How To Earn Money In The United States

Transcription

1 SM7-1: Money Money Money Purpose: Explore how education and training affect earning potential by comparing the education expectations and salaries for each of the careers listed. Directions: Use available, current resources to gather information about the salary and education needed and the estimated salary range for each career. After you have filled in the chart, compare the information for each career. Be prepared to share what you discovered about the relationship of education and salary. Career Funeral director Education Needed Estimated Salary Range Landscape architect Flight attendant Fashion designer Bank teller Name Date SM7-1: Money Money Money pg. 1 of 1

2 SM7-1: Money Money Money (Instructor) Purpose: Explore how education and training affect earning potential by comparing the education expectations and salaries for each of the careers listed. Directions: Use available, current resources to gather information about the salary and education needed and the estimated salary range for each career. After you have filled in the chart, compare the information for each career. Be prepared to share what you discovered about the relationship of education and salary. Career Funeral director Education Needed College programs range from 2 to 4 years Licensed in every state Courses in anatomy, physiology, pathology, embalming techniques, restorative art, business management, accounting and use of computers in funeral home management, and client services Estimated Salary $45,960 Landscape architect Bachelor s or master s degree in landscape architecture Licensed in most states Courses in surveying, landscape design and construction, landscape ecology, site design, urban and regional planning, history of landscape architecture, plant and soil science, geology, professional practice, and general management $53,120 Flight attendant High school diploma; however, many airlines prefer applicants who have a college degree Courses in people-oriented disciplines such as psychology and education. Additional languages beneficial. $43,440 Fashion designer 2-year or 4-year degree Courses in color, textiles, sewing and tailoring, pattern making, fashion history, CAD, and design of different types of clothing such as men s wear or footwear $55,840 Bank teller High school diploma $21,120 Reference: U.S. Department of Labor. Occupational Outlook Handbook (OOH), Edition. Retrieved from SM7-1: Money Money Money (Instructor) pg. 1 of 1

3 SM7-2: Making It Big As you consider your career options, it s a good idea to be realistic about the chances that you will be able to get a job in your preferred career or city. You will find that many specialized careers have limited opportunities and some jobs will become unnecessary (or obsolete) in the next few years while new careers that create job opportunities will emerge. The demand for employees can also vary among communities depending on a variety of factors such as climate, consumer wants and needs, and resources. It s a good idea to compare the costs of preparing for a career with the odds that you will be able to get a job in the selected career. As part of the decision-making process, you might want to consider other options that will maximize your lifetime earning potential. Purpose: Explore the odds of getting a job in a specialized career such as professional basketball. Directions: Use the information below and current data provided by your instructor to calculate the odds of playing on a basketball team. Sample Career: Professional Basketball Player Part I: Participate in a class discussion to fill in this chart: 1. Ask students for the number of basketball teams in the NBA or WNBA. Men s Women s 2. Ask for the average number of players per team. 3. Ask for the number of men s or women s college teams. 4. Ask for the number of players per college team. 5. Ask for the number of boys or girls high school basketball teams in the United States. (Assume each high school has a boys and a girls team.) 6. Ask for the number of players per team (includes varsity and junior varsity team members). Part II: Work in pairs to calculate the following: 7. Guide the students to work in pairs to calculate the percentage of high school players who make it onto a college team. Men s Women s 8. Guide the student pairs to calculate the percentage of college players who become professional basketball players. 9. Guide the student pairs to calculate the percentage of high school players who become professional basketball players. Name Date SM7-2: Making It Big pg. 1 of 1

4 SM7-2: Making It Big (Instructor) As you consider your career options, it s a good idea to be realistic about the chances that you will be able to get a job in your preferred career or city. You will find that many specialized careers have limited opportunities and some jobs will become unnecessary (or obsolete) in the next few years while new careers that create job opportunities will emerge. The demand for employees can also vary among communities depending on a variety of factors such as climate, consumer wants and needs, and resources. It s a good idea to compare the costs of preparing for a career with the odds that you will be able to get a job in the selected career. As part of the decision-making process, you might want to consider other options that will maximize your lifetime earning potential. Purpose: Explore the odds of getting a job in a specialized career such as professional basketball. Directions: Use the information below and current data provided by your instructor to calculate the odds of playing on a basketball team. Sample Career: Professional Basketball Player Part I: Participate in a class discussion to fill in this chart: 1. Ask students for the number of basketball teams in the NBA or WNBA. 2. Ask for the average number of players per team. 3. Ask for the number of men s or women s college teams. 4. Ask for the number of players per college team. 5. Ask for the number of boys or girls high school basketball teams in the United States. (Assume each high school has a boys and a girls team.) 6. Ask for the number of players per team (includes varsity and junior varsity team members). Part II: Work in pairs to calculate the following: 7. Guide the students to work in pairs to calculate the percentage of high school players who make it onto a college team. (percentage = college players/high school players) 8. Guide the student pairs to calculate the percentage of college players who become professional basketball players. (percentage = professional players/college players) 9. Guide the student pairs to calculate the percentage of high school players who become professional basketball players. (percentage = professional players/high school players) Men s /team 450/total 1, /team 15,300/total 18, /team 568,080/total Men s 15,300/ 568,080 =.0269 or 2.7% 450/15,300 =.0294 or 2.9% 450/568,080 =.0008 or.08% Women s /team 210/total 1, /team 15,735/total 18, /team 568,080/total Women s 15,735/ 568,080 =.0277 or 2.8% 210/15,735 =.0133 or 1.3% 210/568,080 =.0004 or.04% Part III: Lead a follow-up discussion using the following questions to kick off the discussion as time allows. a. What surprised you about these numbers? b. Other than natural talent, what other factors can influence a person s earning ability in the future? c. How do you think a person can improve the odds for success in making it big in a chosen career? If time allows, continue the exercise for other professions. Students may need time for additional research to uncover realistic numbers for other occupations such as music performer, game warden, zookeeper, or state senator Standings 3 Sports & Championships > Winter Sports > Men s Basketball > Sponsoring Institutions > Schools (total was determined by totaling each Division) 4 Sports & Championships > Winter Sports > Women s Basketball > Sponsoring Institutions > Schools (total was determined by totaling each Division) 5 Find National Information (2004 data) SM7-2: Making It Big (Instructor) pg. 1 of 1

5 Assessment 7-2: Evaluation Short Answer (10 pts.): Read each item carefully; then write an answer based on what you learned about earning potential. Each question is worth 2 pts. 1. Money is not the only reason people work. What are two other reasons people work? a. b. 2. Employers expect employees to have basic skills such as the ability to communicate with others and the ability to read. List two other work skills that employers value in employees. a. b. 3. Many employers offer their employees paid time off for vacation, illness, and personal leave. List two other employee benefits that are commonly offered by employers. a. b. 4. Not everyone has enough money on hand to pay the entire costs for specialized training or college. List two sources of funding you might use to help you pay college or training fees. a. b. 5. Rent is one factor in a person s cost of living. List two other factors that will affect a person s cost of living. a. b. Multiple Choice (15 pts.): Read each item carefully; then select the best answer. Each answer is worth 1 pt. 6. Which one of the following would most likely be considered a career? a. fast-food worker b. pizza delivery person c. chef d. summer camp counselor 7. Which of the following is a major factor in helping you achieve your financial goals? a. Your career choice b. The amount of overtime you work c. Your ability to balance work and personal life d. Your values Score /50 Name Date SM7-3: Assessment 7-2 Evaluation pg. 1 of 4

6 8. Ben really enjoys outdoor activities. When he isn t working, he s biking, hiking, sailing, or training for marathons. Which of the following criteria was most likely least important as he decided on a career to support his lifestyle? a. high-paying b. employee benefits: paid vacations, health insurance c. flexible work schedule d. location away from major city 9. Of the following types of jobs, which would be the best option to support the hobby of Alison, who plays in a band for area festivals, dances, and receptions? a. on-call emergency room nurse b. hotel night clerk c. dental assistant d. volunteer fire fighter 10. Cassie is hoping to work a full-time job during the summer months before her senior year of high school. So far, her only paid work experience has been babysitting. She s worried that she lacks the skills and experience needed to get a summer job. What should she do? a. Point out the skills and responsibilities required when she was paid to provide child care b. Consider the skills used when she participated in school plays and classroom activities c. Summarize the skills she developed while living in Spain for a semester as an exchange student d. All of the above 11. Cassie is considering a future career in graphic design. What type of summer job would give her an edge? a. A salesclerk at a bookstore: minimum wage plus discounts on books and magazines b. An advertising assistant for the local newspaper: minimum wage job that requires proofreading and setting up ads in the weekly newspaper c. Any job that pays more than minimum wage to pay for her graphic design classes d. A stock clerk at the local hobby supply store: flexible work hours and responsibilities to stock shelves with art and hobby supplies 12. On average, a person with a college degree earns a. just enough money to cover the costs of the class fees for the degree. b. almost double what is earned by someone with no training beyond high school. c. the same as someone who has a high school diploma plus five years of work experience. 13. Which is an example of an opportunity cost related to earning potential? a. Reduce income by cutting back on work hours to have time to earn an associate s degree b. Pay for college with a scholarship c. Improve time management skills d. Decide on a career that fits into your desired lifestyle 14. An employer-sponsored retirement plan is a. usually only available for employees who have worked more than 10 years at the company. b. one of the most valuable employee benefits. c. funded solely by the employer. d. only available to retired people. 15. Employee benefits typically cost an employer what percentage of your pay? a. Between 1% and 6% b. Between 10% and 17% c. Between 20% and 50% d. Employers do not actually pay for the employee benefits. SM7-3: Assessment 7-2 Evaluation pg. 2 of 4

7 16. Over the past 20 years, the growth of telecommunications has created demand for jobs such as Web designers, computer support technicians, and cable installers. What is another trend that will have a major impact on jobs and careers available to you in the near future? a. Aging population b. Decreasing population in the United States c. Steady use of technology d. More people wearing glasses 17. Which statement best describes the relationship between choosing a career and financial planning? a. Diversify your options b. Pay yourself first (P.Y.F) c. Live within your means d. Plan your work, work your plan 18. During her first year on the job, Robyn earned a $22,880 annual salary ($11 an hour). Her employee benefits include five days of vacation and five days of sick leave. In addition, her employer pays the $300 monthly premium for health insurance. What is Robyn s total annual compensation? a. $22,000 b. $22,880 c. $23,180 d. $23,760 e. $26, Why would someone want to start his or her own business rather than work for someone else? a. Able to work few hours because someone else is managing the business b. Able to make own business decisions regarding what services or products to sell c. Certain to make a lot of money d. No worries about losing his or her job 20. An entrepreneur should be a hard worker who is motivated. Which one of the following characteristics will many entrepreneurs also have? a. Pushy b. Risk-taker c. Insecure d. Wealthy True/False (10 pts.): Read each statement carefully. Show whether the statement is True (T) or False (F) by writing either T or F next to it. If a statement is false, rewrite the statement to be a true statement. Each item is worth 2 pts. 21. One of the single greatest assets an individual has is earning power. 22. On average, a person with a two-year college associate s degree earns more than a person with a high school diploma. 23. Typically, the more responsibilities you have on the job, the higher the salary you can earn. 24. When you finally get the job of your dreams, you can expect to have that job the rest of your life. 25. You can expect to receive the same employee benefits for whatever full-time job you have. SM7-3: Assessment 7-2 Evaluation pg. 3 of 4

8 Essay (15 pts.): 26. Use what you have learned about SMART goals and career planning to write three SMART goals related to preparing for your desired career. a. State the career(s) you are interested in pursuing. b. In the chart below, describe what you can do now (short-term goal), in the near future (intermediate-term goal), and a year from now (long-term goal) to prepare for your potential career. Each goal is worth 5 pts. My Career Interest: Term Career Preparation Goals Short-term Intermediate-term Long-term SM7-3: Assessment 7-2 Evaluation pg. 4 of 4

9 Assessment 7-2: Evaluation Answer Key Short Answer (10 pts.). Each question is worth 2 pts. 1. Award 1 pt. for responses related to any of the following: to live a desired lifestyle, to act on personal values, financial stability, influence, prestige, personal satisfaction and happiness [Objective A, pp ] 2. Award 1 pt. point for any of the following skills: analytical, computer, detail-oriented, flexibility, adaptability, honesty, integrity, interpersonal, leadership, motivation, initiative, organizational, self-confidence, strong work ethic, teamwork [Objective B, pp ] 3. Award 1 pt. for any of the following: health insurance, retirement plan, life insurance, disability insurance, education assistance [Objective D, pp ] 4. Award 1 pt. for any of the following: college savings funds, scholarships, grants, federal education loans, private education loans, work-study programs, tuition assistance from an employer, military programs [Objective C, p. 101] 5. Award 1 pt. for any of the following factors: becoming a parent, changing careers or jobs, taking a break from the workforce, pay increases, the industry, job location [Objective E, pp ] Multiple Choice (15 pts.). Each answer is worth 1 pt. 6. c. chef [Objective A, pp ] 7. a. Your career choice [Objective A, pp ] 8. a. high-paying [Ben would care more about flexible scheduling so he can participate in his outdoor hobbies when weather permits. Location would be more important so he is near parks, hiking areas, and lakes. Ben would need health insurance and time off work to support his hobbies. Although he needs money, there is no indication that Ben lives a lifestyle that requires a large cash flow.] [Objectives A, E; pp. 97, ] 9. c. dental assistant [The regular daytime work hours would allow Alison time to perform in the evenings and on weekends when her events are most likely to occur. Alison would also have regular income with basic benefits from this job.] [Objectives A, B; pp ] 10. d. All of the above [Cassie used valuable work skills in paid and unpaid situations.] [Objective B, pp ] 11. b. An advertising assistant for the local newspaper: minimum wage job that requires proofreading and setting up ads in the weekly newspaper [would gain experience with layout and design, which are related to graphic design] [Objective B, pp ] 12. b. almost double what is earned by someone with no training beyond high school [Objective C, pp ]] 13. a. Reduce income by cutting back on work hours to have time to earn an associate s degree [Objective C, p. 101] 14. b. one of the most valuable employee benefits [Objective D, p. 103] 15. c. Between 20% and 50% [Objective D, p. 104] 16. a. Aging population [More services and products such as health care and medicines will be needed for the increasing number of older citizens. There will also be increasing numbers leaving the workforce as more people reach retirement age.] [Objective E, p. 105] Reasons why other answers are incorrect: b. Decreasing population in the United States [population is increasing] c. Steady use of technology [use is increasing] d. More people wearing glasses [neither valid nor a major impact] SM7-3: Assessment 7-2 Evaluation (Instructor) pg. 1 of 2

10 17. d. Plan your work, work your plan [Objective E, p. 105] 18. e. $26,480 [$22,880 annual pay + $3,600 insurance premiums ($300 x 12 months)] [Objective D, pp ] 19. b. Able to make own business decisions regarding what services or products to sell [Objective F, pp ] 20. b. Risk-taker [Objective F, p. 108] True/False (10 pts.). Each item is worth 2 pts. Award the full 2 pts. for each true response and each false response with an accurate rephrased statement. Award only 1 pt. for a correctly labeled false statement without a correctly rewritten statement. 21. True. [Objective A, pp ] 22. True. [Objective C, p. 100] 23. True. [Objective E, p. 106] 24. False. On average, people change jobs about every two years between ages 18 and 38. [Objective B, p. 98] 25. False. Employers are not required to provide the same benefits; benefit packages will vary by job and company. [Objective D, pp ] Essay (15 pts.). In the chart, each goal is worth 5 pts. 26. [Objectives A, B, C, blends Unit 1 with most of Unit 7] My Career Interest: Term Career Preparation Goals Short-term [1 3 months] Award points for evidence of each of the SMART criteria related to actions to prepare for a career: Specific, Measurable, Attainable, Realistic, Time bound within the correct term category. Intermediate-term [4 12 months] Long-term [>1 year] SM7-3: Assessment 7-2 Evaluation (Instructor) pg. 2 of 2