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Earnings, rewards and benefits

earnings 44 terms 28 questions TOEIC Part 5, Part 6, Part 7

Pay has its own vocabulary, and the distinctions matter: a wage is usually weekly, a salary monthly; a raise is not a bonus; overtime, commission, severance pay and fringe benefits all appear in TOEIC job adverts and HR emails. Part 7 questions about a job offer very often hinge on one of these words rather than on the figures.

Your task

Each sentence defines a word connected with pay, rewards or benefits, and part of that word is already given. Complete it.

Target vocabulary

allowance annual salary basic pay bonus commission commensurate with compensation deduction double time earnings expenditure fringe benefits golden handshake gross salary hourly rate income increment index-linked living wage lump sum maximum minimum wage net pay overtime package payroll payslip pension performance-related pay perks piece rate raise rate of pay remuneration reward royalties salary satisfaction severance pay sick pay take-home pay wage weighting withholding tax

Practice

Word bank
-an -ance -ans -ary -ated -ation -ay -ble -count -ction -dancy -den -dex -diture -ement -ensurate -eration -et -faction -fit -ge -hting -imum -ise -ission -kage -ked -lement -me -nus -ock -ome -ormance -oss -ring -roll -shake -sion -slip -te -time -tions -tive -ve
1 A wage is money that is normally paid to an employee on a weekly basis, and a sal ____ is money that is usually paid to an employee on a monthly basis.
3 When we work for more than the normal working time, we say that we work (and therefore earn) over ____.
4 An automatic and regular increase in pay is called an incr ____.
5 Money that is removed from our earnings to pay for tax, national insurance, etc., is called a dedu ____.
6 The min ____ wa ____ is the lowest hourly wage which a company can legally pay its employees.
7 Time for which work is paid at twice the normal rate (for example, on national holidays) is called dou ____ ti ____.
8 A pen ____ pl ____ helps people to save money for when they retire from work.
9 When you want more money for the work you do, you might ask your boss for a ra _____.
10 If an employee needs some of his / her wages paid before the usual pay day, he / she might ask for an adv ____.
11 A pay ____ shows an employee how much pay he / she has received, and how much has been removed for tax, insurance, etc.
12 An extra payment made in addition to a normal payment (usually received by sales people for selling more than their quota) is called a bo ____.
13 A pay ____ is the list a company keeps that shows all the people employed and paid by that company.
14 A rewards pac ____ is the money and other benefits offered with a job.
15 A weig ____ is an additional amount of money paid to an employee to compensate him / her for living in an expensive area.
16 By law, American companies have to give their employees the right to take paid vacations: this is known as lea ____ entit ____.
18 For some people, the money that they earn for doing a job is less important than job satis ____ (the pleasure they get from doing their job).
19 A sales person usually earns a percentage of the sales value of the product or service he / she sells: this is called a comm ____ .
20 Some companies offer their employees st ____ op ____, which means that the employees can buy stocks at a price lower than the normal price.
21 Some companies have incen ____ pl ____, where they offer their employees extra rewards and benefits for good attendance, increased productivity, etc.
22 The amount of money an employee receives each hour, day, week, etc., is known as an hourly / daily / weekly ra ____.
23 If an employee loses his / her job because the company doesn't need or can't afford to keep him / her, they might receive redun ____ p ____.
24 Some companies offer their employees a dis ____ on the product and services they sell, which means that the employee can buy them for less than the usual price.
25 If an employee takes a job in another town or city which is a long way from his / her original home and place of work, he / she might be offered a reloc ____ allow ____.
26 Some companies have a policy of pro ____ sha ____, where some or all of the money that they make is given to their employees.
29 When the money that an employee receives rises automatically by the percentage increase in the cost of living, we say that it is in ____ -lin ____.
30 If the amount of money an employee receives depends on how well he / she does his / her job, we say that it is perf ____ -rel ____.
31 When the money that an employee earns is based on age, experience, qualifications, position in the company, etc., we say that it is comm ____.
32 When an employee leaves his / her job after a long period with the company, he / she might be offered a large amount of money known as a gol ____ hand ____.