When you work for a company, you get a paycheck. Sometimes it’s hourly. Sometimes you get a salary. Sometimes you do contract work. But there is some regular wage that you get for doing a job. Beyond this though, there is a realm of financial compensation in the business world that deals with extraneous situations.
There are several examples to get you thinking of when money changes hands outside of typical wage or salary relationships. For example, you may make money through stock dividends. Or, in the event of an injury, you can get cash from your company through Workers Comp. There are employee bonuses that come across in various financial scenarios. And then every once in a while you hear about golden parachutes.
If your company is publicly traded and part of the perks of working for a particular corporation is the idea that you own stock in the business, then you can make money from stock dividends. It’s difficult to gauge how common this is based on industry, profession, or experience level, but you’ll know that it is something that people aim for at least on a theoretical level. When their stock dividends are paying off, that means that they are making free money for having the right kind of investments for being in the right place at the right time.
Unfortunately, there are lots of situations where workers are injured on the job. In that instance, you can get settlements for workers’ comp. Usually, you have a lawyer figure out how to settle this amount between you and your company, and that way everything is handled in a legally efficient manner. It’s not necessarily earning money when you get workers’ comp, but at the same time, it’s definitely income that you can use to maintain your standard of living.
Depending on where your company is financially, they may give out employee bonuses regularly. You’ll often hear about these bonuses for managers that have done an outstanding job on a project, but sometimes a company will share its profits at the end of the fiscal year with all of its workers as well. It’s never good to depend on these bonuses as a worker, but it is something that you can appreciate when it does happen.
Among the business elite, you’ll often hear references to golden parachutes. Because of how CEOs, corporations, and stockholders relate to each other, there are ways that people can retire at the end of the career without ever having to worry about going hungry. Golden parachutes are often part of contract settlements so that a new set of managers can come into company ownership while still compensating old managers for their work on the way out.
Originally posted on July 19, 2018 @ 5:56 am