Opportunities in trade fields are often overlooked in favor of four-year college degrees.
But that default setting is starting to shift as more and more people recognize that trade positions lead to rewarding careers. A trade career as an electrician, plumber, welder, HVAC technician, or something else is no longer just a backup plan. It’s a viable career path.
Consider these four reasons why getting into the trades can be a financially sound option.
1. Reducing Costs of Education and Debts Among Students
Among the most significant financial advantages of becoming a trade professional is the low cost of a trade education. Most trade professions require trade school or trade programs rather than a college education, which can leave graduates drowning in debt.
Trade studies also take a shorter period of time compared to college degrees. In fact, a forklift operator certification can be completed online in a single day.
Going to trade school also means possibly taking part in paid internships where you can earn money while learning valuable skills that’ll prepare you for a well-paying job. It can be the difference between graduating from trade school with little to no debt versus graduating from college with an albatross of debt around your neck for years or decades.
2. Faster Entrance into the Workforce
Trade occupations normally give people the opportunity to join the workforce much quicker than most professional occupations. Instead of spending four years on an undergraduate degree and another couple of years on a master’s degree, you can be in and out of trade school quickly.
This faster entry into the workforce has important long-term monetary implications. It can help you save, gain work experience, and start contributing towards retirement benefits earlier in life. You might find that you get further ahead than your peers pursuing college degrees.
3. Consistent Demand and Job Security
Skilled trades will always be necessary for day-to-day living. Skilled tradespersons are found in construction, maintenance, utilities, transportation, and manufacturing. Even when there’s an economic downturn, trade professionals are in high demand.
There’s a lack of supply to meet the demand in some trade sectors, so there’s never been a better time than now to consider getting a trade job.
4. Pathways to Entrepreneurship and Financial Independence
A trade career can be a good way to become self-employed and start your own business. In fact, many trade professionals go on to open their own contracting or repair businesses or specialized companies after several years of hands-on trade experience.
However, becoming self-employed also carries certain risks. You won’t have a guaranteed paycheck to rely on. So, you’ll have to hustle to build a reliable customer base. But if you have the skills to do a good job, provide great customer service, and charge competitive prices, the sky’s the limit.
Additional Financial Considerations
Jobs in trade usually come with perks like health insurance, retirement programs, and representation by a union, depending on the company and location. Unionized trade employment, specifically, will usually ensure wage increases, training, and employment assistance.
Furthermore, the skills learned in the trade can lower personal out-of-pocket expenditures. Whether you own a personal home or a rental property, you can leverage your trade skills to take proper care of the real estate. That can save you a ton of money over time.
The trades can provide a lucrative opportunity to gain employment and reap the benefits of lower education costs, rapid entry into the workforce, steady employment, long-term earning potential, and more. By offering a sustainable, high-demand opportunity, trade skills provide an attractive alternative to other career paths that usually require a college degree.
Considering the ongoing labor market evolution, you can use trade skills to embark upon an attractive career path that offers long-term financial stability.
