1. Finances and Career Planning
Chapter 2

2. Career Decision Trade-Offs
Standard of living
Measure of quality of life based on amounts and kinds of goods and services a person buys
Trade offs
What do you give up to get what you want out of a job
Complete the Career Related Trade Offs worksheet with a partner
Find a balance between personal satisfaction and financial reward

3. Career Training and Skill Development
More education means more money
Discuss with the person next to you what you think about this statement
What are other benefits that you might gain by a further education?

4. Education and Average Income
Education Level
Average Income
Unemployment Levels
No HS diploma
$20,241
9.1% (double national)
HS diploma
$30,627
6.2%
Some college, no degree
$32,295 --
Associate’s degree
$39,771
5.4%
Bachelor’s degree
$56,665
3.2%
Master’s degree
$73,738
Doctorate degree
$103,054
Professional degree
$127,803

5. Benefits of a Higher Degree
Longer life-spans
Greater economic stability and security
More prestigious employment and greater job satisfaction
Less dependency on government assistance
Greater participation in leisure and artistic activities
Greater community service and leadership
More self-confidence

6. Career Training and Skill Development
Education
On the job training
Vocational school
Certificate programs
Online programs
College
Military
Employability Skills

7. Employability Skills
Set of skills and behaviors that are necessary for every job
Sometimes called soft skills, foundational skills, work-readiness skills, or job-readiness skills
Complete the Employability Skills worksheet
Types of Employability Skills

8. Personal Factors What do you do best? What do you enjoy? The right fit
Aptitudes and natural abilities
What do you enjoy?
Outdoors, indoors, hobbies, interests
The right fit
Personality

9. Stages of Career Planning
1) Assess personal goals, abilities, and interests. Research careers
2) Identify job opportunities in chosen field
3) Develop a resume, cover letter, and apply for jobs
4) Interview for available positions, improve interviewing skills
5) Consider job offers, accept a job that meets financial and personal requirements
6) Plan and implement a program for career development

10. External Factors and Opportunities
Social Influences
Economic Factors
Industry Trends

11. Social Influences Demographic trends Geographic trends
More working parents means more jobs in child care and food services
More leisure time boosts interest in health, physical fitness, and recreational activities
More elderly means greater need for workers in retirement facilities, health care, and travel services
Greater demand for ongoing employment training, increased careers opportunities for teachers and trainers
Geographic trends
Certain areas growing fasters, cost of living goes up, influences salaries

12. Economic Factors High interest rates Price increases
Reduce employment in housing-related industries, such as construction and real estate
Price increases
May be layoffs in certain industries, less raises, less hiring
Decreased demand for good and services
May be layoffs in certain industries, less raises, less hiring, businesses close

13. Industry Trends Increased competition from other countries Automation
Affects American made products
Car salesman, car factory workers
Automation
Affects workers in manufacturing replaced by machines
Service industries have risen in demand
Need more service providers
Administrative assts, salespeople, technical support people

14. Good pay
Pleasant working conditions
Convenient hours
Long vacations
Availability of daycare/family programs
Chance for training/education
Chance to travel
Informal, casual atmosphere
High status
Good job security
Opportunity to help people
Low-stress environment

15. Opportunities to use strong skills
Chance to work with what I really love
Workplace close to home
Diversity of employees
Chance to work outdoors
Interesting work that is never boring
Chance for advancement
Good choice of healthy plans and benefits

16. Employment and Career Development
Section 2.2

17. Obtaining Employment Experience
Part-time work
Volunteer work
Internships and cooperative education
Class projects/after school activities
Managing, organizing, and coordinating people
Public speaking
Goal setting, planning, and supervising
Financial planning and budgeting
Conducting research

18. Career Information Sources
Libraries
Mass media
Internet
School guidance office
Community organizations
Professional organizations
Contacts/Networking

19. Finding Job Opportunities
Job Ads
Newspaper, Internet
Job Fairs
Employment agencies
Other ways
Visit businesses and companies
Call
Network

20. Considering a Job Offer
Work environment
Factors affecting salary
Education and experience
Size of the company
Average salary for the job
Measuring employee benefits
Cafeteria style – choose based on need
Pension – partially funded by employer – could be fixed amount, profit sharing, or 401k
Tax exempt vs. tax deferred

21. Pension Types
Fixed amount – plan that gives you a fixed amount at retirement
Profit sharing – annual contributions are made to employee retirement accounts based on company profits
401(k) – employee sets aside set amount from each paycheck, employer may match employee contributions

22. Rights as an Employee Refuse to hire or determine woman for pregnancy
Cannot discriminate for age, race, color, religion, gender, marital status, mental or physical
Must pay minimum wage
Employer must pay unemployment, contribute to Social Security, provide workers compensation

23. Long-Term Career Development
Improve communication skills
Get along with coworkers
Remain flexible and open to ideas
Develop good work habits
Use lists, goal setting, time-management techniques
Take action with problems
Be creative with problem solving
Learn new techniques and technologies

24. Changing Careers You feel bored or depressed
Job affects you physically or emotionally
Receive poor performance evaluations
Little opportunity to obtain a raise or promotion
Poor relationship with your supervisor or coworkers