Human Capital

cost of living index

Measures differences in the price of goods or services over time or regions.

Well-Being

self-perceived happiness or satisfaction with life. Used along with measures of objective well-being (for example, physical and economic indicators) to evaluate people's quality of life.

Transferrable Skills

talents and abilities that may be applied to a range of settings and job environments

Human Capital

the skills and knowledge gained by a worker through education and experience

Gross Pay

the total amount of an employee's earnings before deductions are taken out

Paystub

A document that comes with your paycheck, showing how much you were paid and how much was withheld for taxes.

employer

A person or organization that pays people to work for them.

job

A regular activity performed in exchange for payment

Occupation

Grouping of jobs that perform similar tasks

Net Pay

Amount of income left after taxes and deductions have been taken out.

Wages

An amount of money paid to an employee at a specified rate per hour worked

commission

An amount paid to an employee based on a percentage of the employee's sales

Career

An occupation undertaken for a significant period of a person's life and with opportunities for progress.

Earned Income

Any income (wages/salary) that is generated by working

Employee Benefits

Employers may offer employee benefits in the form of products or services that add extra value for employees beyond earned wages

Unearned Income

Income received from sources other than employment

Standard of Living

Quality of life based on ownership of necessities and luxuries that make life easier.

overtime pay

Required for nonexempt workers under FLSA at 1.5 times the regular rate of pay for hours over 40 in a workweek

Salary

a fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker.

work schedule

a set number of days or hours the employee is expected to work

employee

a worker who is hired to perform a job

Job Description

a written description of the basic tasks, duties, and responsibilities required of an employee holding a particular job

tips

an amount paid to an employee by a customer based on how well he or she did a job

cost of living

the cost of purchasing goods and services essential for survival

overtime

time worked beyond the regular hours