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Career Path Vocab.

Career Path Vocabulary

TermDefinition
Basic Necessities An individual's needs that are essential to their health and welfare such housing, utilities, food, transportation and health care.
Career Categories A defined category or group of jobs. Each job within the category requires a similar amount of education, training and experience.
Employee An individual who works for another individual or business and is paid money at regular intervals for the work they perform.
Full Time Employee An employee that works 40 or more hours each week for their employer and is entitled to employment benefits, and possibly fringe benefits.
Part Time Employee An employee that works less than 40 hours each week for their employer and may or may not be entitled to employment and fringe benefits.
Salaried Employee A worker whose income is based on a negotiated annual amount that is paid in equal installments over the course of the year.
Total Compensation The total amount of money received by an employee from an employer plus the cash equivalent value of the employment benefits received by the employee.
Cash Equivalent Value The monetary value of an employment benefit (Employee or Fringe) that is equal to what the employee would have to pay to receive the same benefit if it was not provided by the employer.
Employee Benefits The benefits, such as paid vacation time and health insurance, provided by employers to their full-time employees. These benefits are considered additional income or cash equivalent income for the employees.
Human Capital The education, knowledge, skills, experience and other attributes a worker acquires before and after they begin working.
Bureau of Labor Statistics (BLS) The government agency responsible for tracking income, expenses and labor statistics in the United States.
Career Goals The unique and personal goals an individual wishes to accomplish as a result of working.
General Equivalency Diploma Commonly abbreviated as a 'GED'. A GED is generally considered equivalent to a high school diploma for individuals who did not complete high school.
Created by: Atalia