Teenagers Can Expect a Strong Summer Job Market

“It’s the ultimate financial literacy lesson for teenagers,” he said, adding that summer jobs reinforce basics like showing up on time and the value of money. “It’s a big difference,” he said, if your parents give you $10 for lunch with friends, “or if it’s money you actually worked for.” He said he hoped to work as a landscaper to save for college and will gain experience as a research assistant in consumer science at a university.

Tim Ranzetta, a founder of Next Gen Personal Finance, a nonprofit that makes lessons about money management for schools, said he worked summers as a golf caddie, which helped pay for college and allowed him to spend long hours with golfers who shared insights into the business world. He compared summer work to a financial “boot camp,” introducing skills like creating job applications, navigating tax forms, opening a bank account or arranging for direct deposits of paychecks.

How can I improve my odds of finding summer work?

Apply to multiple jobs, Ms. Modestino, the professor at Northeastern University, said. Young people can be “wildly optimistic” about their hiring prospects, she said, and might think that just because they submitted one application, they will be offered a position. But more applications can yield multiple offers, potentially giving you options for higher pay or flexible schedules.

Ask people you know if they are aware of openings, and don’t dismiss jobs that might lack an obvious link to your career interests. Aadi Gujral, 17, a rising high school senior in Danville, Calif., who created a money skills app for young people, said he was interested in working in finance and had done projects for his entrepreneur father. But he also said he had worked picking blueberries on his uncle’s farm.

“It exposes you to the real world,” he said. “And when you are earning your own money, you quickly realize the importance of every dollar.”

Can teenagers put summer earnings in a retirement account?

Yes. Summer employment can introduce teenagers to the benefit of savings, not only for short-term purchases but also for long-term security, said John Lanza, the author of “The Art of Allowance,” a book about teaching children to be financially literate. “It opens up conversations.”

Teenagers with earned income can contribute to a special retirement account known as a Roth individual retirement account. Setting aside even a small amount of earnings can start them on a path toward long-term saving, Mr. Lanza said, and parents may consider matching contributions as an incentive. Unlike money put into a traditional I.R.A., Roth I.R.A. contributions aren’t tax-deductible — but most teenagers don’t make enough to pay much income tax, so deductions are less helpful to them. Money invested in a Roth grows tax-free, and can be withdrawn tax-free as long as certain rules are followed.