Understanding Total Compensation

What is total compensation?

• The amount of money you earn from your hourly wage or salary

• The complete picture of how much the company values its employees

• The cost of paid lunches and breaks

• The value of benefits and additional perks offered by the company

What does total compensation include?

• Base salary and bonuses

• Benefits and additional perks

• Tuition assistance

• All of the above

What are some examples of benefits included in total compensation?

• Dental and eye care insurance

• On-site daycare

• Pet insurance

• All of the above

What are legally required or mandated benefits?

• Contributions for social security and medicare

• Paid holidays and vacation time

• Retirement plan matching

• Health plan subsidies

What is the maximum wage base for the social security tax?

• There is no maximum wage base

• It is set annually

• It depends on the employer

• It is shared equally by the employer and employee

Who is the sole contributor to the workers compensation program?

• The employee

• The employer

• The federal government

• The state government

What is the purpose of unemployment insurance?

• To provide medical treatment for industrial accidents

• To reimburse wage loss

• To provide benefits to individuals unable to find suitable work

• To offer pet insurance

How can you determine what the company pays on your behalf for benefits?

• It is shared as a percentage on the pay stub

• It is not disclosed by the company

• It is equal to your hourly wage

• It is included in the base salary

What percentage of total employer cost of employee compensation is spent on benefits?

• 7.6%

• 23.7%

• 30.6%

• 50%

Why is it important to understand your hidden paycheck?

• To know how much money you earn

• To see the whole value your company provides to you

• To compare apples to apples

• To find out the cost of paid lunches