Here's a number worth sitting with: the average in-state cost of attending a four-year public university in 2024-25, including tuition, room, and board, is $24,920 per year according to College Board. Over four years, that's roughly $100,000. And that doesn't count books, transportation, or the years you spent not earning anything.
Now here's the other number. An electrician apprentice in year one earns roughly 40 to 50 percent of a journeyman's wage, which works out to about $15 to $20 an hour in most markets. That's $31,000 to $41,000 a year. While the college freshman is handing over their first tuition check, the first-year apprentice is depositing one.
This is the part most "trades vs. college" articles get wrong. They compare salaries at the finish line. The actual financial race starts on day one.
The Real Cost Gap
The average federal student loan debt sits at $38,375. That's the number people tend to cite. But it understates the full picture, because it doesn't account for the income that didn't exist during those four years. Lost wages plus debt is the actual cost of college. For an in-state student, the total is closer to $200,000 when you add what was borrowed to what was never earned.
The apprentice path looks nothing like that. An apprenticeship doesn't involve tuition costs. The main out-of-pocket expenses are tools and learning materials. Wages start on day one and increase as training progresses. A registered electrical apprenticeship typically runs five years. By the end, the apprentice has logged thousands of hours of paid work experience and holds a journeyman credential recognized across the country.
The college graduate gets a diploma and a starting salary. The new journeyman electrician gets the same starting salary, plus years of field experience, plus zero debt. Those aren't equivalent positions.
What the Earnings Actually Show
The honest version of the salary comparison looks like this.
The average starting salary for a bachelor's degree graduate in the Class of 2024 was $65,677, according to NACE's Summer 2025 Salary Survey. That's not bad. But that number includes computer science and engineering graduates who skew it upward. A business or communications major is looking at something closer to $55,000.
The BLS median for electricians is $71,490 nationally, and journeyman wages in high-demand markets push 20 to 40 percent higher than that figure. A newly licensed journeyman in a major metro isn't starting at $71,000. They're often starting above it.
And they're starting at 22 or 23, with four years of paid work already on their resume.
"The college grad and the new journeyman may earn similar salaries on paper. But one of them has been earning for four years. That gap doesn't close quickly."
The Part That Gets Uncomfortable
Here's what the pro-college argument usually concedes last: exactly half of bachelor's degree recipients graduated with student loan debt, and repayment typically stretches across a decade or more. During those years, a portion of every paycheck goes back to the lender before a dollar touches a savings account.
Meanwhile, a journeyman who spent those same years earning instead of borrowing has a very different financial runway. No loan payments eating into take-home pay. Years of work history on the resume. A professional license that didn't require anyone to co-sign anything.
Does this mean college is a bad deal? No. It depends entirely on what you study, where you go, and what you do afterward. Engineering and nursing and computer science graduates tend to get their money back relatively fast. History and general studies and communication majors tend not to. The problem isn't college. The problem is treating it like a guaranteed return when it's actually a calculated bet.
Apprenticeships aren't a guaranteed return either. They require years of physical work, early mornings, and the kind of on-site learning that isn't for everyone. But the financial structure is different in one important way: you can't lose what you never borrowed.
For detailed information on how apprenticeships work, read our Apprenticeship Guide here.
⬜ KEY TAKEAWAY
The most honest comparison isn't starting salary. It's net position at age 25. A typical four-year college grad at 22 has a degree and roughly $38,000 in debt. A journeyman electrician at the same age has a licensed credential, four-plus years of field experience, and no debt. Annual salaries are roughly comparable. Net worth is not.
Apprentice Wage Progression: Electrician (National Estimates)
Year | % of Journeyman Rate | Est. Annual Earnings |
|---|---|---|
Year 1 | 40–50% | $31,000–$41,000 |
Year 2 | 50–60% | $38,000–$49,000 |
Year 3 | 60–70% | $45,000–$57,000 |
Year 4 | 70–80% | $53,000–$65,000 |
Year 5 | 80–90% | $60,000–$73,000 |
Journeyman | 100% | $71,490+ (BLS median) |
Sources: BLS OEWS May 2025, IBEW wage progression structure. High-demand markets (CA, NY, WA, IL) typically run 20–40% above national medians.
The reason this comparison matters for an actual career decision is simple. If you're 18 and trying to avoid a decade of debt service, an apprenticeship is worth a hard look on the numbers alone. If you're 30 and already carrying student debt from a degree that hasn't paid off, the numbers suggest a different question: at what point does staying on that path cost more than starting a new one?
Neither path is easy. But they have very different financial structures, and most people making this choice have never seen the comparison laid out clearly. Now you have.
ONE QUESTION
If you had seen this breakdown at 18, would it have changed your decision? Reply to this email with your answer.
See you next week,
- Hard Hat Nation (hardhatHQ.co)