It’s that time of year where graduates discover all the things they didn’t learn in college. If you’re just entering the workforce, familiarize yourself with these terms, helpfully provided by Savvy Sugar:
Many graduates are about to enter the workforce for the first time. It can be a happy and confusing experience. A steep learning slope lies ahead for job newbies, and one of things they’ll need to get a hang of is the professional terms people use. Here’s a basic guide that will help you feel less overwhelmed with all the corporate lingo.
PTO: Paid time off is the amount of hours allotted to an employee for time off work with pay. It’s common for PTO days to include sick days as well, but there are some companies that separate both.
401(k): A 401(k) is a free retirement savings plan sponsored by employers. Money is taken from your paycheck before taxes are deducted so you will be investing what’s called pretax money in the retirement plan. Occasionally, employers “match” your contribution, which means they will also add money to your retirement account. It’s best to start contributing as early as you can. Read more about retirement plans to figure out a good saving strategy.
Learn the rest of the work terms you need to know at Savvy Sugar.