The following code works:
$(\"#select-id\").change(function(){ var cur_value = $(\'#select-id option:selected\').text(); . . . });
How
var cur_value = $(this).find('option:selected').text();
Since option is likely to be immediate child of select you can also use:
option
select
var cur_value = $(this).children('option:selected').text();
http://api.jquery.com/find/