Allowance
the number that you calculate on the w-4 form that reduces the amount of taxes withheld from your paycheck
apprenticeship
a combination of classroom instruction and on-the-job training
aptitude
a natural physical or mental ability; something you are good at
Benefits
part of an employee's compensation over and above wages or salary
Bonus
a form of incentive pay given by an employer to reward an employee for going above and beyond the job requirements
Career
a set of related work experiences that are built over a lifetime
commission
Income earned as a percentage of a sale made by an employee; also a percentage of sales paid to a seller.
cover letter
a personal business letter that introduces you to a potential employer
Deductions
amounts that are subtracted from your paycheck
derived demand
A condition where the demand for resources, including labor, comes from, or is derived from, the demand for the goods and services that are produced from these resources.
Dividends
distribution of the after-tax earnings that are distributed to company's shareholders
Earned Income
all the taxable income and wages you get from working
Exempt(tax)
not subject to be taxed, not included for tax purposes; w-4 status for individuals who had zero federal tax liability for the previous year and who expect to have zero federal tax liability for the coming year
FICA
an abbreviation for the Federal Insurance Contributions Act which requires two deductions from pay for Social Security and Medicare taxes
Garnishment
A court ruling that requires that money be deducted from a person's paycheck involuntarily in order to pay a debt.
Gross pay
the total amount of money earned before deductions or taxes are taken out of your paycheck
human capital
the knowledge and skills a person possesses
Incentives
an action or reward that motivates one to act a certain way
Inheritance
money or property that is left to you after someone dies
Interest
Money paid to you by a financial institution when you deposit funds there
Internship
a pre-professional work experience that can provide a student, recent graduate, or career changer with the opportunity to gain experience in a particular career field
Interview
a meeting with an employer to discuss your qualifications for employment
Job
a work experience or activity
Market value
the price a seller can expect to receive for a product in a competitive marketplace.
Net pay
What remains after voluntary and required deductions are subtracted from gross pay; your paycheck amount.
Overtime
Hours worked above 40 hours in a week, which must be compensated at 1.5 the hourly salary.
Piece rate
a method of pay where you receive payment based on the number of items produced correctly in a certain period of time
Productivity
a measure of the amount of output based on the amount of inputs used
R�sum�
a document that describes your work experience, education, abilities, interests, and contact information for people who can attest to your work ethic and character
return on investment
the percentage of the total cost of purchasing an investment and the profit made from selling that investment
salary
the price of labor in a flat amount, usually quoted monthly or annually and is typically determined by the supply of and demand for human capital
self-assessment
analyzing your own likes, dislikes, wants, needs, skills, and abilities to discover what career will best fit you
Tips
an amount paid to an employee by a customer based on how well he or she did a job
Unearned Income
money given to a person without the person having to work to receive it
Wage
income received from working, either paid hourly or by salary
W-4 Form
a form employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck