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10 Cards in this Set

  • Front
  • Back
Compensation
Total amount of income and benefits a person receives for his or her job
Overtime Pay
Wage receive for working more than 40 hours a week, usually 1.5 times the normal hourly wage
Gross Pay
Amount of salary or wages that a person earns during a certain period of time
Deductions
Certain amounts that are withheld from the paycheck of an employee; various nontaxable items such as donations to charity or churches and mortgage interest
Net Pay
Pay that a person has left to take home after all deductions have been made
Statement of Earnings
Pay statement; the attachment to a paycheck that shows gross pay, deductions, and net pay
Automatic Raise
Regular pay raise received by all employees
Merit Raise
Raise based on the amount and quality of an employee's work
Promotion
Advancement to a higher-level job or position within a company
Letter of Resignation
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