Preparation For Working Life Key Terms

Net Pay- After deductions (national insurance, etc..).

Gross pay- Before dedcutions.

DRABC- Danger Response Airways Breathing Circulation

Wage- Money recieved per month.

Salary- Money recieved per year.

Piecework- Work paid for according to the quantity produced.

Superannuation- An old-age pension: a monthly payment made to someone who is retired from work.

PAYE- Pay As You Earn

Fixed-term Contract- A contract which is valid only for a pre-arranged time.

Minimum Wage- The minimum wage you can recieve for work, based on athe age of the worker.

Redundancy- When an employer fires you, normally with redundancy pay.

Flexi-time- Working your hours to suit you, working enough hours in the week to take Friday afternoon off

Full-time- Work every day, normally 9 until 5

Self-employed- Managing your own company.

Freelance- Employed while there is the work but employer does not pay taxes of National Insurance contributions - the employee has to.

CAD- Computer Aided Design.

Process of getting a job- Job advert --> Send for application form --> Complete application form --> Interview --> Acceptance letter --> Start work

P45- From your employer when you stop working for them, it's a record of your pay and the tax that's been deducted from it.

P60- Summary of your pay and the tax that's been deducted from it in the tax year.

Tax Code- It describes to employers how much tax to deduct from an employee.