Financial Algebra - Unit #2 - Career Vocabulary

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401(k) Plan

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A retirement savings plan, sponsored through your employer who will often match your contributions, that allows an individual to save for retirement.

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Apprenticeship

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A paid career-training program where students learn on the job in addition to some classroom instruction.

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Benefits (ie. Job Benefits)

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The extras an employer provides employees in addition to pay, such as health insurance or paid time off.

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Cover Letter

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A letter that you send with your resume to explain your qualifications and interest in a particular job opportunity.

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Elevator Pitch

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A 30-second personal summary with a request.

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Direct Deposit

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An automatic electronic deposit of net pay to an employee's designated bank account.

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Employee

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A person who works for another in return for financial or other compensation.

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Freelance Worker

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A self-employed person who earns money on a per-job or per-task basis, often from different companies. They are considered an 'independent contractor'.

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Full-time work

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Work that averages at least 30 hours per week.

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Gig Economy

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A labor market where the majority of people have short-term jobs or gigs such as freelancing and temp jobs rather than long-term employment.