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Hyderabad apprentices earn 132 % higher than minimum wages
Corporates across Telangana are generous when it comes to rewarding apprentices
Hyderabad: The growing demand for skilled talent coupled with revisions in the apprenticeship act seems to be positively impacting the apprenticeship eco-system states TeamLease Skill University Stipend Primer Report.
According to the report, the stipend paid to apprentices in Hyderabad is 132 per cent higher than the applicable minimum wages in the state. In fact, not only companies in Hyderabad, corporates across Telangana are generous when it comes to rewarding apprentices.
With a stipend that is 132 per cent higher than the minimum wages, Telangana tops the list as one of the highest paying state. Amongst sectors Automobile and Allied industries, Tourism and Hospitality, Consumer Goods and Durables were the top paying sector for apprentices in the city.
From an educational perspective, according to the report, graduates in Hyderabad commanded premium stipends. Further, from a profile point of view, while quality technician and IT support are garnering better payouts as compared to other apprentices, Trade and tech apprentices are paid significantly lower in sectors as compared to the market stipend.
Apart from stipends the adoption rate of job profiles like Service technicians, Quality engineer, Product apprentice and customer support technicians are fasting gaining traction in the south especially in Hyderabad and its surrounding cities.
Commenting on the analysis, Sumit Kumar, Vice President, TeamLease Skills University, said, "The high stipends given to the apprentices in the city is a reflection of the growing acceptance of the concept. Companies are now warming up to investing in apprentices across sectors. We are confident that this growing reception coupled with the right initiatives made by the government will encourage further participation from corporates; aiding in the creation of a stronger workforce of the future.,"
At national level also as per the analysis the stipends offered to apprentices are higher than the minimum wages. According to the report, candidate expectations are significantly higher than stipends paid by employers in Hyderabad with candidate expectations being 30 per cent more than the market stipend. 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 per cent higher) than the stipend paid under the Apprenticeship Act.
