Chapter 2- Finances & Career Planning Flashcards
Career
A commitment to work in the field that you find interesting and fulfilling – meeting your personal and financial goals – usually long-term
Job
Work you do to earn money – usually short term
Example high school career, part-time
Standard of living
A measure of quality-of-life based on the amounts and kinds of goods and services a person can buy
Potential earning power
- Your earning potential overtime
- more knowledge/education usually increases earning power
Ingredients for success on the job:
– Try to be an asset to the company – work well with others – strive to do best – quality of work is a high priority – communicate well
Aptitude
Natural talent
Five common aptitudes
One: verbal (example: author)
Two: Numerical (example: accountant)
Three: spatial (example: graphic designer)
Four: manual dexterity (example construction)
Five: physical coordination (example: athlete)
Interest inventories
- Tests that help you identify activities you like doing best
- Matches interests, likes, and dislikes with various kinds of work
- They only point to you in a direction
Personality types
– Realists – investigative – creative – social – enterprising
Six stages of career planning
One: research and assess Two: identify job opportunities Three: develop a resume and cover letter Four: interview Five: consider job offers Six: plan and implement
Demographic trend
tendencies of moving people from one part of the country to another
Two recent trends in industry and technology
One: increased global competition – decrease in demand for American made products equals higher unemployment
Two: automation
Service industry
-Businesses that offer service for a fee
-Will offer employment opportunities in the future
-sometimes paying more than manufacturing
Industries include: healthcare, business services, social services, hospitality, education, financial, computer and or telecommunications
Four kinds of work related training
One: part-time
Two: Volunteer
Three: internships or Cooperative education
Four: class projects or afterschool activities
Internship
- receive training from experienced workers in a particular field
- sometimes lead to a permanent employment
Cooperative education
Combination of classroom and work experience related to your interests
Networking
Way of making and using context to get a job information and advice
Types of resumes
Chronological: outline format from year to year (most recent first)
Skills: usually best for recent graduates – highlights your skills and abilities first
Cover letter
Personal letter to a potential employer
Interview
Formal meeting with potential employer
Factors most important when considering a job offer
– Work environment
-Salary factors
– Employee benefits
Cafeteria style employee benefits
Programs that allow workers to choose benefits the best meet their personal needs
Pension plan
Retirement plan that is funded at least in part by an employer
401(k)
Set aside a portion of your paycheck to this fund and your employer may match a percentage of your contribution
