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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Incentive Pay

Definition

Additional compensation given to reward performance or achievements, often used to motivate employees.

What to consider

  • Understand the performance metrics behind bonus payouts.
  • Keep track of your achievements to support your case.
  • Review how consistently your company awards incentives.

Real world scenarios

  • After exceeding his sales targets for the quarter, Jason received incentive pay, which came as a bonus to reward his hard work.

Related terms

Net Pay
Net Income
Pay Frequency
Salary Slip
Living Wage

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