Transition Advisory Pathways Workshop

Presentation Directions:

© 2008 by Cortez Management Corporation. Workshop not to be used without proper license.

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Impact of Education on

Career Options

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Did you know…You can put a dollar

value on education?

Highest Education Achieved One Week’s Salary

High School Dropout $440

High School Graduate $597

Associates Degree $704

Bachelors Degree $1092

Graduate Degree $1220

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the average high school

dropout makes

$22,800.

In a year’s time…

the average high school graduate makes

$31,044.

That’s a difference of $81,640 in 10 years.

Each year the average high school graduate makes $8,164

more than someone who dropped out.

$ < $$

44

Five years after graduation…

the average high school graduate makes

$31,044.

the average college

graduate makes

$56,764.That’s a difference of $25,720 per year.

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While an undergraduate degree may cost you…

$15,000

$20,000

$40,000 or more

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The average lifetime salary difference between a high school

graduate and a college graduate is $800,000.

Is your future

worth the cost of a degree?

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Assign students activity .Then click to the next slide to begin the next part of the presentation.

Which careers are you interested in?

Where do you see yourself

in 10 years?

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Did you know…

there are numerous opportunities within the same

career fields?

Hospitality

٠Hotel Manager

٠Conference Coordinator

٠Theme Park Guest Relations

Public Service

٠Social Worker

٠Judge

٠Firefighter

Medicine

۰Nurse

۰Physician

۰Radiological Technician

…and there are different

pathways to each career?

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For example: Eric Wilson, MD

٠Attended a public university = $18,000 per year

٠Enrolled in in-state Medical School = $32,000 per year

٠Followed by 3 years as a resident physician in training.

10 years after graduating high school, Eric has almost finished with his education.

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Maria Espinoza, RN

٠ Attended college for 2 years in a community college and transferred to a public university for 2 years = $15,000

٠ Enrolled in a 2 year nursing program at a hospital for $5,000

10 years after graduating from high school, Maria is a registered nurse. She has been working in a physician’s office for 4 years.

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Andrew Lisner, Radiology Technician

٠ Attended a 2 year program at a community college = $5,000

10 years after graduating from High School, Andrew is working at a hospital.

He has been working as a Radiological Technician for 8 years.

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All of them work in the medical field, but in different ways…

…and the road to get to their careers was different for each.

The number of years it took to get their degrees is different.

10 years to

complete

6 years to complete$52,385 2 years to

complete

Their salaries are different.

$90,000 $44,569

The amount of money spent to get their educations is different.

Total cost $82,500

Total cost $20,000

Total cost $5,000

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Almost all professional

careers require more than a High School education.

College can be

expensive, but it

doesn’t have to be.There are many options that

can significantly decrease the cost of a degree.

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Easy ways to reduce the cost of a college:

1. Attend a public in-state college 2. Take basic courses

at a community college, then transfer to a university

3. Apply for scholarships

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Discuss with students .Then click to the next slide to begin the next part of the presentation.

Scholarships… …are just one of the many ways

that you can help pay for college.

Scholarships can be given for both academics and interests. For example:

٠ Great grades or test scores

٠ Extra Curricular activities

٠ Organization or Club participation

٠ Future Career interests

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Loans may also be a possibility

Loans can be secured through numerous sources including:

۰Banks

۰Independent Lenders

۰Federal and State Government Agencies

… and the interest rates on educational loans are usually very low!

Remember, most loans don’t have to be repaid until after

you graduate.

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The military will also help pay for school…

Scholarships are available for ROTC students

especially if you are interested in

careers in medicine or technology.

Educational funds are provided to members of the Armed Forces.

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Or if you don’t have the time to be a full-time student…

there are other options including:

Online Courses

Weekend Programs

Night Classes

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…and it’s always worth the cost.

Education is an investment in yourself…

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Assign students activity .Click to the next slide to view worksheet section of presentation.

Activity Worksheet Section

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Includes:

• Activity 1: Section A

For Section A of the worksheet, have students place a check next to the sentences that will apply to you and fill in the appropriate blanks. Then, ask students to use their cost estimates and the tips listed at the bottom of the worksheet to fill in the chart. Ask students to use a 4% increase per year to calculate the cost of your expenses each year after the first year. Based on their budgets, students should decide which level of education they will need to complete in order to support the cost of their lifestyles.

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Impact of Education on Career Options: Activity 1-Section A

Section A Think about your life at the age of 25. Place a check next to the sentences that will apply to you and fill in the appropriate blanks. _____ I will live with a roommate(s). How many? _______

(If you live with a roommate you have split the cost of rent, utilities, cable, and Internet access.) _____ I will have an apartment, town house, condo, or house.

How many bedrooms? _____ How many bathrooms? ______ My payment will be $___________ per month.

_____ I will pay for my apartment to have water, electricity, heat and air conditioning. My utilities will cost $_______ per month.

_____ I will have cable. My cable will cost $_____ per month. _____ I will have Internet access in my home. My Internet access will cost $_______ per month. _____ I will have a cell phone. My cell phone will cost $_______ per month. Consider your personal expenses: _____ I will have a car. My car will cost $___________ total to buy. My car payment will be $________ per month. My insurance will cost $_______ per month. I will spend $___________ in gasoline each month. _____ I will prepare meals at home. My groceries will cost $_________ per month. _____ I will take care of my home and my own wellbeing.

My non-food groceries for home care will cost $______ per month. (This includes items like toilet paper, paper towels, and household cleansers.) My personal hygiene products will cost $______ per month. (This includes items like toothpaste, shampoo, soap, lotions, and laundry detergent.)

_____ I will go out for meals and entertainment. My meals out will cost $________ per month. My entertainment (movies, concerts, etc,) will cost $______ per month. _____ I will buy new clothes. How many shirts? ______ How many pairs of pants? ______

Activity 1A

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Section A (continued) Think about your answers. Remember, if you live with a roommate, you will split the cost of rent, utilities, cable, and Internet access. If you choose not to prepare meals at home, you will be eating out most of the time which is more expensive. Be sure to adjust your numbers if necessary. Using your cost estimates, fill in the chart below. Use a 4% increase per year to calculate the cost of your expenses each year after the first year.

Living Expenses Your Cost per Month Your Cost per

Month (5 years later)

Your Cost per Month

(10 years later) Rent/Mortgage Utilities Cell Phone Internet Cable Car Payment Car Insurance Gasoline Groceries Home Care Groceries Personal Hygiene Products

Meals Out Entertainment Clothing

Total Tips:

- The average house size is 1,500 square feet with 3 bedrooms and 2 baths. This home in Richmond, VA would cost approximately $200,000. This price could go up or down depending on the location.

- The average 3 bedroom apartment is approximately $900 per month. This price could go up or down depending on the location.

- Utilities are increased by square footage of the space. For example, if a 1,000 sq. foot apartment costs $200 per month then 2,000 square feet would cost $400 per month.

- Food costs are approximately $400 per person per month. For each additional person, add 50% more for each. For example, 2 people would cost $600, 3 people would cost $800 and so on.

Activity 1A (continued)

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Section A (continued) Based on your budget, which level of education will you need to complete to support the cost of your lifestyle?

Highest Education Achieved Average One Month’s Salary

after Taxes High School Dropout $1,220 High School Graduate $2,069 Associates Degree $2,440 Bachelors Degree $3,085 Graduate Degree $4,230 How much money do you think you will earn the first year you finish your education? __________________________

Activity 1A (continued)

Activity Worksheet Section

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Includes:

• Activity 1: Section B

For Section B, Begin by going over the chart (located on the next page) that appears at the top of the students’ worksheets. The chart indicates the average costs for living expenses in Virginia.

Remind students that the chart does not include additional costs for a cell phone, internet, cable, clothing, entertainment, or health insurance (most employers require 50% contribution to health insurance. An HMO plan for an individual who is married with no children is $450 per month.).

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Impact of Education on Career Options: Activity 1-Section B Section B: The chart below indicates the average costs for living expenses in Virginia.

Living Expenses Cost per Month Cost per Year Rent (2 bedroom 1,000 sq. foot apartment with 1 roommate )

$350 $4,200

Utilities split with roommate (water, electricity, heat & air conditioning, trash)

$99 $1,188

Car Payment ($8,000 car) $265 $3,180 Car Insurance $83 $1,000 Gasoline (one tank of gas per week) $140 $1680 Food $400 $4,800 Non-Food Necessities (household, paper, and personal hygiene products)

$100 $1,200

Total $ 1,437 $ 17,244 Remember, this does not include additional costs for:

Cell Phone Internet Cable Clothing Entertainment Health Insurance (most employers require 50% contribution to health insurance. An HMO plan

for an individual who is married with no children is $450 per month.) The current minimum wage is $7.25 per hour. If you were to work 40 hours a week for a year, your annual wages would be $15,080 before paying taxes. Most employees who earn minimum wage have not pursued any further education past high school. In a short paragraph, describe how you would survive making only minimum wages. Would you work more hours? Which non-essential costs would you give up?

Activity 1B

Activity Worksheet Section

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Includes:

• Activity 1: Section C

For Section C, discuss the following questions with students:

Now that students have established a budget for their monthly expenses over the course of 10 years, how does it align with their lifestyle plans? Based on the expected cost of living for the next 10 years, what do you need to accomplish to satisfy your financial obligations?

Are they planning on continuing education past high school?

Are they planning on working 2 or more jobs?

Will they be living with a roommate for a while?

Activity Worksheet Section

2828

Includes:

• Activity 1: Section C

For Section C (continued):

Have students continue thinking about their future by assigning this section for homework. What goals do they have for education, work, finances, and lifestyle? Instruct students to write a short paragraph explaining their goals for the times indicated below:

What goals and objectives for the first year after you complete your education?

What goals and objectives do you have for 5 years following the completion of your education?

What goals and objectives do you have for 10 years following the completion of your education?

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Impact of Education on Career Options: Activity 1-Section C Section C: Now that you have established a budget for your monthly expenses for your lifestyle over the course of 10 years, how does that align with your lifestyle plans? Based on the expected cost of living for the next 10 years, what do you need to accomplish to satisfy your financial obligations? Are you planning on continuing education past high school? Are you planning on working 2 or more jobs? Will you be living with a roommate for a while? The more you think about the answers to these questions, the better prepared and successful you will be in the future. Continue thinking about your future. What goals do you have for education, work, finances, and lifestyle? Write a short paragraph explaining your goals for the times indicated below:

What goals and objectives for the first year after you complete your education? What goals and objectives do you have for 5 years following the completion of your

education? What goals and objectives do you have for 10 years following the completion of your

education?

Activity 1C

Activity Worksheet Section

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Includes:

• Activity 1: Section DFor Section D, Hand out “Activity 1D” worksheet. The objective of

this worksheet is to have students take their answers from the previous activities a step further by developing a life-long timeline (until age 78).

Students will be required to create a pie graph to show the amount of time they plan to commit to education and training, and the amount of time they expect to be active in the workforce. This graph should factor the ratio between time spent preparing for their chosen career and time spent working.

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Impact of Education: Activity 1-Section D

1. Enter the total number of years of education: _______ (Include K-12, 14, 16 years or more - Example K to Bachelors Degree = 17 years.)

2. Enter the total number of working years, identify the age you intend to begin full time employment and subtract that number from the age you intend to retire: __________ (Example: Retirement at 65 years old – Begin employment at 21 years old = 44 years.)

3. For this activity, assume age mortality of 78 years old. 4. Calculate and create a Pie Graph showing the percentage of your life spent in school, at work and at

play (including retirement). Example:

School years = 16 years Work years = 44 years Add At play: 0 to 5 = 5 years/With Retirement: 65 to 78 = 13 years + 5 years = 18

Fill in your Pie Graph:

School years = ____ years Work years = ____ years Add At play: 0 to ____ = ____ years/With Retirement: ____ to 78 = ____ years + ____ years = 18

Pie Graph Example

School Years 16/78 = 20.5% Work Years 44/78 = 56.5% At Play/Retired 18/78 = 23.0%

School

Work

At Play/Retired

______________ Pie Graph

School Years ______ = ____% Work Years ______ = ____% At Play/Retired ______= ____%

Activity 1D