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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 receive 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 withheld 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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Statement 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 you are leaving and an offer to help train your replacement
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