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earning income

TermDefinition
associate degree an undergraduate academic qualification that typically takes two years of full-time study to complete.
bachelors degree an undergraduate academic credential awarded by colleges and universities upon completing a course of study that typically lasts four years.
benefits non-wage financial supports, compensation, or services provided by employers or governments to assist with healthcare, retirement, and daily living expenses
compensation the total cash and non-cash rewards given to a person in exchange for work, services, or as a remedy for a loss, injury, or wrong
doctorate degree A doctoral degree is the highest academic level of education you can earn in a university field.
FICA Federal Insurance Contributions Act, which is a U.S. federal payroll tax deducted from employee paychecks to fund Social Security and Medicare
gross income the total amount of money earned from all sources before any taxes, deductions, or expenses are taken out.
income tax Income tax is a mandatory fee charged by a government on the earnings of individuals and businesses.
college major Choosing a college major involves picking a primary field of study for your undergraduate degree.
masters degree an advanced academic qualification awarded by universities after completing graduate-level studies
minimum wage the lowest amount of money an employer can legally pay a worker for their labor.
payroll deduction the amounts an employer subtracts from an employee's gross pay to cover taxes, benefits, and other legal or voluntary obligations
pto Paid Time Off
salary fixed, regular payment made by an employer to an employee in exchange for work perform
wage a payment of money given to a worker for labor or services, usually calculated by the hour, day, or piecework.
Created by: mglasier32
 

 



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