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Jobs and Working Life - Compensation

Study terms related to salaries, wages, bonuses, commissions, insurance benefits, severance pay, retirement plans, pensions, and pay equality.

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Words Related to Jobs and Working Life
salary
salary
[Sustantivo]

an amount of money we receive for doing our job, usually monthly

salario

salario

Ex: Her new job offers a higher salary. 

Su nuevo trabajo ofrece un salario más alto.

wage
wage
[Sustantivo]

money that a person earns, daily or weekly, in exchange for their work

salario

salario

Ex: The union negotiated higher wages for its members in the latest contract agreement. 

El sindicato negoció salarios más altos para sus miembros en el último acuerdo contractual.

pension
pension
[Sustantivo]

a regular payment made to a retired person by the government or a former employer

pensión

pensión

Ex: After working for the company for over thirty years, he was able to retire with a comfortable pension. 

Después de trabajar para la empresa durante más de treinta años, pudo jubilarse con una pensión cómoda.

raise
raise
[Sustantivo]

an amount of money added to our regular payment for the job we do

aumento

aumento

Ex: She decided to switch jobs after being denied a raise. 

Decidió cambiar de trabajo después de que le negaran un aumento.

bonus
bonus
[Sustantivo]

the extra money that we get, besides our salary, as a reward

plus

plus

Ex: The CEO handed out bonuses to recognize excellent performance. 

El CEO repartió bonos para reconocer un excelente desempeño.

unpaid
unpaid
[Adjetivo]

not yet given the money that was promised in exchange for something

no pagado, impago

no pagado, impago

Ex: He volunteered for an unpaid position at the local charity to gain experience in nonprofit work. 

Se ofreció como voluntario para un puesto no remunerado en la caridad local para ganar experiencia en el trabajo sin fines de lucro.

commission
commission
[Sustantivo]

a sum of money paid to someone based on the value or quantity of goods they sell

comisión

comisión

Ex: His salary is low, but he gets a high commission. 

Su salario es bajo, pero recibe una comisión alta.

hazard pay
hazard pay
[Sustantivo]

additional compensation for work involving physical danger or health risks

Ex: She qualified for hazard pay during the pandemic for working in the ICU. 
living wage
living wage
[Sustantivo]

the minimum income necessary for a worker to meet basic needs without relying on public assistance or private charities

salario digno, salario vital

salario digno, salario vital

minimum wage
minimum wage
[Sustantivo]

the lowest level of salary, set by the law

salario mínimo, sueldo mínimo

salario mínimo, sueldo mínimo

Ex: He argued that the minimum wage should be adjusted for inflation. 

Él argumentó que el salario mínimo debería ajustarse por inflación.

pay gap
pay gap
[Sustantivo]

the difference between the payment received by two different groups of people

diferencia salarial

diferencia salarial

Ex: The company voluntarily disclosed its internal pay gap data. 
wage gap
wage gap
[Sustantivo]

the disparity in earnings between two distinct groups of workers

Ex: She advocates for policies to close the racial wage gap. 
health insurance
health insurance
[Sustantivo]

a financial arrangement that provides coverage for medical expenses, offering individuals or groups protection against the high costs of healthcare services and treatments

seguro de salud, aseguramiento médico

seguro de salud, aseguramiento médico

Ex: Employers often offer health insurance benefits to their employees as part of the overall compensation package. 

Los empleadores a menudo ofrecen beneficios de seguro médico a sus empleados como parte del paquete de compensación general.

medical insurance
medical insurance
[Sustantivo]

a policy that covers the cost of medical treatment and healthcare services

Ex: He had to pay out of pocket because his medical insurance didn't cover the procedure. 
disability insurance

insurance that provides income replacement if the policyholder becomes unable to work due to illness or injury

Ex: He filed a claim with his disability insurance after his back injury. 
unemployment insurance

a government program that provides temporary financial assistance to eligible workers who have lost their jobs

Ex: He received unemployment insurance while searching for a new job. 
retirement plan
retirement plan
[Sustantivo]

a financial arrangement designed to provide income for an individual after they stop working

Ex: He reviewed his retirement plan to ensure he was on track for his goals. 
retirement fund
retirement fund
[Sustantivo]

a pool of money accumulated for use after retirement, often through regular contributions and investments

Ex: He withdrew from his retirement fund to cover unexpected medical expenses. 
pension plan
pension plan
[Sustantivo]

a retirement savings plan in which an employer or organization contributes money on behalf of its employees, to be used to provide income to those employees during their retirement years

plan de pensiones, régimen de jubilación

plan de pensiones, régimen de jubilación

Ex: Without a solid pension plan, retirement can be financially challenging. 

Sin un plan de pensiones sólido, la jubilación puede ser financieramente desafiante.

annuity
annuity
[Sustantivo]

a fixed stream of payments made at regular intervals, typically derived from a capital investment or insurance contract

anualidad

anualidad

Ex: His pension includes an annuity that pays out for life. 

Su pensión incluye una anualidad que se paga de por vida.

severance pay
severance pay
[Sustantivo]

compensation paid by an employer to an employee upon termination of employment

Ex: He negotiated a higher severance pay as part of his exit agreement. 
early retirement
early retirement
[Sustantivo]

the act of leaving a job or career permanently before the typical retirement age

jubilación anticipada, prejubilación

jubilación anticipada, prejubilación

Ex: The firm announced a voluntary early retirement scheme for senior employees. 

La empresa anunció un esquema de jubilación anticipada voluntaria para empleados senior.

pensionable age
pensionable age
[Sustantivo]

the age at which a person becomes eligible to receive a state or company pension

Ex: He is still working even though he is above the pensionable age. 
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