Gross Pay
Gross pay is the total amount of money an employee earns before any deductions, such as taxes, insurance premiums, retirement contributions, or garnishments, are taken out. Gross pay includes wages, salary, bonuses, commissions, overtime, and any other form of compensation an employee receives. It is the starting point for calculating an employee’s net pay, or take-home pay, which is the amount the employee receives after all deductions have been made. Gross pay is typically listed on an employee’s paycheck or pay stub.
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