The median stipend paid to apprentices in Pune is around 150% higher than the applicable minimum wages
Pune, April 10, 2019: The growing demand for skilled talent coupled with revisions in the apprenticeship act seems to be positively impacting the apprenticeship eco-system states Team Lease Skill University Stipend Primer Report. According to the report, the stipend paid to apprentices in Pune is 150% higher than the applicable minimum wages in the state. In fact, not only companies in Pune, corporates across Maharashtra have been generous when it comes to stipends they pay to apprentices. With a stipend that is 159% higher than the minimum wages, Maharashtra topped the list as the highest paying state. Amongst sectors automobile and allied industries (144% higher than minimum wages), retail (169% higher than minimum wages), and IT/ITes (153% higher than minimum wages) were the top paying sector for apprentices in the city.
From an educational perspective, according to the report, engineering and diploma holders in Pune commanded premium stipends. In fact, Diploma-holder apprentices are paid 2.5 times higher than minimum wages. Further, from a profile point of view, while sales executive and promoter apprentices were rewarded handsomely in automobile and manufacturing sector, trade and tech apprentices are paid significantly higher in sectors like electrical and electronic, IT/ITes and Consumer goods. Apart from stipends, the adoption rate of Job profiles like operators, customer service assistant and maintenance and the quality technician has seen a high rate of adoption in Pune.
Commenting on the analysis, Mr. Sumit Kumar, Vice President, Team Lease Skills University, said, “The high stipends given to the apprentices in the city is a reflection of the growing acceptance of the concept. We are confident that this growing reception coupled with the right initiatives made by the government will encourage further participation from corporates, it will instill confidence in the talent community also to participate in the program.”
At the national level also as per the analysis the stipends offered to apprentices are higher than the minimum wages. In fact, the median stipend is around 41% higher than the applicable minimum wages in the majority of the sectors and cities. Further, as per the study apprentices who are under the Other Employability Schemes (OEES, which comprises programs such as NETAP – National Employability Through Apprenticeship Program) received a higher stipend (7.66% higher) than the stipend paid under the Apprenticeship Act.
KEY FINDINGS OF THE SURVEY
The report also delved into comparative analysis between stipends paid by large businesses vs. stipend paid by Medium and small businesses. While large businesses paid significantly higher stipends [12% to 34%] than others, and the difference in stipends between medium and small businesses is not very significant. Further, the report brought to the forefront of employers expectations with regard to skills. Some of the skills employers looked for in applicants were domain awareness, quantitative abilities, analytical abilities in specialized domains like IT, finance and accounting, production and manufacturing. In addition to domain expertise, employers also looked for soft skills and functional skills in generic as well as support function domains like administration, HR, sales and marketing.
The Stipend Primer is a detailed analysis pertaining to payouts to apprentices by sector, region, educational qualification, and roles. The study covers apprentices employed in nine sectors across nine cities
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
UK Government outlines conditions for elite athletes to return to competitive training
Giving hands are better than praying hands! v Maa Krishna Kashyap, Chairperson, Punyadham Ashram
RENAULT WELCOMES BACK CUSTOMERS: OPENS OFFICE AND SELECT DEALERSHIPS AND SERVICE CENTRES
DigiShield now helps Doctors restart their Clinic without compromising on safety.
2014 The Global Indian New Network (TGINN)