Business Math

1. Business Math 2.2 Benefits and Job Expenses

2. Start Up • Sally’s uncle asked her to help with a remolding job that will take 10 days to complete. He said he would pay Sally $60 a day or start with $1 the first day and double her pay each day. Which wage do you think will earn Sally the most money? • Math Builder Page 47

3. Total Job Benefits • Employee Benefits – also called fringe benefits are the other things of value an employer gives the employee • These can include: health and accident insurance, life insurance and pension, paid holidays , sick leave and vacation time. Other benefits might be uniforms, gar, credit union, parking, discounts for purchase of merchandise, recreational facility , child care and education or training

4. Continue benefits • Benefits can be worth 15-40% of the amount paid in wages. Benefits may be stated in money or as a percent of gross pay. • Example 1 page 48 • Check for understanding

5. Net Job Benefits • Job expenses – Union dues, professional dues, commuting expense, uniform, licenses and tools. • To find net job benefits subtract job expenses from total job benefits. • Total Job Benefits – Job Expenses = net job benefits • Example 2 and check for understanding

6. Comparing Net Job benefits • When comparing jobs you should consider many features about each job, not just the net benefits offered at each job. Consider whether you like the job, the chance for raises or promotions, the chance of layoffs and job security. • Check for understanding page 50

7. Wrap up • Looking back at start up problem – Sally would receive $600 in the first offer. In the second offer she would receive $512. If the job had been for 11 days she would have made $1024 with the second payment and only $610 for the $10 a day plan. • Workplace Window Page 50