Chapter 7 – Education – Career Information

7-A

Relationship of Career and Earning Power

7-B

Reasons Employees Are Rewarded They add value with

their ideas. They learn new skills. They help the

business grow. They take on

additional responsibility.

Can you think of others?

An associate degree is similar to a bachelor’s degree, but it usually takes two years instead of four.

Associate degree

Bachelor’s Degree

A bachelor’s degree is an academic title usually awarded after you have completed four years of college with an emphasis in one or two areas of study.

Graduate school is the school people go to after they earn their bachelor's degrees.

Graduate School

Also called junior colleges or city colleges. They offer two-year programs of college-level work and associate degrees.

Community Colleges

Adult education consists of programs designed for adults who want to retain for new careers or improve their skills for advancement in their current career areas.

Adult Education

These schools are often called technical schools, because they usually prepare people for jobs that involve the newest technologies. They usually don’t include general courses in any areas other than the one you choose.

Trade or Vocational Schools

7-I

Ed

uca

tion E

arn

ing

s

Bureau of Labor Statistics, 2006

7-J

How Much is Class Worth?

NEFE High School Financial Planning Program

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

1 2 3 4 5 6 7 8Some high school, no degree

High school diploma, or equivalent

Associate Degree

Professional Degree

Doctoral Degree

Master’s Degree

Bachelor’s Degree

Some college, no degree

Mill

ions

of

20

06

dolla

rs

Worklife earnings estimates by highest level of educational attainment

Source, US Census Bureau, current population survey, educational attainment in the US. 2005

11.2

1.51.6

2.5

2.1

3.4

4.4

Typical Employee Benefits

Hospitalization, Medical, and Disability Insurance

Dental and Vision Insurance Accidental Death Insurance Sick Leave Paid Vacation Time and Holidays Parental Leave

7-K-1

1 of 2

Typical Employee Benefits

Worker’s Compensation Insurance Life Insurance Retirement Benefits Retirement Savings Plans Employee Assistance Programs

7-K-2

2 of 2

Factors that Can Affect Your Earning Potential

7-L

Business Downturn

Being Laid Off

Life-Changing Situations

Changing Careers

Promotions

Relocation

Business Upturn

Additional Training

What other factors can you think of?

A New Job

Being Fired

Advanced Degrees