Stipend payouts saw positive growth in 2020

By: |
February 1, 2021 3:00 AM

Expected to see a 3% rise in 2021: TeamLease Skills University report. E-commerce and education were top-paying sectors for apprentices across qualifications

E-commerce and education were top-paying sectors for apprentices across qualificationsE-commerce and education were top-paying sectors for apprentices across qualifications

Despite the disruption caused by the Covid-19 pandemic, the average stipend payouts for apprentices had witnessed a growth in 2020, and this positivity is expected to continue in 2021, according to the report ‘Stipend Primer: Post-Pandemic Special’ released by the National Employability through Apprenticeship Programme (NETAP) from TeamLease Skills University. “The average stipend payout is expected to witness more than 3% point rise in 2021,” it noted.

As per the analysis, in the manufacturing sector, apprentices in the electrical & electronics and healthcare & pharmaceuticals segments saw a 17% point and 11% point growth in stipends that were rolled out, respectively. In the services sector, while apprentices in e-commerce saw a 39% point growth, education witnessed a 34% point rise. In fact, education and e-commerce today hold first and second ranks, respectively, with regard to stipend payouts.

Sumit Kumar, vice-president, NETAP, TeamLease Skills University, said, “The disruption over the last year has reiterated the need for building a robust pool of employable and skilled talent, who are better prepared for the future of work. Companies have realised the need to invest in apprentices to build a steady talent pool, and are keen to hire more apprentices.”

The report noted that Pune and Delhi are the cities where apprentices are being paid significantly higher stipends, and at an average of Rs 12,350, Bengaluru pays the highest stipend.

The ‘Stipend Primer: Post-Pandemic Special’ is a detailed analysis on stipend payout trends for apprentices from 2018 to October 2020 across business sizes and industries. The report considered inferences from 296 employer respondents across India.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1MSBSHSE Datesheet 2021: Maharashtra State Board announces schedule for Class 10, Class 12 Board exams; Check details here
2Indians rank high on positivity about finances in new Global Student Survey
3ICSI CS Result 2020 announced: Scorecard, marksheet out on official website icsi.edu — check details