1. Finances & Career Planning Chapter 2

2. Choosing a Career (2.1) Job – work that you mainly do for money Career – commitment to work in a field that you find interesting & fulfilling Career Trade-offs – Standard of living – measure of quality of life based on the amounts & kinds of goods & services a person can buy. – Trends – developments that mark changes in a particular area Career training & skill development – Potential earning power – amount of money you may earn over time

3. Personal factors Aptitudes – natural abilities that people possess Interest inventories – tests that help you identify the activities you enjoy the most. – What do you enjoy? The right fit – goal is to find a job or career that gives you the right balance between financial rewards & personal satisfaction. Stages of career planning (fig. 2.1)

4. External factors & opportunities Social influences (demographic & geographic trends) Demographic - Tendencies of people grouped by age, gender, ethnicity, education, or income that change over time. Geographic – tendencies of people moving from one area of the country to another as financial centers shift location Economic factors – high interest rates, price increases, or decreased demand for certain goods & services can reduce career opportunities. Trends in industry & technology – skill set changes & some jobs are no longer needed. Increased competition from other countries as well can be a factor in the job market. Service industries – service sector jobs have grown. (technology, health care, education, financial services, etc.)

5. Employment & career development (2.2) Employment search strategies – Obtaining employment experience Part-time work, volunteer work, internships, cooperative education, class projects or after-school activities – Career information sources Libraries Mass media Internet School Guidance Offices Community Organizations Professional Organizations Contacts – Networking – Informational interview

6. Identifying Job Opportunities Job advertisements – newspaper & Internet Job fairs – recruiters set up tables or boots to discuss job opportunities with them Employment agencies – match job hunters with employers Other Visit companies – ask to speak with someone who might be able to help you Call businesses – inquire about openings Network - talk to people with similar interests

7. Applying for a Job Steps involved in job application process Resume (either skills or chronological resume) Cover letter Considering a job offer What factor would be most important to you when considering a job offer? The work environment Factors affecting salary Measuring employee benefits Meeting employee needs Cafeteria-style employee benefits (you get to choose the benefits that best meet your needs) Pension plan (retirement)

8. Your rights as an employee Why should you know your legal rights as an employer? Employer cannot refuse to hire a woman or terminate her employment because she is pregnant Employer cannot discriminate against a person for any reason based on age, race, color, religion, gender, marital status, national origin, or any mental or physical disabilities In some cases, the employer must pay the minimum wage set by the government as well as a certain amount of overtime work. An employer must pay for unemployment insurance, contribute to Social Security, and provide for workers’ compensation funds in case of a work-related injury or illness.

9. Long-term career development Steps to make your career a success Make a point of improving your communication skills (written & oral) Do your best to get along with your co-workers Remain flexible & open to new ideas Develop good work habits Use good time-management techniques Be aware that problems may arise, and be ready to take action when they do Be create and solve problems Be willing to learn new techniques & technologies Career paths & advancement Mentor – experienced employee who serves as a teacher or counselor for a less-experienced person Changing careers – most workers change careers several times over the course of their lives.