goals business math© thomson/south-westernlesson 2.2slide 1 2.2benefits and job expenses find total...
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GOALS
Lesson 2.2 Slide 1BUSINESS MATH © Thomson/South-Western
2.2 Benefits and Job Expenses
Find total job benefits Find net job benefits Compare the net job benefits of jobs
Lesson 2.2 Slide 2BUSINESS MATH © Thomson/South-Western
Total Job Benefits
In addition to wages, many employers provide other things of value called employee benefits or fringe benefits.
Lesson 2.2 Slide 3BUSINESS MATH © Thomson/South-Western
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 Slide 4BUSINESS MATH © Thomson/South-Western
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 Slide 5BUSINESS MATH © Thomson/South-Western
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 Slide 6BUSINESS MATH © Thomson/South-Western
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 Slide 7BUSINESS MATH © Thomson/South-Western
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