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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- Teacher NotesSlide-by-slide guidance, printable as one handout
Unit 3: Earning Income
Tax Paperwork & The IRS
Every employed American is responsible for paying employment and income tax. This lesson focuses on how to determine your tax responsibility, paperwork required for employment, and the progressive tax structure of the IRS.
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.
The Gig Economy
Working as an independent contractor can be a risky and rewarding way to make a living. This lesson covers the financial elements of being an independent contractor, including employment taxes, pros and cons, and tax write-offs.
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