Financial Aspects of Career Planing

8/10/2019 Financial Aspects of Career Planing

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Financial Aspects Of

Career Planning


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1. Describe activities associated with careerplanning and advancement

2. Evaluate factors that influence employment

opportunities

3. Implement employment search strategies

4. Assess financial and legal concerns related to

obtaining employment

5. Analyze techniques available for career growthand advancement

Learning Objectives


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Objective 1: Describe the activities associated withcareer planning and advancement

Career selection requires planning

The average person changes jobs more than seven timesover a lifetime

Job is an employment position obtained mainly to earn

money

Career is a commitment to a profession that requires

continued training


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Trade-offs Of Career Decisions

Career choices alternatives have risks and opportunity

costs

Career choices require periodic evaluation of trade-offs

related to personal, social, and economic factors


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Career Training And Skill Development

Level of formal training affects financial success

Training may be viewed in two main categories:

1. Technical Skills refers to specialized career trainingfor a specific profession.

2. General Skills are traits adaptable to most worksituations. Some can be acquired at school, whileothers require experience.


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Personal Factors

Aptitudes

Interests inventories

Your personality

Do you perform best in low-pressure or high-pressure working environments?

Personal SWOT analysis


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Stages of Career Planning and Advancement


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Career Opportunities: Now and

in the Future

Objective 2: Evaluate factors that influence

employment opportunities


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SOCIAL INFLUENCES

Demographic trends

Working Parents More food service and child care

Leisure time More interest in health and recreationLonger life spans Demand for travel, health care, and retirement facilities

Employment training Demand for teachers, trainers, and related careers

Geographic trends

Where jobs are; salaries, and living costs


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Economic Conditions

Career Opportunities are affected by:

High interest rates

Price increases Decreased demand for goods and services


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Objective 3: Implement employment searchstrategies

OBTAINING EMPLOYMENT EXPERIENCE

Part-time employment develop contacts

Volunteer work develop organizational skills

Internships experience helps obtain employment

Campus projects obtain career skills


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Employment Search Strategies (contd)

Networkingis the process of making and using contactsto obtain and update career information

The main sources of networking include:

Community Organizations Professional Organizations

Business Contacts


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Employment Search Strategies

IDENTIFYING JOB OPPORTUNITIES

Job advertisements

Career fairs

Employment agencies

Job creation

Visit organizations

Telephone and business directories

Web search

Talk with alumni in your field


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Financial and Legal

Aspects of Employment

Objective 4: ssess the financial and legal

concerns related to obtaining employment

Research the job and the company beforeaccepting an employment position

THE WORK ENVIRONMENT- Corporate culture- Company policies and procedures

FACTORS AFFECTING SALARY- Education, training, company size, and salaries

for comparable positions


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EVALUATING EMPLOYEE BENEFITS

Nonsalary benefits include: child care, leaves of

absence, and elder care

Cafeteria-style benefits allow workers benefit credits

that they can choose to meet their needs

Flexible spending and medical savings accounts

Compare job offer benefits based on market value or

future value

Know your employment rights


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Objective 5: Analyze the techniques for careergrowth and advancement

A career can be for a lifetime

Skills and attitudes that can lead to a fulfilling work life: Communicate well with others

Flexible and open to new ideas

Develop efficient work habits

Use lists, goal setting, and time management techniques

Anticipate problems and areas for actions

Creativity and a willingness to assist others


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TRAINING OPPORTUNITIES

Continue to learn about new technology and the global

economy

Formal methods for expanding knowledge:

company programs, seminars, and college courses

Informal methods: reading and discussions with colleagues

meetings with employees from other companies

Long-Term Career Development


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CAREER PATHS AND ADVANCEMENT

Career choices must be evaluated in light of changingvalues, goals, and economic conditions

A mentor is an experienced employee who serves as ateacher and counselor for a less experienced person

Mentors are attracted to those who show initiative

Mentors should be receptive to assisting others, andhelp in both technical and social areas of their careers


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CHANGING CAREERS About 10 million career moves occur each year

Changing jobs can be more difficult than selecting thefirst job

Carefully assess the financial and personal costs andbenefits of changing careers

Determine whether a career change will serve yourneeds and goals


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Developing a Resume

Personal data section

Career objective section

Education section

Experience section

Related information section

References section


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Chronological- Most common; focuses on experience and

education in reverse-time sequence

Functional- Focuses on your skills

Targeted

- Prepared for a specific job

E-resumes for applying for a job online

- Use a simple format and no attachments

Three Types of Resumes


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Creating a Cover Letter

Introductory paragraph

Get readers attention

Overview your qualifications

Development paragraph

Specific qualifications

Refer to details on resume

Experiences and training

Concluding paragraph Ask for interview

Include how to contact you

Summarize how you can help the company


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The Job Interview

Prepare for the interview by getting information about

your prospective employer

Library resources such as annual reports or recent

articles

Internet searches of company and industry information Observations during company visits

Prepare questions to ask about your interests, the

organization, policies, and benefits

Practice interview skills


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THANKYOU

Documents

Financial Aspects of Career Planing