The day of the apprentice

Not long ago, stipends could be equated with pocket money. The tide seems to be turning for apprentices now — the ‘Stipend Primer Report’ for financial year 2022 by TeamLease Degree Apprenticeship, a degree apprenticeship programme from the house of TeamLease Services, indicates a growing positive synergy amongst Indian companies to pay higher stipends than the mandated minimum notified stipends. Top cities The report also says that nine out of 14 cities experienced an increase in stipends in FY-2022 compared to FY-2021. Premium stipends paid to diploma holders are 30% to 50% higher than the average stipends in nearly 6 out of 14 cities. Employers are willing to pay higher stipends than industry mandates as they see the value of investing in apprentices to bridge the skill crisis and create a sustainable talent supply chain.” The Stipend Primer Report FY-2022 covered 14 hub cities across 24 industries, and the total number of unique employers covered in the report are 553.