Performance Standard. MSCM8-2: Students will develop management skills that lead to academic and career success. Analyze the impact of stress and the importance of time and money management skills for academic, social, and career success. . Written by Barbara Mackessy. Oral Pre-test.
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Performance Standard • MSCM8-2: Students will develop management skills that lead to academic and career success. • Analyze the impact of stress and the importance of time and money management skills for academic, social, and career success. Written by Barbara Mackessy
Oral Pre-test • Why do people work? • What is the number reason why people across America work? • What are the four basic needs for survival? • How are people paid? • What are some advantages and disadvantages of being paid different ways?
Vocabulary word wall Psychological Pay Economics Wants Income By the Job Tips Social Hourly Wage Salary Commission Needs
Economics = Money • Wants and Needs • Needs – what you need to survive = food, water, clothing and shelter • Wants – what you would like to have, the extras
How are people paid? • Salary • Hourly wage • Commission • By the job • Tips • Or any combination of the above
Salary • Fixed compensation paid on a regular basis for services. • An agreement to work for a period of time for a specific amount of money. • You may be required to sign a contract.
Salary - Disadvantages • Set pay check • Long hours • More stress • More leadership needed usually
Assistant Principals Principals Teachers Assistant managers Managers CEO’s Administrators Governors President Ball players Executives Designers Engineers State and Federal employees Game Wardens Salary
Hourly wages • Money paid for labor and services for the specific time you were at work.
Hourly wages - Advantages • Paid overtime for extra • Paid for hours worked • Usually annual wage increases • Full time or part time work
Hourly wages - Disadvantages • Paid for only the hours worked • No set pay check • Less benefits • May or may not have retirement plans • Lower wages • Easier to replace
Commission • Paid a percent or a set amount for doing a service. • Paid a percent based on items sold. • Paid a percent based on money collected. • Set amount based on service provided.
Commission - Advantages • You set your own work hours • You set your own pay, the more you work the more you make • Could make large amounts
Real estate brokers Real estate agents Business agents Agents Door to Door Sales Retail sales Wholesale sales Commission
By the Job • A person is paid for the job that they completed.
By the Job - Advantages • Jobs equal money • More jobs more money • Hard work equals more money
By the Job - Disadvantages • No jobs equal no money • Have to recruit your own work • Not energetic less money • May not have any work • Bad weather less work
Brick layers Carpenters Cabinet makers Concrete installers Paving Income tax prepares Beauticians Pilots Field trip drivers Coaches Actors, Actresses Singers Dentist Free lance photographer Truck driver By the Job
Tips • Money left in addition to the basic charge for the service.
Tips - Advantages • Extra money – may be in addition to your hourly wage • Good attitude could equal good pay • May make large amounts
Tips - Disadvantages • May not get a tip • All people do not leave or believe in tips • Can’t depend on an amount • Not reliable
Waiter, waitress Cooks Bartenders Agents Bus drivers Tour guides Taxi drivers Displayers Deliverer Hostesses Models Musicians Singers dancers Tips
Let’s Review • Why do people work? • What is the number reason why people across America work? • What are the four basic needs for survival? • How are people paid? • What are some advantages and disadvantages of being paid different ways?
Which one is best for you? • You must decide for yourself. • Along with the money you must take a look at the benefits the job/career provides.
What are fringe benefits? • Items in addition to the paycheck that are provided by the company. • This could add up to a lot of extra things they you wouldn’t have to pay for out of your check. • The fringe benefits could be enough for you to select one company’s position over another company’s position.
Sick days Personal days Holidays with pay Vacation days Health insurance Dental insurance Life insurance Disability insurance Vision insurance 401, 403K plans Retirement plans Day care options Automobile provided Travel with mileage Food allowance Supplies and Equipment provided Flex time Birthday off with pay Early retirement Percentages off merchandise Benefits
What are your values? • How will your values influence your job or career choices in the future?
Interesting work- • Work that appeals to you • Work that is not boring and that gives you the opportunity to do a variety of tasks.
Routine work • Work that requires no complex skills. • You know what you have to do, and do it. • Usually involves doing the same task over and over again
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