Basic IncomeBasic Income
BonusBonus
CommissionCommission
Direct DepositDirect Deposit
Earned IncomeEarned Income
Exempt vs. Non-Exempt StatusExempt vs. Non-Exempt Status
Fringe BenefitsFringe Benefits
Gross IncomeGross Income
Gross PayGross Pay
Incentive PayIncentive Pay
Living WageLiving Wage
Merit IncreaseMerit Increase
Net IncomeNet Income
Net PayNet Pay
Pay FrequencyPay Frequency
Pay StubPay Stub
Payroll DeductionPayroll Deduction
Profit SharingProfit Sharing
Salary NegotiationSalary Negotiation
Salary SlipSalary Slip
Side HustleSide Hustle
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Bonus

Definition

Extra money given by an employer as a reward for good performance or as a share of the company’s profits.

What to consider

  • Know the performance criteria tied to bonus payouts at work.
  • Think about using bonus money to pay down debt or boost savings.
  • Be aware of any tax implications associated with extra income.

Real world scenarios

  • After an exceptional year, Natalie received a bonus from her employer, which she used to pay off part of her student loans.

Related terms

Gross Pay
Merit Increase
Living Wage
Direct Deposit
Side Hustle

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