Career Impact on
Income
Career: Lifetime journey of building
and applying skills, knowledge, and
experiences in paid employment
positions
Questions to Answer
 What are the parts to a Résumé?
 How does the career you choose
affect your income?
 What employee characteristics are
important to an employer?
 How do education and training affect
your salary?
 What is an entrepreneur?
Parts to a Résumé
 Contact Information
 Header should include:
 Your Name
 Address (Current if away, and Permanent)
 Phone Number (Home and Cell)
 Email Address
 Job Objective
 May be optional:
 Shows employers the direction you want
to go, your work preferences and serves
as a focal point for employers to review
and analyze your résumé
Parts to a Résumé
 Education
 Degree(s), including where and
when you graduated
 Make sure to use official names of
degrees and schools
 Major, minor or concentration
 Use official names
 Certifications
 Academic awards and honors
 GPA only if it is strong
 3.0 or higher
Parts to a Résumé
 Employment History
 List in chronological order the
positions you have held
 Names and locations of employers
 Dates employed
 List of responsibilities, significant
contributions and demonstrated
transferable skills
 Use active verbs and be brief as
possible
 http://careercenter.umich.edu/article/re
sume-action-words
Parts to a Résumé
 Skills & Abilities
 With the advance of technology,
should include knowledge of
computer programs (Microsoft
Office and Adobe), hardware,
software, database knowledge, and
Internet functions
 Foreign Languages
 Musical Talent
 Writing Skills
Parts to a Résumé
 Activities & Honors





Campus or community awards and honors
Athletics
Clubs or student government
Leadership roles
If too many, choose the ones that have
strongest connection to the type of job you
seek
 Don’t pad with organizations joined “in name
only”, employers may ask about involvement
during interview
Parts to a Résumé
 References
 Simply indicate that references are
“Available Upon Request”.
 Have at least 3 people who can
serve as your references
 Ask in advance for permission to use them as
references
 Use faculty and employers, not personal
acquaintances
 Do not include their names, address or phone
numbers on the résumé
 Have that information on separate document
or wait until employer requests references
Earning Power
 Earning power is the ability to earn
money in exchange for work. How
much you earn depends on the value
of your skills in the marketplace.
 An individual’s value as a worker –
the wage or salary received for a
specific job – is related to the skill
level and education of the worker, the
demand for that work in society, and
the availability of qualified workers.
Earning Power
 Generally, in our society, people
with higher education and more
skills earn more money on the
job than those with less
education and fewer skills.
College: Pathway to Success and a Better Life
 College opens doors to
opportunity and expands your
horizons. You will experience
new points of view.
 Graduating from college will be a
source of pride because it is a
great accomplishment.
 You get to follow your dreams
and determine your future!
Value of Education
Median Annual Wage 2012
Average Lifetime Earnings
Professional Degree
$5,612,760
Doctorate (Ph.D.)
$4,449,440
Master's Degree
$3,337,800
Bachelor's Degree
$2,742,160
Associate's Degree
$1,920,680
Some College, No Degree
$1,863,040
High School Graduate
$1,531,400
High School Dropout
$1,102,120
College Required for a Better Job
 All of the highest paying jobs require
a college degree.
 Jobs for college graduates include
better benefits, such as health
insurance and retirement plans.
 College graduates have half the
unemployment rates of high school
graduates and better job security.
 There are many more jobs available
for college graduates than high
school graduates.
College = Lower Unemployment Rates
Unemployment Rates
Professional Degree
Doctorate (Ph.D.)
Master's Degree
Bachelor's Degree
Associate's Degree
Some College, No Degree
High School Graduate
High School Dropout
1.7%
2.0%
2.4%
2.8%
3.7%
5.1%
5.7%
9.0%
College Helps You Help Your
Family
 You will be able to support your family
with a larger salary.
 You will pave the way for your
brothers and sisters and other
relatives to go to college.
 You will be able to help your children
with their homework and give them a
better life. As a result, they will be
more likely to attend college.
Famous College Graduates













Kareem Abdul-Jabbar – UCLA
Bill Clinton – Georgetown
Hillary Clinton – Wellesley
Bill Cosby – Temple University
Gloria Estefan – Univ. of Miami
Jodie Foster – Yale
Louis Gossett, Jr. – NYU
Hugh Hefner – Univ. of Illinois
Magic Johnson – Michigan St.
Tommy Lee Jones – Harvard
John F. Kennedy – Harvard
Martin Luther King Jr. – BU
Spike Lee – Morehouse, NYU













Jay Leno – Emerson College
David Letterman – Ball State
Bill Nye – Bridgewater State
Shaquille O'Neal – LSU
Barack Obama – Occidental
Natalie Portman – Harvard
Colin Powell – CUNY, GWU
Ronald Reagan – Eureka
J. K. Rowling – Univ. of Exeter
Sonia Sotomayor – Princeton
Julia Stiles – Columbia
Sigourney Weaver – Stanford
Oprah Winfrey – Tenn. State
How Do You Pay for College?
 529 Savings Plan
 Student financial aid helps you pay the






college bills
Five types of student financial aid
Scholarships are about more than just $
How do you find scholarships?
How do you apply for scholarships?
How do you apply for need-based aid?
Pitfalls: Beware of scholarship scams!
529 College Saving Plan
 A 529 plan is a tax-advantaged college
savings plan created to encourage saving
for future education expenses
 Two types of plans:
 Prepaid
 College Savings
 Utah Educational Savings Plan (UESP)




Established by Utah State Legislature
Administered by Utah State Board of Regents
Is a nonprofit trust savings plan
Open to residents and nonresidents
 Money withdrawn for education expenses
are exempt from federal and Utah state
income taxes
529 College Saving Plan
 Funds can be used for expenses such as:
 Tuition and fees
 Books, supplies, and equipment for enrollment or
attendance
 Room and board for students who are enrolled at
least half-time
 Funds can be used at any in-state or out-ofstate:
 College
 University
 Technical School
 Everyone is eligible to take advantage of a 529
plan, there is no age restriction
Student Financial Aid Pays the Bills
 College isn’t as expensive as you might
think.
 There’s a lot of money available to help you
pay for college.
 Student financial aid will help you bridge the
gap between college costs and what you
and your family can afford to pay.
 Student aid includes money from the federal
and state government, money from the
colleges themselves, and scholarships from
foundations, private organizations and
companies.
Five Types of Student Financial Aid
 Gift aid, such as grants and scholarships, which is




free money that does not need to be repaid.
Student employment, such as part-time work-study
jobs, which lets you earn as you learn.
Student loans, which is money that is repaid over
several years, usually with interest.
Education tax benefits, such as the Hope Scholarship
tax credit, which is money you get by filing a federal
income tax return, even if you don’t owe any taxes.
Military student aid, such as ROTC and the GI Bill,
where you earn money for your education in
exchange for service in the United States Armed
Forces.
More Than Just Money
 The organizations that award scholarships
are focused on more than just giving away
money.
 They want to eliminate barriers to college
success.
 Many try to build a community of their
scholarship recipients.
• You will meet people just like yourself
and make lifelong friends.
• You get someone to talk to, someone you
can trust.
How Do You Find
Scholarships?
 Use a free online scholarship match service like
www.FastWeb.com. It takes only half an hour.
 The site matches your personal background
characteristics against a very large database of
scholarships, so you will see only those
scholarships for which you are qualified.
 The FastWeb database is updated daily, with
automatic email notification of new awards that
match your profile.
 The FastWeb site also provides a lot of news,
information and advice.
Other Ways of Finding
Scholarships
 The guidance counselor, Mrs. Selleneit, in
the Career Center posts information about
scholarships in her office or on the school
web site.
 Some guidance counselors publicize
scholarships in the school bulletin or
distribute scholarship booklets.
 You can also find scholarships in books in
your local public library or bookstore.
 MonsterCollege (www.college.monster.com)
lists internships and part-time/entry-level
jobs as another source of money for college.
Start Searching for
Scholarships Now
 Start searching for scholarships as soon as
possible.
 There are scholarships with deadlines
throughout the year, so the sooner you start
searching, the more scholarships you will
find.
 There are even scholarships for children in
the grades K-8 in addition to scholarships
for high school students in grades 9-12.
 You can continue searching for scholarships
after you are enrolled in college.
How Do You Apply for
Scholarships?
 After you locate the scholarships, you will
need to submit an application to each
scholarship.
• Many scholarships require short essays, letters of
recommendation and high school transcripts.
• If you become a finalist, some scholarships will
conduct an in-person or telephone interview.
 If you win the scholarship, the sponsor will
hold the money until you have enrolled in
college. They will then send a check to you
and/or to the college to help you with your
college costs.
Don’t Lose Your
Scholarship
 Some scholarships are renewable,
which means you get money every
year you are in college.
 Often, you will need to get good
grades to keep the scholarship and
send a short progress report to the
sponsor once a year.
 You might also need to get involved in
community service or other activities.
How Do You Apply for
Need-Based Aid?
 Submit the Free Application for Federal
Student Aid (FAFSA) online at
www.fafsa.ed.gov to apply for need-based
grants, loans and work-study.
 The FAFSA is used to calculate your
“expected family contribution” or EFC, a
measure of your family’s annual ability to
pay for college.
•
•
•
•
A lower EFC makes you eligible to receive more need-based
financial aid, such as the Federal Pell Grant.
Financial Need = Cost of Attendance – EFC
Students with a lower EFC qualify for more financial aid.
Students with a zero EFC (mostly students with family income
less than $30,000) have full financial need and qualify for
even more financial aid to help pay for school.
Beware of Scholarship Scams
 Beware of scholarships that charge any kind
of an application fee, even if it is just a few
dollars.
• Don't invest more than a postage stamp for
information about scholarships or to apply for
scholarships.
• If you have to pay money to get money
it’s probably a scam.
• Don’t give out your Social Security number, bank
account number, credit card number or debit card
number to any scholarship providers.
 Nobody can guarantee that you will win a
scholarship.
 The 3 P’s of Higher Education Worksheets
Knowledge VS Skill
 Knowledge refers to learning concepts,
principles and information regarding a
particular subject(s) through books, media,
encyclopedias, and academic institutions
 Skill refers to the ability of using that
information and applying it to perform a task
and get results
 Trial and error add to your skills
 Certain skills may come naturally
 Knowledge is intangible but skills are
tangible
 Both knowledge and skill is required to
master a field of study
What Skills Do
Employers Want
 Everyone talks about
transferable skills, but what are
they and what do they mean?
 People skills
 Self-Reliance skills
 Generalist skills
Skills Flash Cards and Diamond
Ranking Template
Career, Job or Occupation?
On a sheet of paper, list the
characteristics of a career, the
characteristics of a job and the
characteristics of an occupation.
Compare with others around you.
Do the answers from others change
your mind? Why?
Career, Job or Occupation?
 Definitions:
 Job: Paid position of regular
employment
 Career: An occupation undertaken for
a significant period of a person’s life,
building skills, knowledge, experience
and with opportunities for upward
progress
 Occupation: A wide category of jobs
with similar characteristics
Job Interview
 Interview Questions Worksheet
 Occupational Outlook Handbook
Worksheet
Entrepreneur
 Entrepreneur
 An individual who recognizes opportunities
(wants or problems) and uses resources to
implement innovative ideas for new,
thoughtfully planned ventures
 Human Capital (Investment in Self)
 The abilities and skills of an individual
acquired from education and training, that
enhance potential income earning
 Volunteering
 Extra curricular activities
 Workshops
 New tasks at work
Entrepreneurship
 Entrepreneurs use innovation as a tool
to effect change and to develop better
products, services, and processes that
are wanted by others.
 Innovation is a driving force for change
and is given birth by inventors.
 It is the entrepreneur who brings the
innovation to “life” and uses it to make a
valuable contribution to change,
development, and progress in the
economy.
 Important Traits for the Successful
Entrepreneur Worksheet
Ratings of Traits by
Entrepreneurs
A. Most Important for
Success
Perseverance (18)
Desire and willingness to take
the initiative (15)
Competitiveness (14)
Self-reliance (11)
A strong need to achieve (3)
Self-confidence (16)
Good physical health (2)
B. Important for Success
A willingness to take risks (4)
A high level of energy (1)
An ability to get along with
employees (9)
Versatility (17)
A desire to create (5)
Innovativeness (19)
C. Least Important for
Success
Ability to lead effectively (20)
A willingness to tolerate
uncertainty (8)
A strong desire for money (7)
Patience (13)
Being well organized (10)
A need for power (12)
A need to closely associate
with others (6)
Entrepreneurship
 RISKS
 No guarantees
 No regular
paycheck
 No boss
 Long hours
 Assume debt of
business
 Harder to find
work or start
again
 REWARDS
 Be your own
boss
 Keep profits
 Be in control
 Satisfaction
 Pursue talent
and creativity
 Employ people
 Contribute to the
community
Most entrepreneurs are good at what they do,
BUT they don’t know how to plan for and
operate a small business
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Attorneys
Doctors
Dentists
Architects
Accountants
Interpreters & Translators
Financial Analysts
Optometrists
Home Health Care Providers
Web Designers
Insurance Agents
Non-profit directors*
Funeral Directors
Tour Guides
• Caterer
• Restaurant Owner
• Marriage, Child and
Family Counselors
• Travel and
Transportation Agents
• Veterinarians
• Plumbers
• Hair Stylist
Why should students care about
entrepreneur education?
Entrepreneurship allows you to dream your own destiny and
craft a job that you can excel at:
• If you're going to spend time doing
something, why not spend time doing
something you love? Pursue your
passion.
• Resume Builder. What looks
better on a resume -- someone
who started a lawn-mowing
business and made sales as a
teenage or someone who worked
as a cashier in a local supermarket?
• Students already own five powerful
assets: time, talent, attitude, energy and
unique knowledge of one’s local market.
Skills for a Lifetime
Remember - entrepreneurs who have built
and sold one business for a substantial
amount go on to build other successful
businesses. They never lose the
entrepreneurial buzz.
Happy Monkey Hummus
Cost of Living Worksheet