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earning income

TermDefinition
associate degree an undergraduate academic qualification awarded to a student who completes a two year course of postsecondary study.
bachelors degree an undergraduate college that typically takes about four years of full time study
benefits an advantage, improvement, or helpful effect that comes from something.
compensation something of value, usually money or benefits, given in exchange for work or to make up for loss.
doctorate degree the highest academic or professional degree you can earn in a given field of study.
FICA 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 taxes and other deductions are removed.
income tax a tax based on what you earn rather than what you buy or own.
college major primary field of study.
masters degree an advanced postgraduate academic qualification awarded by universities after completing specialized study beyond bachelor's degree.
minimum wage the lowest hourly pay rate that an employer can legally pay workers.
payroll deduction the amounts subtracted from your total earnings (gross pay) to cover taxes, benefits, and other costs before you receive your take-home pay (net pay.
PTO Paid Time Off.
salary is a fixed amount of money paid by an employer to an employee on a regular schedule.
wage a payment of money given to a worker in exchange for labor or services.
Created by: nrice32
 

 



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