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 | When job listings post a salary or salary range, that figure refers to gross pay. Gross pay is comprised of employee compensation for work performed in the course of the regular duties of a job or assignment (textbook). So that is what gross pay is | |
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| Alright, then what about take-home pay? | |
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| Take-home pay is also commonly known as net pay, net pay is the amount of earned wages that workers actually take home each pay period. Take home pay accounts for mandatory federal and state deductions, as well as elective deductions pertaining to specific employees, such as employer-managed 401(k) programs or union dues (textbook). So there you go. | |
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| Alright I think I get it now. | |
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| So if you have a gross pay of $400.00 on a bi weekly cycle, are single with 0 dependants and reside in the state of Ohio, do you know what your net pay would be? | |
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| It would be $303.30, due to FUTA, and other witholding associations. The takes taken are Federal, State, Local, School Tax, and Medicare (textbook) | |
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