Career The most important financial decision you will ever make

Who needs a career? Average person works 45 years of their life Find something you want and enjoy 72% of adult women work full time now 90% of all adult women will need to work full some point in their life.

8 considerations about your career  What comes easy to you and is difficult to others?  Would you enjoy doing it even if you don’t get paid?  Could you make money doing it?  Does it make you happy? Are you proud of it?

8 considerations about your career cont.  What are your interests, skills, aptitudes?  Is it satisfying and fulfilling? Is it meaningful? Does it create self-worth?  Is it intellectually stimulating? Does it keep you challenged?  Does it go along with your values? You have to ENJOY doing it!

What is the #1 key to career income? EDUCATION!!! Poverty level: below $17,761 Lower income: $17,762–$25,499 Middle Class: $25,500 - $42,000 Upper Middle Class: $42,001-$91,700 29% have a bachelors degree Wealthy: Over $91,700 85% have their Bachelors degree 4x the number of post graduate degrees. *UC Berkley News; Aug 2006; Scott Hodge; NRO Financial Oct. 2004

Career Income Levels Non-HS graduates: $16,234 Represent 19.6% of the population HS diploma: $24, % of the population Some college: $28,264 21% of the population Associates Degree: $33, % of the population

Career Income Levels cont. Bachelors Degree: $48, % of population Graduate/Professionals: $86, % of population How much money do you want to make? How much are you willing to sacrifice to get yourself there? “If you put your mind to it, you can accomplish anything!”

5 Steps to Successful Career Planning  Self-Assessment  Identify the jobs that match up to you.  Identify the education/training requirements. What are you going to do to get there?

5 Steps to Successful Career Planning cont.  Get a job!  Networking – 65%  Want-ads or agencies –20%  Internet – 10%  Cold calling – 5% 80% of all jobs are not advertised. The interview is one of the most important aspects of getting a job!

5 Steps to Successful Career Planning cont.  Make a successful career  Continued education  Professional Development  Technology * Average person changes careers 3-4 times * job changes

Preparing for a job interview Before the interview 1. Research the organization. 2. Practice your interviewing skills. 3. Prepare questions that you plan to ask. 4. Prepare proper dress and grooming. 5. Plan to arrive EARLY at the interview.

The job interview During the interview 1. Relax. Be yourself. 2. Answer questions completely and calmly. 3. Ask questions to help you better know the organization. 4. Ask when you might hear from the organization.

After the Interview  Write down notes on how you can improve for your next interview.  Promptly send a thank-you letter to the person with whom you interviewed to express your appreciation for the opportunity to meet with them.

Common Interview Questions  Tell me about yourself. This one minute will be the most important speech you will ever make. The most important thing is your demeanor and your confidence. Sell yourself, be confident, but not cocky or overbearing.  What activities have helped you expand your interests, abilities, and knowledge?  In what types of situations have you done your best work?  Describe the supervisors who motivated you the most.  Describe someone with whom you had difficulty working.  What are your major strengths?  What are your weaknesses? What have you done to overcome your weaknesses?  What do you know about our organization?  Who is someone you admire? Why do you admire that person?

Adding up the Benefits Benefits cost your employer between 33% and 50% of your pay. These may include: Paid vacation days Paid sick days (usually 5–10 per year) Health, dental, and eye care insurance Life insurance Disability insurance Retirement benefits Tax-deferred retirement plan Parental leave Stock purchase plan Employee assistance plans Employee fitness programs Employee discounts

Examples of paycheck deductions Federal Income Tax (FIT) Federal Insurance Contributions Act (FICA), the official name for Social Security The tax rate is 6.2%, MEDICARE: The tax rate is 1.45% for Medicare on all wages earned.

Examples of paycheck deductions cont. State Income Tax (SIT) The tax rate ranges from 0% to 9.3%, depending on 1) your state and income, and 2) where you live. State Disability Insurance (SDI)