Investment in Yourself

Investment in Yourself 1.1.9

Family Economics & Financial Education

Take Charge of Your Finances

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself - slide2 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Influences

• Value – a fundamental belief or practice about what is desirable, worthwhile, and important to an individual.

• Goal – the end result of something a person intends to acquire, do, reach, or accomplish sometime in the near or distant future.

• Need – something thought to be a necessity • Want – something unnecessary but desired

© Family Economics & Financial Education – May 2009 – Career Development Unit – Investment in Yourself – slide 3 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Human Capital

• Human Capital – skills acquired through a process of self investment.

• What are examples of things you can do to increase human capital?– Summer jobs– Volunteer– Extra-curricular activities


Education vs. Income

“Education is essential in getting a high-paying job. In fact, for all but 1 of the 50 highest paying occupations, a college degree or higher is the most significant source of education or training. Air traffic controller is the only occupation of the 50 highest paying for which this is not the case”

2004 Bureau of Labor Statistics Occupational Outlook Handbook, Tomorrow's Jobs

Higher Education = Higher Estimated Lifetime Earnings


Education vs. Income Activity

• Stand up with your colored square

“Everyone standing represents the people who started high school. This activity will

show the different paths people can choose during their lifetime and the

different results.”

• Based upon 2007 US Bureau of Labor Statistics Data


Orange

• If you are holding an orange card please sit.

• These 4 people represent 15.2% of the U.S. population who did not graduate from high school or earn a GED. On average, they earn $33,913 per year, the lowest wages of all workers

• Congratulations! Everyone remaining finished high school.


Red

• If you are holding a red card please sit. • These 6 people represent 25.2% of the

U.S. population who graduated from high school or earned a GED. On average, in the United States, they earn $46,938 per year.

• Congratulations! The remaining decided to further their education.


Green

• If you are holding a green card please sit. • These 5 people represent 21.8% of the

U.S. population who dropped out of college without finishing a degree. On average, in the United States, they earn $54,881 per year.

• Congratulations! The remaining finished some kind of post-secondary education.


Yellow

• If you are holding a yellow card please sit. • These 2 people represent 8.9% of the U.S.

population who received their associate degree. On average, in the United States, they earn $64,537 per year. Jobs requiring an associates degree are expected to grow 32% between 2000-2010. These people are prepared for this significant change in the job market.


Blue

• If you are holding a blue card please sit. • These 5 people represent 18.7% of the

U.S. population who received their bachelor's degree. On average, in the United States, they will earn $88,948 per year, which is more than twice what a high school graduate earns.


Purple

• If you are holding a purple card please sit. • These 3 people represent 10.2% of the

U.S. population who have completed their graduate or professional degree. On average, in the United States, they earn $115,179 per year.


Education vs Income

Educational AttainmentU.S. Average

Income (2007)

Percentage of U.S.

Population (2007)

Percentage of State Population

Not high school graduate $33,913 15.2% %

High school graduate including GED

$46,938 25.2% %

Some college no degree $54,881 21.8% %

Associate degree $64,537 8.9% %

Bachelor’s degree $88,948 18.7% %

Master’s, doctoral, professional degree

$115,179 10.2% %


Traits of successful workers

• Traits employers seek include: – Extra curricular activities– Member of school organization– Part time job

• Possible job sources – Internet – Newspaper – Networking


Review

• Degree levels – How long does it take to obtain each degree?– What is an example of a job you can get with

each degree?

• What traits do employers look for in employees?

• What are sources to use to find a job?

Economy & Finance

Investment in Yourself