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2.2 Benefits and Job Expenses

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1 2.2 Benefits and Job Expenses
Lesson 2.2 4/23/2017 2.2 Benefits and Job Expenses Find total job benefits Find net job benefits Compare the net job benefits of jobs Lesson 2.2 BUSINESS MATH

2 Total Job Benefits In addition to wages, many employers provide other things of value called employee benefits or fringe benefits. Lesson 2.2

3 Examples of Benefits insurance pensions paid holidays sick leave
vacation time use of a car credit union uniforms parking discounts for purchases recreational facilities child care education or training Lesson 2.2

4 Employee Benefits as a Part of a Job’s Total Value
Benefits can be worth from 15% to 40% of the amount paid in wages. Benefits may be stated in money amounts or as a percent of gross pay. Benefit 1 + Benefit 2 = Total Employee Benefits Benefit Rate × Gross Pay = Total Employee Benefits Lesson 2.2

5 Total Job Benefits When you are considering a job offer, the value of employee benefits should be added to the amount of wages to find the total job benefits. Gross Pay + Employee Benefits = Total Job Benefits Lesson 2.2

6 Net Job Benefits Almost every job has expenses.
Examples of job expenses are union or professional dues, commuting expenses, uniforms, licenses, and tools. To find net job benefits, subtract total job expenses from total job benefits. Total Job Benefits – Job Expenses = Net Job Benefits Lesson 2.2

7 Comparing Net Job Benefits
When you compare jobs you should consider many features about each job, not just the net job benefits offered by each job. Some things to consider How much you like the job Chances for raises and promotions Chances of layoffs Job security Lesson 2.2


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