Accellier is the provider of choice for thousands of people and hundreds of organisations in Australia and around the world. Under our former name SAVE Training, we built a solid foundation on which Accellier now stands, embodying almost 10 years of service to Australia’s Tertiary and Vocational Education Sector. As a testament to this, since our inception in 2010 we have spent only a few thousand dollars on advertising. Our clients are almost entirely referred from our happy graduates and business customers.
Accellier is the trading name of SAVE Training Pty Ltd and is a Registered Training Organisation (RTO 32395) that offers a range of nationally recognised courses in education and business Australia wide through our online and face to face courses.
Our mission is to enhance people’s value through excellence in service and learning outcomes.
In this article we uncover the massive hidden cost in undertaking a qualification and how we have saved people thousands of dollars by adding more value to our courses through personalised support, 1-on-1 tuition, recognition of their professional background and more.
I can’t help myself. I love a bargain, I love a ‘great deal’. Why pay $19 for shipping when I can pick up from the store? Why pay $37 for an Uber if I can take the bus for $3?
A few years ago, while poring over the specials and the price per kilogram of a packet of flour to save 73 cents I wondered, “is this worth my time?” If my free time could be converted to a dollar value, could I possibly have ‘spent’ more money looking for the cheapest flour than I saved buying the cheapest flour? Is it worth more to get the item shipped, or to take the Uber?
It also got me thinking about the big picture. Can I even put a price on spending an extra few minutes each day with loved ones, or doing the things that bring me and others joy?
We can all work out our hourly rate at work. We just divide our total pay by the number of hours we worked to get it.
The way we arrive at the value of our free time however, is a little more interesting.
The value you place on your time is about how much you would pay to save it.
To get an understanding of how much your time is really worth, clearerthinking.org have prepared a powerful free (yay!) tool. It will take 10 minutes (oh…) to complete but I think you will find the results profound, surprising, and more importantly, valuable.
I was shocked with my results and it really made me think about how I spend my time. It gave me some facts and figures and some useful suggestions such as:
If you try ClearerThinking’s tool you’ll be able to put a rough dollar amount on your free time.
Bearing in mind the immeasurable value of earning a qualification you’ll see that the enrolment fee for a course is actually only a fraction of the true cost of completing a qualification. For some people, the enrolment fee may actually become insignificant when stacked up against the true cost of hours spent learning and completing assessments.
I want to share my thoughts briefly on the value of education. Quality education is more valuable with greater return on investment than many things we spend time and money on.
Having made my career as an educator I am acutely aware that learning is time consuming. Until such time that we can download competence from the Matrix, getting good at something takes time.
One of my favourite authors, economist Malcolm Gladwell gives the 10,000 hour rule. Gladwell says it takes around 10 years or 10,000 hours of practice to achieve true mastery.
It takes around 10 years or 10,000 hours of practice to achieve true mastery.
Fortunately you don’t have to spend 10 years to get, for example, a Certificate IV in Training and Assessment. It must be accepted though, before deciding to enrol in a course, that it is going to require a significant investment of your time to achieve it.
There are immeasurable rewards to education, both quantitative (money and benefits) and qualitative rewards. A Diploma qualified person for example is entitled to a much higher rate of pay under most awards than someone with a Certificate III.
I believe qualitative rewards have higher value. For example I think it would be awesome to become fluent in French. Born in Australia I never learnt the language but I have many relatives living in France who barely speak English. When visiting I can bumble my way through a few words and phrases and we laugh and have a great time, but how I yearn to be able to engage in deeper conversation with them. I have many hundreds of hours of learning before I can be considered fluent. While I quite enjoy my (very) slow progress to learning the language, I’d be lying if I said I wouldn’t fork out significant money if there was a way to become fluent in significantly less time.
As an aside, I always thought it would be super fun to juggle and ride a unicycle (at the same time). I wonder how much I’d be willing to invest to acquire that skill? I’d learn it in secret just to see the look on the faces of my friends, family and coworkers. One day when I bust out the one-wheeler and coloured balls in the SAVE Training office.
I get it. Most of us love a bargain. I clearly do.
The reality of “buying a course” is that the biggest cost by far is not the course fee, it’s the time you invest to do the course.
So let’s look at the true cost of a course using the TAE40116 Certificate IV in Training and Assessment as an example.
If you check out our article on how long it takes someone to do a Certificate IV in Training and Assessment you can see that it often takes several hundred hours, depending on experience, to get the qualification.
Let’s take for example a common scenario for our clients, someone who has quite a bit of experience in training but no formal qualification. Let’s say it takes them 300 hours to do the TAE.
Now there are many ways to interpret wage statistics for Australians. I looked at a range of ABS, ATO and Treasury data reported in various places and arrived at a rounded off median annual salary of about $55,000. I used a basic online calculator to come up with a weekly take home pay of around $800 based on the median annual salary. (I needed a figure to work with for the next step so just went with it. Again to get a figure for yourself use the tool at ClearerThinking.org)
I made a whole bunch of assumptions to arrive at an illustrative figure for our example and it told me:
“Your implicit dollar value per hour of free time came to $36.40.”
So here’s the unexpected bit. If it takes someone who values their free time at $36.40 around 300 hours to do the course, it has an implied cost of over $10,000 not including the course fees!
If we look at true course costs from this perspective, the numbers speak for themselves. A saving of a few hundred dollars can be fast consumed with the burden of poor support and lack of individual attention.
We know that our focus on our clients’ needs and unending dedication to personal support saves people countless hours of wasted time by:
Get in touch below if you’d like to learn more about how Accellier can save you thousands of dollars doing the Certificate IV in Training and Assessment (TAE40116).
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