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Careers and income
Transcript of Careers and income
Life goals and work values
Different types of careers
A career is the sequence and variety of occupations (paid and unpaid) which one undertakes throughout a lifetime. More broadly, career includes life roles, leisure activities, learning and work.
What determines success?
In today's world the term success usually means a variety of things, but the most common answer to this question is a person's career and income.
Choose a career that is something you enjoy doing.
Do your research about the career and choose carefully and thoughtfully.
Make it meaningful to you.
Look into a variety of careers and majors.
Do internships and ask questions.
Seek advice from people in your potential career.
Don't be afraid to try something "hard" or new.
Listen to your heart.
Factors to consider when choosing a career
Self employment status
Self employment is the act of generating ones income directly from customers, clients or other organizations, as opposed to being an employee of a business.
Advantages and disadvantages of being self employed
You are your own boss
You set your own hours
You are an independent contractor
No paid vacation/holidays/sick days
No health/dental/eye insurance
No retirement plan
Your income fluctuates
Responsible for doing payroll
Why the career you choose affects your income
Your income will affect your lifestyle, which determines the type of car you drive, clothes you buy, house you live in, and all the leisure activities you enjoy.
For example, the average annual income for a surgeon is around $220,000, but they also work long, irregular hours and have very little time for family, friends, and leisure activities. It is also stressful knowing they are the sole reason whether patients may live or die.
Another example, artists do not earn much money, but they get to spend their lives doing what they love to do and have flexible working hours.
Budgets and spending plans
After you begin your career it is a good idea to start thinking about a spending plan and how to budget and balance your income. Here are some websites and tips to help you manage your money.
Budget calculators for savings, housing, utilities, etc.
Savings/investments, credit/debit info, planning for college, entrepreneurship, games and tools.
Different Oklahoma colleges to consider, college assistance, financial aid, economic development, legislative info, etc.
budget- a plan for your future spending and saving, weighing estimated income against estimated expenses
balance- the amount of money in a savings or checking account, or amount owed on a debit or credit card.
savings account- an account where money is kept for future use.
income- payment received for goods or services, including employment.
Average Annual Salaries
$47,907 - $87,663
$33,564 - $62,388
$72,716 - $208,696
$28,000 - $45,730
$48,718 - $133,131
$39,793 - $146,325
$44,995 - $146,240
Dallas Cowboy player Tony Romo-
OKC Thunder player- KD
$27,291 - $93,974
$29,404 - $82,107
$23,833 - $70,126
$17,348 - $70,312
$35,087 - $80,819
$8,229 - $30,000
$29,338 - $52,446
$24,123 - $57,379
What is a career?
Choosing a career
Employee status: How to be an employee
noun \im-ˌplȯ(i)-ˈē, (ˌ)em-; im-ˈplȯ(i)-ˌē, em-\ : a person who works for other person or for a company for wages or a salary
Advantages and disadvantages of being an employee
Paid vacation/holidays/sick days
Daily interaction with peers
Not as much freedom as self-employed individuals
Set schedule with little flexibility
Commute to work
You are not your own boss