Lesson
Benefits & Total Compensation
Summary
Total compensation isn't just wages or salary earned. Explore monetary and non-monetary employee benefits, and the pros and cons of common employee benefits.
Bellringer: Job with Benefits?
- Compare a job with a higher hourly rate and no benefits to a lower hourly rate with benefits
Instruction
- Define total compensation as the "hidden paycheck" — base salary, bonuses, equity, benefits, and perks
- Distinguish tax-exempt benefits from pretax deductions with salary-vs-benefit comparisons
- Cover non-monetary perks like remote work, tuition reimbursement, and PTO
Discussion: Benefits Elimination Bracket
- Run through a benefits elimination bracket to find an employee benefit champion
- Compare health insurance vs. free lunch; 401(k) match vs. unlimited PTO; tuition reimbursement vs. company car; remote work vs. life insurance
Activity: Understanding Job Benefits
- Students read the "Understanding Job Benefits" article individually or in pairs
Wrap-Up & Assessment
- If you earn $40k but put $5k into a 401(k), does the IRS tax you on $40k or $35k?
- Name one tax-exempt benefit
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: Job with Benefits? |
|
| 10 min | Instruction |
|
| 15 min | Discussion: Benefits Elimination Bracket |
|
| 10 min | Activity: Understanding Job Benefits |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
Understanding Job Benefits
Students learn about compensation beyond salary.
Class Presentation
Includes a 23-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
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Income & Retirement
Understanding Your Paycheck
The amount earned at a job isn't the amount available to spend. Learn about gross and net pay and mandatory payroll deductions.
Benefits & Total Compensation
Total compensation isn't just wages or salary earned. Explore monetary and non-monetary employee benefits, and the pros and cons of common employee benefits.
Working in the Gig Economy
Working in the gig economy has perks and hidden costs. Learn key differences between W-2 employment and 1099 non-employee status, including the self-employment tax stack.
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