Financial Aspects of Career Planning

Chapter 2

Choosing a CareerJob

Work you do to mainly make money

Career A commitment to work in a

field that you find interesting and fulfilling

Very important decision-Financially and personally

Trade-offs of Career DecisionsChoice of career affects how

much money, how much spare time, and the people you meet

Some people work to maintain a standard of living A measure of quality of life

based on the amounts and kinds of goods and services a person can buy.

Others pursue careers that provide money and personal fulfillment

Career Trade-offsChoosing a career

involves trade-offs or opportunity costs

People devote most of their time to work

Sometimes family lives/personal satisfaction suffer

Recent TrendsTrend

Developments that mark changes in a particular area

People are choosing careers that allow them to spend more personal time

Career Training and Skill DevelopmentThe more you know

the greater chances for success

More education increases your potential earning powerThe amount of money

you may earn over time

Level of Education isn’t the only factor

Field of studyLaw medicine generally

offer higher salaries than education and fine arts.

It’s your choice!

Education isn’t the only ingredientYou will need to adapt

and demonstrate quality soft skills

Most successful employees:Work well with othersStrive to do their bestProblem solvers

Personal FactorsWhat do you do best?

Aptitudes-Natural abilities people possess

What do you enjoy? Interest Inventories-Test that help

identifies activities you enjoy the most

Does your dream job exist? Find a job that gives you the right

balance of personal satisfaction and financial rewards

Assignment Activity 1 and Activity 2 From workbookTake a career/personality test – Myers Briggs

Career Opportunities: Now and in the Future

Chapter 2

Social InfluencesDemographic Trends

Ways in which groups of people change over time.

These developments can affect your employment

Some Recent Demographic TrendsMore Working Parents

More jobs in child care and food services

More leisure time Boost interest in health, physical fitness, and recreational products

More elderly people Greater need for workers in retirement facilities, health care, travel

services

Greater demand for ongoing education Increase in careers for teachers and trainers within business organizations

Geographic TrendsWhen people move from one

area of the country to another

Fast growing job markets Arizona, Colorado, Florida, Georgia,

Nevada, North Carolina, Texas

Location also influences earning level Bigger Cities=higher earnings and

higher cost of living

Economic FactorsHigh Interest rates

Price increasesGas

Decreased demand for certain goods/services

All can reduce career opportunities

What happens to jobs if people aren’t buying things?

Trends in Industry and Technology Manufacturing jobs down, why?

1. Increased competition from other countries

2. Automation has taken over many tasks

Be ready for change -

Service Industries on the riseThose that provide services for a feePossible Careers

Computer or TelecommunicationsHealth CareBusiness ServicesSocial ServicesHospitality servicesManagementEducationFinancial Services

Some Essential SkillsComputer Skills

Internet

Learning a second language is a big plus

Section 2.1 Assignment Pg. 41

Section 2.1 Assignment Page 41

1-4

Obtaining Employment and Developing a Career

Section 2.2

Today we’ll be talking about…Employment search

strategiesObtaining employment

experienceUsing career information

sources

Identifying Job Opportunities

Employment Search StrategiesFind the job and work on

getting an interview first

Pay attention to the little thingsApplicationResumeCover Letter

Be professional!

Obtaining Employment Experience Part-Time Work

Temporary Agencies

Volunteer Work Unpaid

Internships A position in which a person receives

training by working with people who are experienced in a particular field

Cooperative Education Students enhance classroom learning

with work related to major/interests

Class Projects/After school Activities

Using Career Information ServicesLibraries

Mass MediaNewspapers

THE INTERNET

School Guidance Offices

Community Organizations

Professional Organizations

Some Good Career Search Web sitesCareer Search Sites

www.monster.com

www.indeed.com *Special Source*

www.wausaudailyherald.com

www.careerbuilder.com

https://jobcenterofwisconsin.com/

ContinuedContacts

Networking-a way of making and using contacts to get job information and advice.

Informational Interview-A meeting with someone who works in your area of interest who can provide you with practical info. about the career or company you’re considering

Identifying Job OpportunitiesJob Advertisements

NewspapersInternet

Job Fairs

Employment AgenciesMatch job hunters with

employersCharge a fee to employer or

you or cost is shared

ApplicationsAccurate

Complete

Legible

Timely

Assignment Find 3 job postings for positions you’d consider during summer months or

after graduation. Bring them to class in a printed format. You can pull them from online resources, the newspaper, etc.

Complete Subway Practice Application – DO NOT provide your Social Security Number. Keep that blank. Print and complete in black ink.

Gather your educational information, work history, accomplishments/achievements, volunteer experience, memberships, etc

Applying for a JobResume-a one or two

page summary of your education, training, experience, and qualifications

What can you contribute to the company?

Why produce a resume?

Why produce a resume… Without a resume, you can’t even begin to compete.

An inferior resume will quickly eliminate you before you even have a fighting chance.

It is imperative to have a superior resume, one that effectively lets employers know what you can do for them.

What are your transferrable skills?

What to Include in a Resume… Contact Information

Education Experience

Relevant Work History

Appropriate Accomplishments

Professional Memberships

Volunteer Experience

Transferrable Skills

What Not to Include in a Resume… A Crazy Objective

Irrelevant Job Experience

Achievements That Aren’t Achievements

Physical Characteristics

Hobbies

Attention Getters

Private Matters

Unprofessional Contact Information

Personal Information – Social Security Number

Resume Tips Accuracy counts: get spelling, names and phone numbers right

Be honest in order to build trust. There is no chance of a job interview without it and if you get caught out being dishonest, you definitely won't get the job!

First impressions count! Have a polished, professional look to your resume

Review your work carefully. Have others review it. Does it say what you want to do?

Emphasize achievements and TRANSFERABLE skills

Emphasize your strengths: if you're having trouble with this, start by asking your friend and family what your strengths are, they will give you honest and helpful answers.

Types of ResumesChronological

Year by YearUseful for workers with continuous work experience

FunctionalFocus on skills and experiences rather than year by year

history – soft and technical skills

CombinationCombine the best of chronological and functional

Resume Formatting Keep it brief and to the point

Make the headings clear

Keep your paragraphs short and space them out

Use positive, action words

Enlarge and bold your name at the top

Use an Arial or Times New Roman font (or similar)

Font size no smaller then 11pt or larger then 12pt, except for names and headings

Resume Formatting Continued Avoid using “I, He, She, His, Her” in any sentence, and never list salaries

Don’t use pictures and graphics unless you are in the creative field

Leave out photos and hobbies

Focus on your achievements

Use volunteer and community activity if you have limited work experience

Utilize white space

Review, review, and review again!

Buzz Words The importance of buzz words…

Stay away from Responsible for Experienced Excellent written communication skills Team Player Detail Orientated Successful

Cover LetterSent along with

Resume

Tells an employer why you are interested and why you think that it would be worthwhile to interview you

Business letter format

Cover Letter Should strengths and accomplishments

What is not included in resume Or in more detail

Use resume paper

Keep it to one page

To the point – organized thoughts

Avoid boasting, exaggeration, insincerity, and inconsistence

Cover Letter Don’ts Don’t overuse “I”

Don’t omit your top selling points

Don’t repeat your resume word-for-word

Don’t forget to customize

Don’t be inconsiderate – thank them

Don’t forget to sign the letter

InterviewingFormal meeting with

potential employerYour chance to shineLearn as much about

the company as possible

Demonstrate why you would be the best candidate for the position

Interviewing Strategies Be prepared!

What can you offer? SELL YOURSELF Why should they hire you? Documents to bring…

Professional Dress

Personal Hygiene

Verbal and Non Verbal Communication

Thank You Card

Considering A Job OfferStill Chapter 2

The Work Environment and Cultural FitEvery workplace is unique

How do managers deal with employees?

Ask questions about company policies

Ask about promotions, pay increases, benefits, etc.

Big Dot of Happinesswww.bigdotofhappiness.com

Factors Affecting SalaryBeginning salary depends on:

Education, experience, size of company, average salary for the job

Raises are based on job performance

Ask for feedback from supervisors

Ask for more responsibility

Measuring Employee BenefitsHealth care

Retirement benefits

Specific needs of your family

Vacation

Cafeteria-style employee benefits

Pension Plan Retirement plan at least partly

funded by the employer

Compare your benefits!

Your Rights as an EmployeeAn employer cannot refuse to hire a woman or

terminate her employment because she is pregnant

Cannot discriminate for age, race, color, religion, gender, marital status, national origin, or mental or physical disabilities

Must pay minimum wage/overtime wage

Long-Term Career DevelopmentImprove communication

skills-get along with co-workers

Develop good work habits-Always complete tasks the best you can

Problems will arise, take action when they do

Demonstrate flexibility

Training OpportunitiesChanges will happen

Take advantage of training programs, workshops

Some companies pay for college

Read newspapers, magazines

Talk with others in your field

Career Paths and AdvancementInterests, values, goals will

change over time

Economic conditions, social trends will affect you

Mentor-an experienced employee who serves as a teacher and counselor

Changing CareersMost workers change jobs

several timesYou should move on if:

You feel bored/depressedJob affects you negativelyLittle opportunity for

advancementPoor relationship with

supervisor or coworkers

LOVE YOUR WORK!

Assignment Section 2.2 Assessment Page 55

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Chapter Assignment – Part 1 Draft a resume and cover letter tailored to one of the job postings you have

collected.

Online Personal Finance - Come to room 104 and set up an appointment to review resume and cover letter with Ms. Anderson.

Chapter Assignment - Part 2 Review the Interview document

Complete the Interview Prep Questions

Prepare for a mock interview for the position you wrote your resume and cover letter for

Review the Reading Your Pay Stub document

Chapter 2 Quiz