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10 Cards in this Set
- Front
- Back
Compensation
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total amount of income and benefits a person receives for his or her job
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overtime pay
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wage received for working more than 40 hours a week, usually 1.5 times the normal hourly wage
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Gross pay
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amount of salary or wages that a person earns during a certain period of time
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Deductions
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Certain amounts that are witheld from the paycheck of an employee; various nontaxable items such as donations to charity or churches and mortgage interest
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net pay
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pay that a person has left to take home after all deductions have been made
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statements of earnings
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pay statement; the attachment to a paycheck that shows gross pay, deductions, and net pay
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automatic raise
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regular pay raise received by all employees
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merit raise
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raise based on the amount and quality of an employee's work
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promotion
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advancement to a higher-level job or position within a company
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letter of resignation
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a letter written by an employee notifying an employer of the intent to quit a job; it should include the fact that you are leaving, a date when you plan to leave, the reason that you are leaving, and an offer to help train your replacement.
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