While the German system of vocational training is highly acknowledged outside Germany, young people and public opinion in Germany increasingly see the system as obsolete. The paper addresses these opinions and takes stock of the system based on several facts and figures. First, the paper critically assesses studies that attribute people with vocational training qualifications considerably lower chances on the labour market, and lower wages compared to academically trained employees. A systematic comparison identifies more moderate differences between both systems than is usually claimed. Secondly, a review of a variety of studies illustrates how the vocational system contributes to specific economic strengths like innovativeness and exporting capability that are not only relevant for production and manufacturing sectors but are an essential asset for the transformation towards Industry 4.0. © Rainer Hampp Verlag.
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