Uploaded by Farry Fahrezha

CHP 2

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Chapter 2: Finances and

Career Planning

CREATED BY:

SHINTA DESRANI ANUGRAH P

155020207121020

Key Concepts

Planning Your Career

External Factors And Opportunities

Employment

Career Information Source

Identify Job Opportunities

Applying For A Job

Considering A Job Offer

Your Rights As An Employee

Steps To Make Your Career A Success

Planning Your Career:

Choosing a Career

What is the difference between a job and a career?

 job is work you do mainly to earn money. Usually temporary.

A career is a commitment to work in a field you find interesting and fulfilling. On the path to permanent

.

Career Decision Trade-Offs

Some people work just 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 them with both money and personal fulfillment.

They select careers that reflect their interests, values and goals.

Career training/Skill

Development

Obtaining as much education as possible will help you meet your financial goals. The more you know, the greater your chances are for success. Having a college degree does not guarantee that you will reach your goals and make a lot of money. However, acquiring more education increases your potential earning power .

 potential earning power — the amount of money you may earn over time.

Personal Factors

You can take special tests to learn more about your own abilities, interests and personal qualities. (aptitude tests, career inventories)

Aptitudes : the natural abilities you posses.

Interest Inventories : tests to help you identify the activities you enjoy most. Matches your interests with various kinds of work.

Stages of Career Planning

1.

Assess personal goals, abilities and interests.

Research Career matches.

2.

Identify job opportunities in chosen field.

3.

Develop a resume and cover letter. Apply for jobs.

4.

Interview for available positions.

5.

Consider job offers. Accept job that meets your financial/personal needs.

6.

Plan a program for career development.

External Factors and

Opportunities

Why should you consider external influences when thinking about your career?

Before you begin your job search, you should think about how external factors such as social influences, economic factors, and trends might affect your career. These factors directly affect the job market and the opportunities that are available to you.

Social Influences

Demographic Trends : tendencies of people grouped by age, gender, ethnicity, education or income. Trends that have affected the job market:

1.

Increase in working parents —expands the supply of jobs in child care

2.

More elderly people in population — produces need for workers in retirement homes and health care facilities.

Geographic Trends : tendencies of people moving from one area of the country to another.

EX: job markets increase in Florida,

California, etc. Earning levels change with location (San Francisco, NYC offer higher salaries to accommodate the cost of living.

Economic Factors

High interest rates, price increases, or decreased demand for certain goods and services can reduce career opportunities. The job market changes as the economy does, and so the demand for certain types of jobs changes.

In addition, economic factors affect some businesses more than others. For example, high interest rates may reduce employment in housing-related industries, such as construction and real estate, because people are less likely to buy houses when interest rates are high. Being aware of current economic trends will help you to choose a career so that you can achieve your financial goals.

Trends in Industry and

Technology

Changes in industry and technology also affect the job market. In recent years, the need for workers in manufacturing has decreased as a result of several trends.

First, increased competition from other countries has reduced demand for

American-made products. Second, automation has taken over many tasks that used to be done by factory workers

Employment and Career

Development:

Obtaining Employment Experience

Part-time work

Volunteer work

Internships and cooperative education

Class projects or after-school activities

Internship : position where a person receives training by working with people who are experienced in a particular field.

Cooperative Education : program that allows students to enhance classroom learning with par-time work related to their majors and interests. (am-school, pm-work)

How do class assignments help?

Manage, organize and coordinate people

Public speaking

Goal setting, planning and supervising

Financial planning and budgeting

Conducting research

Career Information Source

Libraries

Mass media: most newspapers feature business and employment sections with articles on job hunting and career trends.

The internet

School guidance office

Community organizations

Contacts: your family, friends, coworkers, teachers, etc.

Networking : is a way of making and using contacts to get job information and advice

Informational Interview : which is a meeting with someone who works in your area of interest who can provide you with practical information about the career or company you are considering.

Identify Job Opportunities

What sources can you use to find an employment opportunity?

Job advertisements (online, newspaper)

Job fairs

Employment agencies

Personal visit

Call business of interest

Network

Applying for a Job

Resume : 1-2 page summary of your education, training, experience and qualifications.

Cover letter : personal letter that tells why you are interested and why it would be worthwhile for the employer to interview you.

Considering a job offer

What factor would be most important to you when considering a job offer?

 environment (look around)

Factors affecting salary (beginning-end)

Employee benefits (healthcare, retirement benefits, specific needs of your family)

Your rights as an employee

Why should you know your legal rights as an employee?

 cannot refuse to hire a woman or fire her because she gets pregnant.

Employer cannot discriminate on the basis of gender, religion, race, marital status, age, national origin or disability.

Employer must pay at least minimum wage

Employer must pay unemployment insurance and provide worker ’ s compensation funds.

Steps to make your career a success

Improve communication skills —written/oral

Get along with coworkers

Be flexible and open to new ideas

Develop good work habits

Use lists: short/long term goals

Be ready for problems to arise

Be creative when solving your own issues

Be willing to learn new things

Career Paths and

Advancement

One way to make sure that your career develops in the right direction is to gain support from someone with more experience and knowledge.

A Mentor : experienced employee who serves as a teacher and counselor for a less-experienced person.

Family/friends as role models and supporters

Changing Careers

Signs it is time to move on: feel bored or depressed at work job affects you physically or emotionally receive series of poor evaluations little opportunity for raise or promotion poor relationship with boss

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