Unit 7 - Your Career: Doing What Matters Most

Relationship of Career and Earning Power I Need Years to Prepare Doing what I love to do I Want a Family I Want to Make Lots of Money I Want to Be Happy 7-A

Reasons Employees Are Rewarded They add value with their ideas. They learn new skills. They help the business grow. They take on additional responsibility. Can you think of others? 7-B

The Opportunity Cost of Working Take an evening shift job Decide to stay in current position… Going to college and starting work later on Give up time with family and friends Instead of relocating to take a better job And getting a better-paying job as a result Can You Think of Some Other Examples? 7-C

Information Management Key Employee Skills Basic Skills Thinking Skills Resource Management Skills Personal Skills Interpersonal Skills Information Management Skills Systems Skills Technology Skills 7-D-1

Key Employee Skills Menu Basic Skills Basic Skills Personal Skills Interpersonal Skills Able to read, write, perform basic math computations; listens well; speaks clearly Organizational Skills Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-2

Key Employee Skills Menu Personal Skills Basic Skills Personal Skills Interpersonal Skills Goal driven, positive self image, sociable, realistic self-assessment, demonstrates honesty Organizational Skills Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-3

Key Employee Skills Menu Interpersonal Skills Basic Skills Personal Skills Interpersonal Skills Team player, able to teach and lead other employees with diverse backgrounds, meets customer expectations, negotiates well Organizational Skills Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-4

Organizational Skills Organizational Skills Key Employee Skills Menu Organizational Skills Basic Skills Personal Skills Interpersonal Skills Organizational Skills Works well in an organization, can monitor and correct performance, suggests improvements to the organization Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-5

Key Employee Skills Menu Thinking Skills Basic Skills Personal Skills Interpersonal Skills Creates new ideas, makes decisions, solves problems, organizes information, learns efficiently, can reason things out Organizational Skills Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-6

Resource Management Skills Resource Management Skills Key Employee Skills Menu Resource Management Skills Basic Skills Personal Skills Interpersonal Skills Organizational Skills Makes good use of time, money, materials, and employee resources. Thinks of more efficient ways of doing things Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-7

Information Management Skills Information Management Skills Key Employee Skills Menu Information Management Skills Basic Skills Personal Skills Interpersonal Skills Organizational Skills Acquires, assimilates, and organizes information; has solid analytical and problem-solving skills Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-8

Key Employee Skills Menu Technology Skills Basic Skills Personal Skills Interpersonal Skills Solid skills in various electronic media (computers), can operate various types of equipment with ease, can maintain and repair equipment Organizational Skills Thinking Skills Resource Management Skills Information Management Skills Technology Skills 7-D-9

Career Pathway Explore Career in HS Years Internship / PT Job in Related Field Receives Formal Education/Training Takes First Job Promotes to Higher-paying Position Goes back to School to Study More in Chosen Field Takes Next Job at Higher Pay School at Night On-the-job training Promotion 7-E Takes new job

Education and Experience NEFE High School Financial Planning Program Education and Experience Some high school, no degree High school diploma, or equivalent Associate Degree Professional Degree Doctoral Degree Master’s Degree Bachelor’s Degree Some college, no degree Millions of 2006 dollars Worklife earnings estimates by highest level of educational attainment Source, US Census Bureau, current population survey, educational attainment in the US. 2005 1 1.2 1.5 1.6 2.5 2.1 3.4 4.4 7-F

Ranking Order of Key Employee Skills 1 5 9 10 6 2 7 12 11 8 4 13 3 Click Here to Find Out What Employers Want Source: Job Outlook 2006, National Association of Colleges and Employers 7-G

Average College Costs Four Year Public Institutions Sample Average Undergraduate Costs, 2005-06 Four Year Public Institutions Resident . . . . . . . . . . . . . . . . . . . . . . . . . . $16,357 Out-of-State . . . . . . . . . . . . . . . . . . . . . . . $26,304 Four Year Private Institutions Resident . . . . . . . . . . . . . . . . . . . . . . . . . $33,301 Source: College Board’s Trends in College Pricing, 2006 7-H

Education Earnings Bureau of Labor Statistics, 2006 7-I

How Much is Class Worth? NEFE High School Financial Planning Program Some high school, no degree High school diploma, or equivalent Associate Degree Professional Degree Doctoral Degree Master’s Degree Bachelor’s Degree Some college, no degree Millions of 2006 dollars Worklife earnings estimates by highest level of educational attainment Source, US Census Bureau, current population survey, educational attainment in the US. 2005 1 1.2 1.5 1.6 2.5 2.1 3.4 4.4 7-J

Typical Employee Benefits 1 of 2 Typical Employee Benefits Hospitalization, Medical, and Disability Insurance Dental and Vision Insurance Accidental Death Insurance Sick Leave Paid Vacation Time and Holidays Parental Leave 7-K-1

Typical Employee Benefits 2 of 2 Typical Employee Benefits Worker’s Compensation Insurance Life Insurance Retirement Benefits Retirement Savings Plans Employee Assistance Programs 7-K-2

Factors that Can Affect Your Earning Potential Promotions Being Fired Being Laid Off Additional Training Advanced Degrees A New Job Business Downturn Relocation Changing Careers Life-Changing Situations Business Upturn What other factors can you think of? 7-L