Income from Jobs
Ways to Earn Income
The most common way of making income is from a job. The kind of job you can get and the income you make is based on what you know and what you are good at. Depending on the job you work, there are different ways to be paid.
- An hourly wage means you get paid a certain amount of money for each hour you work.
- A salary means you get paid the same amount for each pay period. It doesn’t change no matter how many hours you work. A pay period could be each week, every two weeks, or monthly.
- Some people get part of their pay in tips. A tip is an extra amount a customer gives because you do a good job. This is on top of your salary or hourly wage. Examples of people who make tips are a server in a restaurant or a hairstylist.
- A commission is when you get paid for selling something. It is usually a specific part of the price it is sold. Examples of people who make commissions are realtors, people who sell houses, and car salespeople.
When you get paid for these jobs, you will receive your money in a paycheck. This check might be given to you but it also can be set up to be a direct deposit into your bank account. You can work with your employer to set this up.
Tool: Paycheck Calculator
Use these online tools to calculate your paycheck as an hourly worker or a salaried worker.
Other Kinds of Jobs
Not all jobs are the same. Seasonal and gig jobs are two other kinds of jobs. These jobs are usually part-time and don’t offer any benefits.
Seasonal Work
- Some businesses will hire people to work for a certain amount of time. This is often called seasonal work.
- Some examples of seasonal work include being hired to work three months during the holiday season or being hired to work at an amusement park for the summer.
Gig Work
- Other jobs might pay you only when you work. These jobs often have flexible hours. That means the hours you work can change when you want them to.
- Some examples of these jobs are driving for Uber or Lyft, Doordash, Upwork, and Fiverr.
Owning a Business
Some people work and earn income by owning their own business. When you own a business, you are responsible for all the things that are needed to run your business. Money that you need to spend for your business is called expenses. Expenses come out of any money you take in.
An example of a business is running a lawn service. You would pay for your mower, weed eater, and other tools. You would also buy gas and other supplies.
Tool: Tools to Help Find a Job
Ohio has a lot of tools online to help you find a job or start your career. Check out these links to learn more!
Interested in continuing your education to help you get a job or to help your career? Follow this link to learn if you are eligible for financial assistance to help pay for school.
Activity: Identify and Understand Your Paycheck
Use this activity to walk through what is in your paycheck. You can print the activity or look at it online and write your answers on your own.
Remember, you might get your paycheck through a direct deposit to your bank account. If you do, it might look different than it does in the activity. You can work with your employer to look at your paycheck and understand all of the parts of it.
If you are interested in learning more about jobs and how to get a job, you can look at the Employment topic on this website.