The return on investment (ROI) of an apprentice is determined by considering a wage progression over the life of the program, the wages of an experienced technician, billing and hourly workloads for an experienced technician, the hourly cost of training the apprentice, and productivity changes from pairing an apprentice with an experienced technician. Wage data are median wages for apprentices who completed their programs in the State of Michigan between 2008 and 2015.

Don’t see the occupation you’re looking for? Our ROI calculator provides the ROI of an apprentice for certain occupations, but we are regularly adding new occupations and seeking feedback on what occupations to include. The registered apprenticeship program offers access to 1,000 career areas including occupations in traditionally apprenticeable industries such as manufacturing, but also new and emerging industries including IT and healthcare.


Electricians

For Electricians, the ROI in Michigan for employers is 7.6802, indicating that for every $1 that an employer invests in an Electrician, they will receive approximately $7.68 back. In the first year of education, benefits outweigh costs, and ultimately, the net benefit of a Electricians apprentice is $103,733.38.

Your totals for Electricians have been calculated! Don't forget --for a more accurate rate, go to Settings to enter the billing rate & wages/overhead costs for any employees involved in training your apprentice.

Apprenticeship

Settings

Wages (Per Hour)
Year 1
Year 2
Year 3
Year 4
Salary (Per Year)

$31,480.00

$38,940.00

$48,160.00

$59,560.00

Training (Per Year)
Year 1
Year 2
Year 3
Year 4

TOTALS

$178,140.00
$12,305.00
ROI

$190,445.00

4-Year Cost

$106,809.63

4-Year ROI

Total ROI

= $106,809.63 4-Year Benefit
$25,835.59 Year 1 Benefit
$19,613.04 Year 2 Benefit
$27,979.25 Year 3 Benefit
$33,381.75 Year 4 Benefit