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10 Cards in this Set

  • Front
  • Back
Paid health insurance, paid vacations, paid holidays and other valuable "extras" your employer may offer you in addition to your wages
Fringe benefits
The TOTAL amount of your pay, BEFORE tax deductions
Gross pay
A type of wage where you earn a percentage (%) of what you sale. Example: Car Salesman
A tax that is withheld from your gross pay that goes to Medicare and Social Security
FICA tax
A type of wage based on a yearly amount, NOT an hourly wage. Example: a teacher
A type of wage that you earn PER HOUR for the work you complete. Example: McDonald's employees
Hourly Wage
A retirement savings account
Taxes, insurance and other items SUBTRACTED from your gross pay.
A type of wage that is paid to workers who produce individual items. Example: A seamstress who makes jeans
Piece rate
Your "take home" paycheck
(Gross pay - deductions = Take home pay
Net pay