pay strip terminology

nebt

Senior Member
Czech, CZ
My question:
1. benefit - premium - bonus
- any difference or interchangeable?
- what kind of bonuses ar the most common (need just some phrases)

2. sick pay - if I understand well, sick pay should be the money got by en employee from the National or health Insurance company in case of being ill.
- as I know about the slight difference between BE and AE concerning the word "sick",
a) I´d like to know whether there is another term for the sick pay in BE
b) Just a legal intermezzo: If I am not mistaken the sick pay comes from your health insurance (or National Insurance?) in the UK, which is compulsory to pay. Whereas there is no must in paying the health insurance from your wage or salary in the US and according to it, you also may or may not get the insurance coverage. Correct or not.

Thanks to anyone who is not bothered by the long thread.
 
  • ICanGuessTheRest

    Member
    Southeastern United States
    A benefit is part of your regular earnings. You get it when you do your normal job. Benefits can be: life insurance, health insurance, retirement savings plan, housing, housing suppliments, child care, educational money, gym, car, clothing or clothing allowance, etc. Depending on current laws, the value of these items may or may not be taxable.

    Premiums (in the US) are increases in pay for working beyond the regular 40 hour week for wage (not salaried) employees. Hours worked past 40 hours are payed at 1.5 times normal pay or even 2.0 times normal pay. Work performed outside of regular busniness hours (8am to 5pm) may get extra (premium) pay also. This is called shift premium. Work done on the week-end may also get premium pay.

    A bonus is usually payed for unusually meritorius work. Finishing a contract completely yet early so that the company gets extra pay may also allow the company to share the extra pay with the employees. Awards from professional societies that boost the esteem of the company may also earn one a bonus. Anything one does beyond one's normal job that increases the company's profits or chances for profit might earn a bonus. Finding ways to save on operating expenses, to improve efficiency, or to decrease accidents can earn bonuses too.
     

    nebt

    Senior Member
    Czech, CZ
    Thanks a lot for the comprehensive answer. Just to check:
    1. overtime pay = can be also called "overtime premium"
    2. The workers commonly professing the shifted work are always granted with a "shift premium" - right?
     

    Kelly B

    Senior Member
    USA English
    Sick pay (US): money paid for time off due to illness.
    Workers on later shifts often, but not always, receive a shift premium. For example, if the first shift is 7am-3pm, and second shift is 3pm-11pm, second shift may not get a premium because those are still desirable hours for two-income families with children. A third shift 11pm-7am is very likely to have premium pay.
     
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