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Finances & Career Planning. Chapter 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
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Finances & Career Planning Chapter 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
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)
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.)
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
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
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)
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.
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.