Trade School Benefits for Construction Jobs

Trade School Benefits for Construction Jobs

One of the biggest benefits to working in the skilled trades is the education required. While there are many positives to going to 4 years of school for a bachelor’s degree, there are also a few big negatives, including cost. Since 1990, tuition costs have risen over 300%, far outpacing the growth of the economy. When costs rise at 7-8% per year, while inflation grows 2-3% per year, you end up with a product that becomes unaffordable. For many folks, though, that unaffordability isn’t standing in the way, because student loans are easy to come by. Because of that, about 2/3 of students with bachelor’s degrees are leaving college with debt that averages $26,000 per student. That’ll make for a $300 monthly payment for a decade. (From experience, it’s a little depressing when your student loan bill is more than your car payment.) All in all, your average bachelor’s degree is likely going to cost you over $100,000 — closer to $150k if completely financed through loans.

The vast majority of training programs for the skilled trades, on the other hand, last from 6 months to 2 years, and will cost just over $30,000. Even if that cost is entirely financed by student loans, you’re looking at a total of $40,000, which is still a savings of at least $110k!
This makes for a huge opportunity cost for those going to 4-year colleges. You’re spending an extra 2-3 years in school, paying tens of thousands per year, while the tradesman is already graduated and earning money (in some cases, making six figures as a 21-year-old).

One final factor is simply that some 18-year-olds aren’t ready for a college environment. You’re thrown off the cliff from your warm and comfortable home life into total independence. It’s not an easy transition for anyone; in fact, about 40% of all undergrad enrollees will drop out before earning a degree.

Trade school offers a nice on-ramp to independence. You’ll often stay close(r) to home, you receive real-world, hands-on training from the get-go, and you aren’t spending every waking moment with folks your same age and in the same position in life (which can make for a difficult social transition once out of college). Again, there are certainly benefits to attending a 4-year university (we’ve outlined the pros and cons here), but the big pros of trade school are that you’ll save a lot on tuition, start being able to make money sooner, and can start taking measurable steps towards adulthood more quickly.