- In certain sectors, there remain proficiency deficits despite remuneration surpassing typical standards.
Skills Scarcity impacts high-paying vocational roles as well, reveals a study by the German Institute of Economics (IW). The study shows that some vocationally trained individuals earn more than those with university degrees. The IW study, released prior to the training commencement, enumerates the top 20 highest-paying job categories for individuals aged 20-39.
The researchers also offer insights on the skills scarcity issue. Despite the above-average wages, there's a persistent demand for qualified professionals in certain sectors, such as electrical engineering. Therefore, they argue that a pay hike is not a straightforward solution to the skills shortage. Instead, they suggest giving more prominence to vocational training and attracting foreign skilled workers.
Top Earning Vocational Jobs
As per the analysis, the highest earners are those in technological research and development, typically employed in the automotive and pharmaceutical industries. These professionals have a median income of around 5,670 euros for full-time work. Their roles, although acquired through varied training, are specialized and may involve tasks such as test field mechanics.
Ranking second are professionals from the aerospace industry, including trained aircraft mechanics. They have a median income of around 5,100 euros. In third place are employees from the insurance and financial services sector, earning a median wage of around 5,000 euros.
Most of the top-paying vocational jobs have a technological focus or originate from the construction industry. Over half of the 20 most lucrative roles fall under the metal and electrical sector. Across all job categories, the median wage for employees with completed training was approximately 3,500 euros in 2023.
The "median" separates the examined values into two equally large groups and is less influenced by extreme individual wage values than the average. Therefore, the wage of half the employees is below the median, and that of the other half is above. This average value does not factor in wage outliers.
Given the continuing skills scarcity in high-paying vocational roles, as highlighted by the study, it's crucial to emphasize the importance of both education and training in these sectors. For instance, individuals pursuing careers in technological research and development, typically earning around 5,670 euros annually, would greatly benefit from continuous learning and updating their skills to stay competitive.
Notably, the study reveals a persistent demand for skilled professionals in sectors like electrical engineering, indicating that investing in education and training programs could lead to a larger pool of qualified individuals, potentially reducing the skills shortage.
