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High School

Student
Career
Planning
College, Career & Life Planning

Questions for Students


1. How many hours have you invested in
school
between grades 1-12?
2. Why do you go to school?
3. Is it smart to select a HS extracurricular
activity
at random? A career?
4. What is the best career in the world?
5. When are you required to decide on your
career?
College, Career & Life Planning

Think About It
People Often Invest More Time
Planning Their Vacation Than
Planning Their Career.

College, Career & Life Planning

Career Decision
Determines
1. How you spend most of your "awake" hours for the
next 40 years?
2. Your opportunities for personal satisfaction and
growth?
3. Your ability to meet your family's needs
(e.g. housing, medical, college)?
4. Your ability to eventually retire with the financial
resources to enjoy it?
College, Career & Life Planning

Career Planning
Dilemma
The Stakes Have Never Been Higher
The Tools are Available
The Challenge is to Inform &
Motivate
College, Career & Life Planning

Lifetime Value
of Education
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Less than
High School
Diploma

High School
Diploma

College, Career & Life Planning

Some College
w /o Degree

Associates
2 yrs.

Bachelors
4 yrs.

Masters
6 yrs.

Prof essional
7+ yrs.

Doctoral
8 yrs.

Hours Invested
90000
80000
70000
60000
50000
40000
30000
20000
10000
0
Grades 1-12

College, Career & Life Planning

College

Working

How Much Income


Do I Need?
Annual Income Required
(Given Various Interest Rates)

House Price
$100,000
$150,000
$200,000
$250,000
$300,000
$400,000

6.0%
$32,857
$49,286
$65,714
$82,143
$98,571
$131,429

6.5%
$34,229
$51,343
$68,457
$85,571
$102,686
$136,914

7.0%
$35,643
$53,464
$71,286
$89,107
$106,929
$142,571

7.5%
$37,143
$55,714
$74,286
$92,857
$111,429
$148,571

8.0%
$38,600
$57,900
$77,200
$96,500
$115,800
$154,400

Assumptions
o 30 yr. fixed rate mortgage. Property tax & Insurance is 2% of market value.
o No downpayment.

100% of house price is financed to simplify analysis.

o Principal, Interest, Prop Tax & Insurance will be 28% of Gross Income
o House is a family's biggest expense and a reasonable indication of lifestyle.

College, Career & Life Planning

How Much Will A


House Cost?
Median Price of Existing Single Family Homes
(Select U.S. Cities) 2004
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0

College, Career & Life Planning

Why Motivating Youth


is Difficult
Easy to procrastinate.
Parents fell into their jobs.
Too scary to think about.
Too busy. No more homework!
Dont know where to begin.
Dont see the value.
College, Career & Life Planning

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Result: Poor Choices,


Waste and Frustration
My son just graduated from college. He doesnt have a clue
what he wants to do. Maybe forensics. Maybe art.
My daughter is a sophomore in college and she hates her
major (accounting). She is changing majors, but doesnt know
what to choose. That means at least one more year of college
that we cannot afford.
Now that I have a college degree, I need to think about a
career. I majored in Marketing, but Im not sure thats what I
want to do.
I hate my major, but switching involves two more years of
college. My parents would kill me. Ill gut it out. Maybe Ill
learn to like it.
I wish I had known four years ago what I know now. I would
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College, Career & Life Planning

Typical Resources
Used to Pick a Career
1. TV => There is a big difference between TV drama and
real life.
2. Friends => Theyll know what sounds cool, but unless
they have proactively used the career /college tools
available, they are probably not a knowledgeable source of
information.
3. Lifes Interactions => OK, you have used the services of
Dentists, Pharmacists, Teachers, etc. but Do you really
know what it is like to do their job?
4. Parent => A great source, if your parents career happens
to be the right one out of several hundred possibilities for
you.
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College, Career & Life Planning

Better Resources to
Pick a Career
Free on-line resources
1. To clarify your interest/fit with various careers
2. To compare your personal skills/strengths
against those required by various careers
3. To determine which careers offer the most
opportunity
4. To develop your list of careers for
consideration
5. To learn about the nature of work, education
College, Career
& Life Planning job outlook, earnings, etc.
requirements,

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Better Resources to
Pick a Career
Talk to People in Careers of Interest
1. Parents Friends
2. Friends Parents
3. Acquaintances from Lifes Interactions (e.g.
teachers, dentists, store managers)
4. Career Day Presenters
5. Volunteering, Internships, Job Shadowing
College, Career & Life Planning

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Suggestions Before
Starting
1. Don't select a career based solely on $$$.
2. Do pick a career for which jobs are available with income
levels adequate to meet your family's financial needs.
3. Don't expect a quick, easy answer. The career planning
process requires time and effort. Invest the time to
identify/evaluate careers that "fit" your needs, interests and
abilities.
4. Do use a variety of tools and talk to several people in each
career of interest.
5. Don't get discouraged or discredit the process when some
obviously unacceptable careers appear on a list generated by
an interest assessment tool (they will). Career planning is not
a precise science. Reason and judgment must be applied.
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College, Career & Life Planning

Suggestions Before
Starting

Do think about the process as a way to significantly improve


your odds (with no guarantee) of selecting a great career. The
following table is my rough estimate of how your odds for
choosing a great or "perfect" career improve by making an
informed decision.
Random
Gut
Informed
Decision
Feel
Decision
Perfect Career
1%
5%
20%
Great Career
4%
20%
50%
Acceptable Career 60%
50%
20%
Terrible Career
35%
25%
10%
For example, I estimate that your probability of selecting a "perfect career is about
1% if you make a random decision vs. 20% if you make an informed decision.

College, Career & Life Planning

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Career Planning Proces


Your Strengths
(e.g., creativity,
leadership, writing)

Your Interests
(e.g., people, math, science)

Your Needs
(e.g., income, growth,
personal fulfillment)

Identify Career
Possibilities
Occupational
Outlook Summaries

Networking, Internships, Job


Shadowing, Volunteering

Evaluate/Select a
Career
College, Career & Life Planning

CareerOneStop Job
Summaries & Videos

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Career Planning Proces


1. Get motivated
2. Self Analysis
3. Develop a list of jobs to consider
4. Get on-line information for evaluation
5. Evaluate job options
6. Prepare a job comparison summary
7. Talk to people in occupations of strong interest.
8. Choose the right industry and company.
College, Career & Life Planning

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Web Site Tool Demo


www.collegecareerlifeplanning.com
Tools
College Planning Tools (Selecting, Applying &
Financing)
Career Planning Tools (Self-assessment, Identify
Careers Prospects, Retrieve Required Information,
Evaluate Careers, Company/Industry Information,
Evaluate Companies/Industries, Job Basics)

College, Career & Life Planning

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The Door is Open.


Will You Enter?
Invest time to review/use the
tools
to make informed decisions.
Tell others who might benefit
(friends,
cousins, neighbors, siblings)
College, Career & Life Planning

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