1.1 Salaries: making money takes time

1. 1.1 Salaries: making money takes time Objectives: In this lesson we will… Compute the earnings from a part time job. Compare an hourly wage with a weekly or monthly salary.

2. Earning Income: Income- the money received from investments or from a person’s activities at work or in his business. Wage vs. Salary Wage- an hourly or daily rate of pay Salary- is a weekly, monthly, or yearly rate of pay Overtime- the hours worked past the full-time requirements(40 hrs. ). Usually, 1.5 the hourly rate.

3. Delivering pizzas Starbucks Retail Clothing Store at the mall Alex’s Choices for a job Mowing lawns Babysitting McDonald’s

4. Calculate how much money Alex would make weekly in each job. Let h = the number of hours worked in one week r = the rate in which one gets paid t = the tips earned during a period of time Ex: Working at Dairy Queen. Mr. Torres use to work at DQ for an hourly rate of $6.25. He use to work 12 hours per week. Without any tips, how much money did Mr. Torres make per week? The equation is Earnings= r x h + t, so

5. Here is the information on these jobs: • Delivering pizzas – • Please tip the driver Some people are not aware of this. I didn't know for a long time. You're supposed to tip the pizza delivery driver like you tip the waiter. They rely on tips and use their own car. This site will explore your questions about tipping and how you can speed up the delivery time. Your tips are greatly appreciated. It's what keeps drivers moving. • Do they earn the tip? Absolutely. Drivers perform a service by bringing dinner to your door. They take on financial costs and difficulties, more than most people realize. Pizza delivery is considered a hazardous job by the US government. They are third most likely to be murdered on the job, right after police officer and taxi driver. Minimum wage: $ 8.00 Alex can work an average of 10 hrs. per week delivering pizza. If he drives an average of 10 miles per week, and makes on an average of $70 per week on tips, what will his total income be after expenses (gas)? Should delivery people get paid extra for gas?

6. Calculate the weekly income Retail clothing store at the mall. Minimum wage on an average of 10 hrs per week. Will probably have to work on Saturday. Babysitting – Maybe $10 to $12 dollars an hour. Find a neighbor who will need two hours of babysitting after school Monday through Friday. McDonald’s – 12 hrs. per week at minimum wage Mowing lawns – at $15 per lawn. Say you do 2 houses on Sundays. Starbucks – 15 hrs. per week at minimum wage

7. Income vs. Popularity

8. Ask Yourself • If a person is paid by the hour and works more than the required number of hours in a week, the employee is generally paid more for the extra hours. What are the extra hours called? • If an employee is paid a monthly salary, will the employee be paid for working on the weekend? • In which kinds of jobs do workers earn hourly or daily wages?

9. Try Your Skills Write an equation of the form E = rh + t where r represents the regular hourly rate, h represents the number of hours worked, and t represents any tip or bonus. Then find the weekly earnings for each of the following “employees.” • I am the tape recorder in the French language lab. I make $11.50 per hour, and I worked 29.5 hours this week. I received a bonus of $3.50 when I taught the students how to say “ I love you“ in French. • I am the button that turns on the light when you open the refrigerator door. My door was open 22.5 hours this week. My salary is $10.00 per hour, and I did not receive a bonus because I was on when my owner knocked over a bottle of juice onto his toe. • Assume that the employees in Exercise 1 and 2 received overtime pay of 1.5 times their regular rate for all hours they worked over 20. Find their weekly earnings with overtime.