Vocational education and training and its relevance to the credit industry

Australia’s vocational education & training (VET) sector continues to deliver excellent results and outcomes for its students not only within the credit industry but the economy at large.

Often there are debates about university deregulation and private vs public school funding, vocational education all too often is relegated to the back, struggling to gain the attention required for the public to understand VET’s unique abilities to train and educate. Further, the current overemphasis on academic and university pathways means VET pathways are often not given due consideration by those seeking to undertake further training. As such, public awareness and recognition of the crucial role that VET can play and is playing – in training the Australian workforce with the skills required to grasp future industry opportunities – is poor.

Benefits of undertaking a qualification in the VET sector

When compared with employment outcomes for university graduates, VET continues to produce superior results, and has proven itself to be a more flexible, accessible and adaptable platform for educating and skilling Australians. Importantly, given the rising cost of formal education, VET is also a more cost-effective training option for both businesses and individuals to obtain a formal nationally recognised qualification.

Ensuring individuals and employers get the highest return on investment in education and training. Understanding the return on investment (ROI) in education and training helps individuals, enterprises and governments to determine changes in the employability of workers following training or to provide a measure of productivity improvements within firms.

VET graduates are paid more

The “Perceptions are not reality” report from Skilling Australia debunks1 some of the most common misconceptions about vocational education and training in Australia. While it is widely acknowledged that getting a qualification will enhance your earning potential and employment prospects, the report indicated that VET graduates are paid even more than those who studied at university.

VET graduates secure employment opportunities and find work

Statistics from the report outlined that studying with registered training organisations providers like AICM increase the chances of securing employment after completing their qualification. While only 67% of university students find work after graduating, nearly 80% of VET students secure employment. This is because AICM focus on providing practical skills that are required within the workplace and specialise in credit Industry focused units.

Employers and industry

Employers and industry are integral to a quality VET system. Registered training organisations (RTOs) are responsible for systematically monitoring, evaluating and continually improving their training products with the help of industry and employers. This enables continuous improvements in the training being offered and benefits employers who have job ready candidates.

The decision is now up to you

The good news is that deciding to invest in your career and future is never a bad decision. If you are ready to study with AICM and obtain a nationally recognised qualification in 2021, contact us today for further information aicm@aicm.com.au we are here to help.

AICM offers training courses which change according to the needs of the credit industry and with its high level of flexibility enables it to provide practical programs that will provide you with valuable knowledge and skills no matter at what stage you are with your career.

FOOTNOTES: 1 Source – Skilling Australia report – perceptions are not reality