ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Some examples of what career advancement might look like are: Getting a promotion. Moving into a new department or field. Expanding your job responsibilities.

Detailed explanation-2: -Though promotion is the most common form of professional advancement, your career growth plan may involve moving from your current employer to a higher-level role within a new organization. The term career lattice is also used in reference to career growth.

Detailed explanation-3: -However, advancement differs from job promotion in several ways. Differences can include salary, authority, job duties and responsibilities and even location or territory. Presumably, all promotions are deemed career advancement, yet all instances of career advancement aren’t promotions.

Detailed explanation-4: -A promotion is when an employee advances to a position that is classified at a higher salary grade, or in certain circumstances, an acknowledgment of significant greater responsibilities within the same grade.

Detailed explanation-5: -There are four types of career paths-knowledge-based, skill-based, entrepreneur-based, and freelance. Every kind of career path caters to a specific set of qualifications that help you perform your job.