Learning to Earn: Career Planning

Students will know that Compensation for a job or career can be in the form of wages, salaries, commissions, tips, or bonuses, and may also include contributions to employee benefits, such as health insurance, retirement savings plans, and education reimbursement programs .. Students will use this knowledge to 12-1a . Research potential income and employee benefit packages that are likely to be offered to new employees by various companies, government agencies, or not-for- profit organizations . 12-1b . Explain why people should evaluate employee benefits in addition to wages and salaries when choosing between job and career opportunities . 12-1c . Differentiate between contributory and non-contributory employee benefits . 12-1d . Examine the benefits of participating in employer- sponsored retirement savings plans and healthcare savings plans .

Students will know that In addition to wages and paid benefits, employees may also value intangible (non- cash) benefits, such as good working conditions, flexible work hours, telecommuting privileges, and career advancement potential .. Students will use this knowledge to 12-2a . Give examples of intangible job benefits . 12-2b . Describe how intangible benefits can affect a worker’s career choices and income . 12-2c . Evaluate the tradeoffs between income and non-income factors when making career or job choices .

Students will know that People vary in their opportunity and willingness to incur the present costs of additional training and education in exchange for future benefits, such as earning potential .. Students will use this knowledge to 12-3a . Evaluate the costs and benefits of investing in additional education or training . 12-3b . Explain how differences in people’s life circumstances can affect their opportunity and willingness to further their education or training . 12-3c . Compare earnings and unemployment rates by level of education and training .

Students will know that Employers generally pay higher wages or salaries to more educated, skilled, and productive workers than to less educated, skilled, and productive workers .. Students will use this knowledge to 12-4a . Identify different types of jobs and careers where wages and salaries depend on a worker’s productivity and skills . 12-4b . Explain why wages or salaries vary among employees in different types of jobs and among workers in the same jobs . 12-4c . Discuss possible explanations for the persistence of race and gender pay gaps .

Students will know that Changes in economic conditions, technology, or the labor market can cause changes in income, career opportunities, or employment status .. Students will use this knowledge to 12-5a . Discuss how economic and labor market conditions can affect income, career opportunities, and employment status . 12-5b . Evaluate the impact of technological advances on employment and income . 12-5c . Discuss the effects of an economic downturn on employment opportunities for people with different characteristics, such as education, experience, employment type, ethnicity, and gender .