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Earning income

TermDefinition
Associate Degree a degree that is given to a student who has completed two years of study typically
Bachelors Degree degree that is given to a student by a college or university usually after four years of study
Benefits something that produces good or helpful results or effects or that promotes well-being : advantage
Compensation the total amount of money, benefits, or awards given to a person in exchange for their work, or paid to cover a loss, injury, or wrong
Doctorate Degree 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 wages to fund Social Security and Medicare.
Gross Income the total amount of money earned by an taxes, deductions, or expenses are subtracted
. Income Tax An income tax is a mandatory government levy charged on the financial earnings and profits of individuals and businesses
College Major your primary area of academic focus or specialization during your undergraduate studies.
. Masters Degree an advanced academic qualification that you earn after completing a bachelor's degree
Minimum Wage the lowest hourly, daily, or monthly pay that employers can legally give to their workers
Payroll Deduction the amounts subtracted from your total gross earnings to cover taxes, benefits, and other obligations, resulting in your net take-home pay.
PTO paid time off,
Salary a fixed amount of money paid by an employer to an employee on a regular schedule, usually expressed as an annual sum.
Wage the financial compensation paid by an employer to an employee in exchange for labor or services rendered
Created by: Lsouter32
 

 



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