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Earning income

earning income

TermDefinition
Associate Degree a two-year undergraduate college qualification earned after completing about 60 credit hours, sitting above a high school diploma and below a bachelor’s degree.
Bachelors Degree an undergraduate academic credential awarded by colleges and universities after completing roughly 120 credit hours, usually taking four to five years of full-time study
Benefits Benefits generally fall into two main types: government assistance programs and workplace employee perks
Compensation the total amount of money, goods, or benefits given to someone in exchange for work, services, or as payment for a loss, injury, or damage
Doctorate Degree s the highest academic level you can achieve in a university
FICA FICA stands for the Federal Insurance Contributions Act
Gross Income Gross income is the total of all earnings, wages, and revenue received before any taxes, deductions, or expenses are subtracted
. Income Tax Income tax is a mandatory government charge levied on annual earnings like wages, salaries, and investments to fund public infrastructure and services
College Major A college major is your primary specific field of study that makes up about one-third to one-half of the classes you take to earn a bachelor's degree
. Masters Degree postgraduate academic credential that requires 30 to 60 credit hours of advanced study beyond a bachelor's degree
Minimum Wage A minimum wage is the lowest hourly pay that an employer can legally pay a worker
Payroll Deduction amounts withheld from an employee's gross pay to cover taxes, benefits, and other legal or voluntary obligations
PTO Paid time off
Salary a fixed, predetermined amount of compensation paid by an employer to an employee on a regular schedule
Wage financial compensation paid by an employer to an employee in exchange for labor or services,
Created by: lolmstead32
 

 



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