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Making Money Vocab

Vocab dealing with Jobs

QuestionAnswer
Monetary or non-monetary gain received because of an action taken or a decision made Benefit
Amount withheld by an employer from employee's earnings Payroll deduction
Income tax that takes a larger percentage from someone who makes a larger income and a smaller percentage from someone who makes a smaller income. Progressive Tax
The total amount of an employee's salary including allowances, overtime pay, commissions, and bonuses, and any other amounts, before any deductions are made. Gross Pay
Portion of a salary or wages that an employee actually gets (takes home) after paying all deductions and taxes. Net Pay
Costs you did not expect to incur when you accepted your job. Hidden job costs
Financial support system established under law to provide income, medical care, and rehabilitation to employees for illness, injury, or death arising out of, and in the course of, their employment whether or not the employee was at fault Workman's Compensation
A federal law that requires large employers to provide unpaid leave to employees who are experiencing a serious illness or who need to care for a sick family member or new child. Family & Medical Leave Act
Numerous plans that allow an employee to save for certain life events with pre-tax dollars; Tax Deferred Benefits
Program that gives the qualifying employees the right to buy the firm's common stock (ordinary shares) at a discount. Employee Stock Option Plan
Created by: ritaephillips