The focus of this paper is "dual" apprenticeship training, which involves both on-the-job and institutional training. Apprentices receive training both within the companies to which they are apprenticed and within state-run, vocational institutes. The cost of training under this system is mainly borne by the employer, which has given rise to debate around the cost-benefit for the employer. Although literature on apprenticeship training costs and benefits is available, it is fragmented and scattered. No single composition encompasses all the necessary constructs of this paradigm, which is the major objective of this paper.