government’s commitment to the Apprenticeship programme and its recognition of the value that apprentices contribute to the economy. Our apprentices work hard and deserve to be paid accordingly.”
It should also be noted this is the minimum wage and in fact many employers choose to pay more to their Apprentices, recognising the real contribution they make to business productivity. Interserve Learning & Employment encourages all the apprentice employers it works with to be generous in what they pay and with over 70% of employers nationally saying their apprentices improve product or service quality, the opportunity for an apprentice to earn more is significant.
For further information on the minimum wage, visit the Government website: www.gov.uk/national-minimum-wage-rates.
Employers can find out more about Apprenticeships here: www.learning-employment.com/employers/apprenticeships.
For anyone interested in becoming an apprentice, see here: www.learning-employment.com/apprenticeships.