ESTIMATED READING TIME: 3 MINUTES

For the last 15 years, it has been all about working in the business world. People were going to university and studying to achieve that corner office job. Now, youth still think that's where the good jobs are, even though there are fewer opportunities. The job market is definitely in recovery mode after our economy's nosedive but university graduates are not seeing the same success as they used to. It's time young people started looking at other options for steady well-paying jobs.

Skilled trades jobs are the alternative young people should be considering. They are on par with those office jobs that used to be so desirable — we've already talked about the myths that need busting. The simple reality is that skilled trades need to be better promoted as viable options to young people so that they can make informed decisions about the post-secondary education they pursue and the jobs that will be waiting for them.

Benefit Two: Skilled Trades jobs have high earning potential

Skilled trades training may seem expensive — which we talked about in our last blog — but in the end, it is definitely worth it. After all, a few months of training will increase your earning potential for the rest of your life!

The numbers

When it's time to consider a new career, whether as a high school graduate or someone looking to retrain for a second career, money will of course play a factor in what you decide to do. It isn't the most important fact, but it is certainly important nonetheless.

For years, it has been assumed that the income ceiling is higher when it comes to white collar work — that is, those  jobs that presumably offer a chance to grow from mailroom to corner office. And in a certain sense, it's true — there aren't many tradespeople making a million dollars a year. But there also aren't many others making a million dollars a year either. Remember hearing about the 1 percent? That's who we're talking about here.

Let's take a look at average rates of pay — which most paychecks for the trades are either at or above. One study found that while there was a higher salary ceiling for white collar workers, the median salary was actually higher for those in the trades. In fact, on average, skilled trades workers make 6% more per hour than other occupations in Canada.

But wait, there's more

We'll be honest, when you compare the annual salary of the average white collar worker, they do make about $1,000 more per year. When you multiply that over the course of a full career, it ends up being a lot of money. But if you subtract the cost of college, add a few more years of necessary education (meaning fewer years in the workforce) that difference starts to lean in favour the skilled trades worker.

And, just like any other career, there are opportunities in the skilled trades to advance and earn more. Much the same as other jobs, if you show initiative, competency and management skills, you will receive raises and promotions. Or, you can start your own business and use your unique skill set to earn as much as you want and are able — without relying on someone else.

The elusive six-figure salary

And if you really want to make millions, it is possible as a tradesperson. In fact, because you are spending less on your education, both in time and money, you have an advantage. First, less school debt, if any — you will be starting in the black as opposed to those university graduates staring a a big red number in their bank account. And with less time spent in the classroom, you have more time in the industry to work your way up in pay and status. So don't be afraid to set goals and work hard to acheive them.