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Earning Income
| Term | Definition |
|---|---|
| Associate Degree | an undergraduate academic program that typically takes two years of full-time study to complete. |
| Bachelors Degree | an undergraduate academic credential awarded by a college or university after completing a multi-year course of study |
| Benefits | n advantage, profit, or helpful effect gained from something |
| Compensation | the total amount of cash, benefits, and rewards given to an employee or contractor in exchange for their work |
| Doctorate Degree | the highest academic level you can reach in a university or field of study |
| FICA | mandatory U.S. federal payroll tax. |
| Gross Income | the total money earned by an individual or a business before any taxes, deductions, or operating costs are subtracted |
| Income Tax | Tax deferral means postponing the payment of income taxes to a future date |
| collage degree | an official academic credential awarded by a college or university once you successfully complete a required program of study |
| Masters Degree | an advanced postgraduate academic qualification given by a college or university |
| Minimum Wage | the lowest hourly pay that an employer can legally pay a worker. |
| pto | Paid Time Off |
| Salary | a fixed amount of money paid by an employer to an employee on a regular schedule |
| Wage | the money an employee receives from an employer in exchange for their labor |