Salary and Beyond

You don't get all of your paychecks

What are net and gross pay?

Gross pay is the amount prior to tax withholdings. The net pay is the amount you "take home" after taxes have been withheld.

How to evaluate salary

A salary evaluation is a process for ensuring the wages being paid are on par with the market. Should be done at least annually. Employees are evaluated and communicated with on a regular basis to ensure how they are doing their job. They may be given raises for good evaluations. It should be made into a habit to regularly review salary data.

  • Overtime pay
  • Commission
  • Tips
  • Bonuses
  • Performance Reviews
  • Opportunities for promotion

Types of benefits & what they are

  • Paid Leave- paid time off for holidays, vacation, and illnesses
  • Health Insurance- Group health insurance dramatically lowers what you pay to see doctors, get prescriptions, and go to the hospital. Dental and vision insurance may also be offered.
  • Retirement Savings Plans- You can contribute to a workplace retirement plan and even receive additional money.
  • Life and Disability Insurance- Insurance that pays if you die or become unable to work due to an illness, injury, or other impairment.
  • Tuition Assistance- Your employer pays all or part of tuition expenses toward a degree or certification.
  • Training and Professional Development- your employer might offer or pay for classes, workshops, or conferences for the purpose of enhancing your skills or attaining a required license.

Other benefits a company may offer

  • Employee discounts
  • On-site child care or child-care assistance
  • Flexible work schedule
  • Free or discounted parking and bus passes
  • On-site gym facilities or membership to a local gym
  • Free or discounted on-site meals
  • Uniforms or a clothing allowance
  • Smartphone, tablet, or laptop
  • Telecommuting options
  • Company vehicle
  • Wellness programs