Personal Finance Unit 1: Career Planning

Wages

Pay that is figured at an hourly rate  

Salary

Pay that is a fixed amount, regardless of hours worked  

Tip

A voluntary payment that a customer makes to an employee, often based on the quality of service provided 

Commission

Percentage of the total sale, paid to an employee, instead of, or in addition to salary or wages 

Entrepreneur

Someone or organizes, manages, and assumes the risk of a business 

Sole Proprietorship 

Business owned by one person  

Partnership 

Business owned by more than one person who are legally joined together 

Corporation 

Business owned by a group of stockholders 

Investing 

Committing money to an enterprise in order to earn a financial return 

**Goals**  

An accomplishment you want to achieve 

Grants 

Payments or properties given to people or institutions that do not have to be paid back  

Royalties  

A percent of the sales paid to an author, songwriter, or an inventor when copies of this creation are sold

Inheritance  

An amount of money, or something of value, given by someone who has died  

Plan of Action

A list of the steps needed to reach your career goal 

Job Leads  

Information about possible job opening  

Networking 

The process of building professional relationships that will assist both parties 

Employment Agencies 

Companies and Institutions that help people find jobs or that find people to fill jobs 

Portal Site 

A website that serves as an entrance to other related sites on the internet 

Application form 

A questionnaire that helps an employer determine whether or not an applicant is qualified for a job and should come in for an interview  

Personal Data Sheet

A detailed list of personal information which you bring to a job interview that makes filing out the application easier  

Work Permit  

An official document that verifies an employees age and usually outlines the duties that he or she is allowed to perform  

Resume 

A summary of a job applicant's personal information, education, skills, work experience, and special interest 

Keywords 

The words or phrases in a resume that a computer program will search for to determine whether an applicant is qualified for a job 

Cover Letter  

A short letter to accompany a resume introducing the applicant to an employer and explaining why the applicant would do a good job for the company 

Interview  

A formal meeting between an employer and a job applicant