32 terms

Real Life Challenge

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Application
A document you fill out when you apply for a job.
Employer
A person or business that hires workers
Deductions
An amount that is subtracted from a paycheck, such as taxes and retirement plans
Dependents
Family members that you support financially
Minimum wage
The lowest rate of pay allowed by law
Overtime
Extra time worked beyond the normal hours of the job.
Promotion
When you get a higher position at work. Ex: a teacher becomes a principal
Employee
People employed by an organization or business
References
People who are asked to recommend a person for a job
Resume
A summary of your educational and work experience.
Salary
A set amount of money paid at regular intervals; also referred to as income
Gross
Overall income or salary before taxes and other deductions
Net
Also called your "take home" pay or what you have left after deductions
Education
Training, classes, or other knowledge you need to perform a job
Communication
Skills needed to work with other people and exchange information
Savings
Your goal is to have at least 10% of your income in this account
Expenses
Refers to all the different things you pay for in a month, such as rent, car loan, etc.
Insurance
Protection against possible financial loss and unexpected events, such as a car crash
Uniform
Special type of clothing that may be required depending on your job
Taxes
A type of deduction paid to the state or federal government
Interview
A formal meeting between an employer and job applicant about a job opening
Career
Another term for your job or profession
Budget
A plan for spending money
Occupation
A job or profession
Career Clusters
Grouping of occupations and industries based on the knowledge and skills required; total of 16 groups
Associate's Degree
2 year college degree from a community college, university, college, or technical school.
Bachelor's Degree
An academic degree which usually takes four years to earn and is awarded by a college or university.
Master's Degree
An advanced 2-year program completed after attainment of a bachelor's degree.
Doctorate (PhD)
One of the highest earned academic degrees conferred by a university
Technical Program
A professional program with practical results, such as being a mechanic, nursing assistant, or accounting assistant
Insurance Policy
A contract that outlines coverage plans and protects a person against financial loss or damage.
Income
Money received, especially on a regular basis, for work or investments; also refers to your salary
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