Explanation of Key Employment Terms

Here is a list of employment-related terms and their explanations, in case there are students who do not know the meanings of these words. If you are unsure about the meanings of any other employment-related words, or you feel some others should be added to this list, please contact James McGlone here or by sending an email to [mailto:J.McGlone2@wlv.ac.uk J.McGlone2@wlv.ac.uk].

Employment

 * Per annum: The total amount paid to you over the course of a year before tax
 * Pro rata: The annual salary you would receive if you were working full-time
 * National minimum wage: The minimum hourly rate that an employer can legally pay you


 * The minimum wage is £4.77 per hour for those aged 18-21
 * The minimum wage is £5.73 per hour for those aged 22 and over
 * Gross pay: The total payment amount before tax, National Insurance and other deductions
 * Net pay: The actual amount paid to you after deductions such as tax and National Insurance

Contract

 * Permanent: This is a contract with no set expiry date
 * Temporary: This is a casual contract for a short period of time. For example, this could be a contract to cover sick leave, maternity leave, etc
 * Fixed term: This is a contract with a pre-set expiry date that will be agreed before you start working