Comprehensive Career Planning and Employee Benefits Guide for Students

career

The lifework chosen by a person to use personal talent, education, and training.

career planning

The process of finding employment that uses your interests and abilities while supporting you financially.

importance of career planning

It helps align personal goals, values, and financial stability with professional opportunities.

early career preparation steps

Prepare a résumé, seek a mentoring relationship, contact placement office.

professional association

To network, learn, and enhance career opportunities.

values

Principles, standards, or qualities you consider desirable.

professional interests

Long-term activities and topics that engage your attention.

interest inventory

A survey that assesses career interests and activities.

values and career choices

They influence the trade-offs you are willing to make in career planning.

career goal

A specific job or field of work that you aim for.

career ladder

The progression from entry-level positions to higher pay, skill, or authority.

evaluating career fields

Costs, benefits, lifestyle trade-offs, and opportunities for advancement.

career coaching

Guidance provided by a professional to help clarify career paths and strategies.

career abilities review areas

Abilities, experiences, and education/training.

work-style personality

Your preferred way of working, such as independently, collaboratively, or with structure.

employers checking credit reports

To gauge responsibility and trustworthiness.

aligning career with trends

Future employment trends.

gig economy

Employment based on freelancing or short-term contracts rather than long-term jobs.

entrepreneurship considerations

It offers independence and control but involves greater risks.

college worth

Yes, because higher education is highly correlated with higher income.

STEM majors and jobs

No, many majors teach employable skills that pay well.

dollar value of employee benefits

To compare their worth and understand their financial value.

calculating future value of benefits

By projecting their long-term worth (e.g., employer retirement plans).

examples of employee benefits

Paid vacation, health insurance, retirement plan.

legal employment rights

Unemployment insurance, workers' compensation, Social Security contributions.

workers' compensation

Compensation provided to employees who are injured at work.

purpose of a résumé

To present your qualifications to employers.

three résumé formats

Chronological, Functional, Skills.

purpose of a cover letter

To introduce yourself to an employer and request an interview.

reference letters

To provide credibility and support to your job application.

ways to find job opportunities

Job boards, career fairs, classified ads, employment agencies.

formal step to apply for a job

Submit an application with résumé and cover letter.

job interview

A formal meeting between an employer and applicant to discuss qualifications.

three interview preparation steps

Research employer, prepare answers, create positive responses.

what to do after an interview

Send a thank-you note, evaluate performance, compare offers.

compare salary offers

Adjust salary for cost of living in each city.

tips for career advancement at work

Keep skills updated and build strong performance reputation.

cafeteria plan

A benefit plan allowing employees to choose options.

Flexible Spending Account (FSA)

Pretax funds set aside for specific expenses.

Health Savings Account (HSA)

A savings account for medical expenses, paired with high-deductible health plans.

advantages of retirement plans

Tax-deferred growth and employer matching contributions.

starting retirement saving early

Compound growth can make you a millionaire over time.

financial planner

Evaluates finances and recommends strategies for long-term goals.

suitability standard

Advisor can sell investments suitable for client but may benefit themselves.

fiduciary standard

Advisor must act in the client's best interest.

four types of planner compensation

Commission-only, fee-based, fee-offset, fee-only.

financial certifications

Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC).

questions to ask a financial planner

Are you fiduciary? What are your fees? How do you identify client goals?

enhance your abilities without a job

Volunteer work, internships, courses, certifications.

freelancing

No; depends on personality, risk tolerance, and income stability.

pretax dollars affect FSAs

They reduce taxable income, saving money.

math reason to join a 401(k) or HSA

Pretax contributions grow tax-deferred, increasing long-term value.

career advancement change in 10 years

More focus on skills, networking, and flexibility; less reliance on single employers.