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Earning income

TermDefinition
Associate Degree An undergraduate academic program that typically takes two years of full time study to complete
Bachelors Degree An undergraduate academic credential award by colleges and universities upon completing a course of study that typically lasts four years
Benefits An advantage, profit, or helpful effect gained from something, or a payment and service provided by an employer, insurance policy or government program
Compensation Payment or rewards given for work done, or money paid to make up for loss, injurery, or suffering
Doctorate Degree The highest level of academic degree you can earn in most fields
FICA Federal insurance contributions act
Gross income The total amount of money earned from all sources before taxes and other deductions
Income tax Governments collect this money to fund public services like roads, schools. And national defense
College Major Primary field of study and the main focus of your undergraduate degree.
Masters Degree an advanced, postgraduate academic qualification earned after completing a bachelor's degree
Minimum wage the lowest hourly pay that an employer can legally pay a worker.
Payroll deduction amounts withheld from your gross pay to cover taxes, benefits, and other required or optional obligations
PTO Paid time off
Salary a fixed amount of money paid by an employer to an employee for work done
Wage payments made by an employer to an employee in exchange for work or services
Created by: Alavalle32
 

 



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