Personal Finance Chapter 2 Terms

social networking

A set of connection of friends, colleagues, and other personal contacts with a common interest who use websites or other technologies to communicate with each other and share information and resources.

career plan

A strategic guide for your career through short-, medium-, longer-, and long-term goals as well as future education and work-related experiences.

gig economy

A workplace economy that allows independent contractors (rather than employees) to move from one temporary job to the next without benefits.

STEM majors

Academic majors in science, technology, engineering, and mathematics.

Career planning

Can help you identify an employment pathway that aligns your interests and abilities with the tasks and responsibilities expected by employers over your lifetime.

career ladder

Describes the progression from entry-level positions to higher levels of pay, skill, responsibility, or authority.

employment agency

Firm that locates employment for certain types of employees.

Employee benefits

Forms of remuneration provided by employers to employees that result in the employee not having to pay out-of-pocket money for certain expenses; also known as nonsalary benefits

career goal

Identifying what you want to do for a living, whether a specific job or field of employment.

professional abilities

Job-related activities that you can perform physically, mentally, artistically, mechanically, and financially.

professional interests

Long-standing topics and activities that engage your attention.

Professional networking

Making and using contacts with individuals, groups, and other firms to exchange career information.

Freelancing

One chooses to be employed with a more flexible work arrangement (often part-time) than full-time on a contract basis, often working at home, for a variety of companies, as opposed to working as an employee for a single company.

entrepreneur

One who is starting out a company and is hopeful about their situation because they organize, manage, and assume the risks of a business or enterprise.

functional format

Résumé that emphasizes career-related experiences.

skills format

Résumé that emphasizes your aptitudes and qualities.

chronological format

Résumé that provides your information in reverse order, with the most recent first.

Interest inventories

Scaled surveys that assess career interests and activities.

résumé

Summary record of your education, training, experience, and other qualifications.

trial hires

Temporary workers that could last a week or two to determine if candidates can do the work and fit in with the corporate culture.

job referral

The act recommending someone to another by sending a reference for employment

modern code

The language of the digital world, which is writing the source code for a computer program.

career

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

Aptitudes

The natural abilities and talents that individuals possess.

breadwinner

The person in a family who earns an income that is primary to a unit of people who are dependent on the person's income.

Values

The principles, standards, or qualities that you consider desirable

human capital

The skill set, knowledge, and other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

elevator speech

This is a short, persuasive summary of your experiences and skills when networking.

digitalization

This is using digital technologies into everyday life to change a business model.

lifestyle trade-off

Weighing the demands of particular jobs with your social and cultural preferences.

no-limits jobs

Where people, especially younger workers, are employed in entry-level positions where they are expected to be on-call via a mobile device at all hours of the day and night.

work-style personality

Your own ways of working with and responding to job requirements, surroundings, and associates.