Executive Pay

interest   rent on properties income annual salary wages remuneration   commission   amount fee bonus fringe benefits/perks generous benefits package

(тут) процентний прибуток; відсоток дохід від нерухомого майна дохід; заробіток річний оклад (службовців) заробітна платня (робітників) винагорода; оплата; компенсація комісійна винагорода, комісійні кількість, загальна сума гонорар; винагорода; плата премія додаткові пільги щедрий; великий; значний пакет пільг

medical insurance share option   contribute to advantageous price golden goodbye / golden handshake / golden parachute

медична страховка опціон на акції (пільга, яку іноді отримують працівники компанії, що надає їм право купувати акції компанії зі знижкою по відношенню до ринкової ціни) робити внесок; сприяти вигідна ціна велика компенсаційна сума грошей та різні привілеї посадовій особі, що іде у відставку; велика одноразова виплата директору, менедже-ру, що йдуть увідставку, або робітнику, якого звільняють

Pay is seen as one of the most important forces in motivating the workforce.

The money a person receives, including salary, dividends, interest and rent on properties is called income. White-collar workers and professionals usually get a salary which is paid monthly, while blue-collar workers receive a weekly payment called wages.

Remuneration is a general term meaning "payment for work". In some jobs (in sales for example), the employee receives a commission, which is a percentage of the amount he or she has sold. A fee is money paid for the professional services of people such as lawyers or consultants.

Benefits add to the value of job. Apart from salary, an executive's compensation package can include bonuses and fringe benefits or perks. Many companies operate abonussystemfor white-collar and blue-collar workers. Bonuses (extra payments) are usually paid against certain work done.

Fringe benefits or perks are extras received by an employee in addition to wages or salary. In managerial position these are usually generous, and are negotiated when a job offer is being made.

A benefits package may include: a company pension scheme, private medical insurance, company car, share options. A company pension scheme is a private pension plan which the employer contributes to. Share options give the employee the chance to buy shares in the company at an advantageous price.

There is also a compensation package for an executive leaving a company. It is also known as a golden goodbye, golden handshake or golden parachute.

1 What is one of the most important forces in motivating the workforce? 2 What is income? 3 What does a white-collar worker receive for his/her work? 4 What does a blue-collar worker receive for his/her work? 5 Where do employees receive a commission? 6 What is a fee paid for? 7 What are fringe benefits? 8 What may a benefits package include? 9 What is a golden handshake? 10 What are bonuses usually paid for?

1 Match words that have a similar meaning:

receive motivate pay income compensation perquisite share generous

earnings obtain stimulate big payment reimbursement perk stock

2 The words in the box frequently occur after "pay". Find combinations that mean:

1) the day when employees receive their wages or salary; 2) an envelope containing money earned by an employee; 3) a salary or wage given in a check; 4) a public telephone that you put money in to use; 5) a list of all the people employed by a company and the amount of money paid to each of them; 6) a cashier; 7) a piece of paper, given to an employee with his or her weekly or monthly wages, that shows the amount of pay given and

any deductions made.

3 Match the words and phrases in the box with the correct definition:   1) a percentage paid on amount of money; 2) money (in the form of wages or a salary or profit) received from work done; 3) payment for services given; 4) a payment made to someone for providing a service or goods. The amount is usually a percentage of the total value of the deal; 5) an amount paid for a professional service or

advice; 6) money or goods received in addition to a salary;7) a right offered to employees, to buy shares in

the company where they work at a cheap price; 8) a compensation package for an executive leaving a company; 9) a sum of money paid to shareholders as their part of the company's profit; 10) a person who provides advice for pay.

4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:

golden goodbye, the benefits, a perk, fee, a commission, remuneration, interest, dividends, salary, payment

1 Will you accept € 100 as... for the work? 2 She is much better off since her... increase. 3 These shares should pay high.... 4 These gas shares earn a lot of.... 5 She receives excellent... for her work. 6 The bank charges... for exchanging foreign currency. 7 How much is your lawyer's...? 8 He was offered a company car as.... 9... we consider most important are non-contributory pensions, company cars and healthcare. 10 A € 750,000... to Mr. Brown, 68, retiring chairman of the tobacco company was pushed through at the company's annual meeting.

5 Fill in the missing prepositions: (to, in (2), with, at (2), of (3), from, for (2), on)

Fringe benefit

Fringe benefit is a reward... an employee's labour which is not based... money, but which takes an alternative form. Increased holiday entitlement, a subsidized canteen, free or cut-price products, or private health care insurance, are examples... such non-financial rewards. It is increasingly recognized that money is only one element that motivates the workforce, so the use... non-monetary incentives is becoming more common,... shop-floor level, trade unions are increasingly including non-financial elements... their negotiations... management.... management level, the "perks"... company cars, sizeable expense accounts... travelling, and other non-salary incentives, are an important element... attracting executives... one post... another.

6 Complete the sentences using these often confused words: salary - income - pay - wage

1) My friend is going to get a... rise next week. 2) That company pays a good... to its workers. 3) Her... increased when she changed jobs and bought stock. 4) Her husband is a lawyer. His... has increased 10 percent this year. 5) The starting... of our new sales manager is € 15 000. 6) Tax is payable on all... over € 2000. 7)... are paid every Friday. 8) His... is about € 150 a week. 9)... is usually paid monthly but... is usually paid weekly. 10) Very few office workers get good....

Дата добавления: 2015-07-11