MONEY & LIFE

Trade Jobs Thrive As An Affordable Career Path

By: James Flippin · April 17, 2023 · Reading Time: 2 minutes

Trade Schools Gain Traction

Trade programs are enjoying a surge in popularity, as students are increasingly seeking certificates and short-term credentials instead of associate degrees as a means to enter the workforce.

Trade programs are often more affordable than traditional four-year degrees, and some argue they provide a clearer career path. This recent shift in educational preferences may signify a change in societal values, which increasingly favor cost-effective and practical career preparation.

The Resurgence of Trade Programs

According to the National Student Clearinghouse, enrollment in mechanic and repair trade programs increased 11.5%, construction trades grew by 19.3%, and culinary programs saw a 12.7% jump from spring 2021 to 2022.

In contrast, during the same period, overall enrollment declined 7.8% at public two-year colleges and 3.4% at public four-year institutions.

The Pros and Cons

Trade programs can help address labor shortages in various industries, promote a diverse workforce, and provide students with practical skills that lead to immediate employment. But the number of well-paying jobs going to individuals with bachelor’s degrees is growing much faster than for those with associates or technical degrees. This may exacerbate existing income inequalities, potentially putting individuals with trade credentials at a long-term disadvantage.

Overall, the increasing popularity of trade programs as an alternative to traditional higher education presents both opportunities and challenges. As the world of higher education and the job market continue to evolve, it is essential for students and workers to evaluate both options and carefully weigh which career path is the right choice for them.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS23041802

TLS 1.2 Encrypted
Equal Housing Lender