EPF personal finance

401(k) Plan

A retirement savings plan, sponsored through your employer who will often match your contributions, that allows an individual to save for retirement

Apprenticeship

A paid career-training program where students learn on the job in addition to some classroom instruction

Benefits (Job Benefits)

The extras an employer provides employees in addition to pay, such as health insurance or paid time off

Cover Letter

A letter you send with your resume to explain your qualifications and interest in a particular job opportunity

Elevator Pitch

A 30-second personal summary with a request

Direct Deposit

An automatic electronic deposit of net pay to an employee’s designated bank account

Employee

A person who works for another in return for financial or other compensation

Freelance Worker

A self-employed person who earns money on a per-job or per-task basis, often from different companies; considered an independent contractor

Full-time Work

Work that averages at least 30 hours per week

Gig Economy

A labor market where many people have short-term jobs or gigs rather than long-term employment

Gig Worker

A self-employed person working temporary, service-based, or contracted jobs; considered an independent contractor

Hard Skills

Specific knowledge or abilities needed to do job-specific duties, learned through courses or training

Imposter Syndrome

A feeling of not belonging or not being good enough, often experienced by people with marginalized identities

Independent Contractor

A self-employed person who provides goods, services, or labor to others

Informational Interview

A meeting to learn about the real-life experience of someone working in a field or company of interest

Intern

A student or trainee who works, sometimes unpaid, to gain work experience in a particular field

I-9 Form

A form employers use to verify an employee’s identity and eligibility to work in the U.S.

LinkedIn

A social network site used for building professional connections and job searching

Minimum Wage

The lowest wage per hour that a worker may be paid as mandated by law

Networking

The process of meeting new business contacts and building professional relationships to advance your career

Partnership

A business with two or more co-owners

Part-time Work

Work that averages less than 30 hours per week

Professional Organization

A group of people with similar careers who meet to build skills and connections

Resume

A short document describing your education, work history, and skills used to apply for a job

Salary

A fixed amount paid over a period of time regardless of hours worked

Self-Employed

Working for oneself instead of an employer (includes freelancers, gig workers, business owners)

Soft Skills

Personality traits and interpersonal skills that help you communicate and work with others

Sole Proprietor

A person who is the exclusive owner of a business

Stipend

A set payment amount for a fixed time period of work

Trade School

A school that prepares students for a specific career in under 2 years

Transferable Skills

Skills that can be applied in multiple professional contexts

Wage

A set amount paid for every hour worked (hourly pay)

W-4 Form

A form an employee completes to indicate their tax situation so the employer can withhold the correct amount of taxes