2.1 Vocab

The total amount an employee earns before deductions are subtracted.

Incentive pay based on quality of work done, years of service, or a company’s sales and profits

Time worked beyond regular hours

A form of compensation that encourages employees to strive for higher levels of performance.

A plan that allows employees to share a portion of the company’s profits at the end of the corporate year.

A fixed annual amount of gross pay.

Forms of employer compensation in addition to pay.

The amount left after all deductions are taken from an employee’s gross pay.

The point at which employees have full rights to their retirement accounts.

A fixed hourly rate earned by employees.