Investment in Yourself Take Charge of Your Finances

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself - slide2 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Influences Value – a fundamental belief or practice about what is desirable, worthwhile, and important to an individual. Goal – the end result of something a person intends to acquire, do, reach, or accomplish sometime in the near or distant future. Need – something thought to be a necessity Want – something unnecessary but desired

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 3 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Human Capital Hard Skills are: specific, teachable abilities (technical/performance skills) Examples: –Math –Chemical Interactions –Computer Applications Knowledge Skills acquired through a process of self-investment (education and on-the-job training) Soft Skills are how a person relates to others (people skills) Examples – communication – problem solving, –cooperation How Can You increase Your Human Capital Right Now? –Summer jobs –Volunteer –Extra-curricular activities –Education/Training

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 4 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Education vs. Income Higher Education = Higher Estimated Lifetime Earnings

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 5 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Education vs. Income Activity Stand up with your colored square “Everyone standing represents the people who started high school. This activity will show the different paths people can choose during their lifetime and the different results.” Based upon 2007 US Bureau of Labor Statistics Data

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 6 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Orange If you are holding an orange card please sit. These 3 people represent 15.2% of the U.S. population who did not graduate from high school or earn a GED. On average, they earn $33,913 per year, the lowest wages of all workers Congratulations! Everyone remaining finished high school.

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 7 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Red If you are holding a red card please sit. These 4 people represent 25.2% of the U.S. population who graduated from high school or earned a GED. On average, in the United States, they earn $46,938 per year. Congratulations! The remaining decided to further their education.

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 8 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Green If you are holding a green card please sit. These 4 people represent 21.8% of the U.S. population who dropped out of college without finishing a degree. On average, in the United States, they earn $54,881 per year. Congratulations! The remaining finished some kind of post-secondary education.

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 9 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Yellow If you are holding a yellow card please sit. These 2 people represent 8.9% of the U.S. population who received their associate degree. On average, in the United States, they earn $64,537 per year. Jobs requiring an associates degree are expected to grow 32% between These people are prepared for this significant change in the job market.

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 10 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Blue If you are holding a blue card please sit. These 3 people represent 18.7% of the U.S. population who received their bachelor's degree. On average, in the United States, they will earn $88,948 per year, which is more than twice what a high school graduate earns.

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 11 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Purple If you are holding a purple card please sit. These 2 people represent 10.2% of the U.S. population who have completed their graduate or professional degree. On average, in the United States, they earn $115,179 per year.

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 12 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Education Pays....

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself - slide13 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona Traits of successful workers –Communication Skills –Self Confidence –Flexibility –Energy –Intelligence –Responsibility

Career Research

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 15 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona STEPS IN Making an informed Career Decision 1.Includes a self evaluation of interests 2.Select personal career goals − Goals are the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future Short-term goals are accomplished within one year Long-term goals are accomplished in more then one year 3.Research a career pathway 4.Choose a career pathway

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 16 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Career vs. Job What is the difference between a job and a career? Job − An employment position obtained mainly to earn money − Example: Gas Station Attendant Career − A commitment to a profession which requires continued training and offers a clear path for occupational growth − Example: Educator

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 17 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Job Opportunities Pick a career path with job opportunities in the future Three main factors influencing future job opportunities 1.Population 2.Labor force 3.Demand for goods and services

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 18 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Factors Affecting job opportunities Population − Age mix affects job types available Size of the labor force − Many people of working age makes it harder to get a job Demand for goods and services − If the demand for your prospective industry is high, it will be easier to get a job

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 19 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Internet Resources Career Information − − For hundreds of different jobs these sites tell you: − The training and education needed − Earnings − Expected job prospects − What workers do on the job − Working conditions

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 20 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Education training Professional degrees Vary depending on the profession Doctorate degrees 4-6 years beyond undergraduate degrees in college Masters degree 2 years beyond undergraduate degrees in college Bachelors degree 4 years beyond high school Associates degree 2 years beyond high school

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 21 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Largest Numerical Increases in Occupations Source: Bureau of Labor Statistics Occupational Handbook – Tomorrow’s Jobs December 2005 Optometrists Physicians and surgeons Lawyers Pharmacists Chiropractors Professional Degrees Postsecondary teachers Computer and information scientists, research Chemistry and biophysics Pharmacists Clinical, counseling Doctorate Degree 18% Growth 17% Growth

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 22 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Largest Numerical Increases in Occupations Source: Bureau of Labor Statistics Occupational Handbook – Tomorrow’s Jobs December 2005 Physical therapist Educational, vocational and school counselors Substance abuse counselor Occupational therapy Master’s Degrees School teachers Accountant and auditors Computer software engineers Bachelor’s Degree 18% Growth 17% Growth

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 23 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Largest Numerical Increases in Occupations Source: Bureau of Labor Statistics Occupational Handbook – Tomorrow’s Jobs December 2005 Dental hygienists Physical therapy assistant Paralegals and legal assistants Associate’s Degrees Nursing aids and orderlies Hairdresser and cosmetologists Emergency medical technicians Post Secondary Vocational Award 19% Growth 13% Growth

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 24 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Largest Numerical Increases in Occupations Source: Bureau of Labor Statistics Occupational Handbook – Tomorrow’s Jobs December 2005 Gaming managers Construction and building inspectors First line supervisors/managers (food, retail) Work experience in related occupations Carpenters Cooks Electricians Fire fighting Long Term On- the-Job Training (more than 12 months) 8% Growth

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 25 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Largest Numerical Increases in Occupations Source: Bureau of Labor Statistics Occupational Handbook – Tomorrow’s Jobs December 2005 Truck drivers Dental assistants Medical assistants Customer service representatives Moderate Term On-the Job Training (1 to 12 months) Retail salesperson Waiters and waitresses Home health aides Personal and home care aides Short Term On-the-Job Training (0 to 1 month) 8% Growth

1.1.2.G1 Occupations with the fastest growth Occupations Percent change Number of new jobs (in thousand s) Wages (May 2008 median) Education/training category Biomedical engineers7211.6$ 77,400Bachelor's degree Network systems and data communications analysts ,100Bachelor's degree Home health aides ,460 Short-term on-the-job training Personal and home care aides ,180 Short-term on-the-job training Financial examiners ,930Bachelor's degree Medical scientists, except epidemiologists ,590Doctoral degree Physician assistants ,230Master's degree Skin care specialists ,730 Postsecondary vocational award Biochemists and biophysicists ,840Doctoral degree Athletic trainers ,640Bachelor's degree Physical therapist aides ,760 Short-term on-the-job training SOURCE: BLS Occupational Employment Statistics and Division of Occupational Outlook

1.1.2.G1 Occupations with the fastest growth (Cont.) Occupations Percent change Number of new jobs (in thousand s) Wages (May 2008 median) Education/training category Dental hygienists ,570Associate degree Veterinary technologists and technicians ,900Associate degree Dental assistants ,380 Moderate-term on-the-job training Computer software engineers, applications ,430Bachelor's degree Medical assistants ,300 Moderate-term on-the-job training Physical therapist assistants ,140Associate degree Veterinarians ,050First professional degree Self-enrichment education teachers ,720 Work experience in a related occupation Compliance officers, except agriculture, construction, health and safety, and transportation ,890Long-term on-the-job training SOURCE: BLS Occupational Employment Statistics and Division of Occupational Outlook

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 28 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Fact Among the 20 fastest growing occupations, an associate’s degree or higher is the most significant source of postsecondary education or training for 12 of them!

1.1.2.G1 On-the-job training occupations with the fastest growth & the % of growth

1.1.2.G1 Associate Degree occupations with the fastest growth & the % of Growth

1.1.2.G1 Bachelor’s Degree occupations with the fastest growth & the % of Growth

1.1.2.G1 Beyond Bachelor’s Degree occupations with the fastest growth & the % of Growth

1.1.2.G1 Fact: Half of the fastest growing occupations are related to healthcare

1.1.2.G1 Occupations projected to Grow Fastest, Why are healthcare positions growing so fast? These combined jobs will add more than 1.3 million new jobs Source: Bureau of Labor Statistics Occupational Handbook – Tomorrow’s Jobs December 2005

1.1.2.G1 Aging baby-boomer generation (1946-early 60’s) Home care as alternative to costly hospitalization or residential facilities Fact: Half of the fastest growing occupations are related to healthcare

1.1.2.G1 Organizations continue to upgrade with applications and speed Reliance on wireless networks Fact: Two of the fastest growing occupations are related to technology

1.1.2.G1 Job Declines projected Declining occupational employment stems from: − declining industry employment − technological advancements − changes in business practices The majority of declines are office and administrative support and production occupations − Increasing plant and factory automation − Implementation of office technology

1.1.2.G1 Occupations with the fastest decline % projected

1.1.2.G1 Fact Among the 20 fastest declining occupations, only 2 of them have any postsecondary education!

1.1.2.G1 Review Degree levels − How long does it take to obtain each degree? Career examples − What is an example of a job you can get with each degree?

1.1.2.G1 © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 41 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Researching a Career Questions that you should ask: − Are there opportunities for advancement? − What are the educational requirements? − Does it pay enough? − What are the working conditions? − Will there be a need for this work in the future?

1.1.2.G1 So.... How Are You Going To Pay For The Education You Need? © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 42 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Most Important thing you can do: −C−C omplete the FAFSA (free application for federal student aid) Why is the FAFSA so important? −M−M any scholarships/grants are based upon financial need.

1.1.2.G1 So.... How Are You Going To Pay For The Education You Need? Scholarships − Athletic − Theatrical − Academic Paid Back? − NO © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 43 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona Grants − Federal (Pell) − College − Minority Paid Back? − NO

1.1.2.G1 Subsidized Student Loans Paid Back? − Yes − No Interest charged while in college (government pays this) − Begin paying upon college completion © Family Economics & Financial Education – Revised April 2008 – Career Development Unit – Career Research – Slide 44 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona So.... How Are You Going To Pay For The Education You Need? Unsubsidized Student Loans Paid Back? − Yes − Interest charged when loan begins − Can elect to pay interest fees while still in school − If wait to pay, interest accrued be added to loan amount so paying interest on interest