Definition, Meaning & Synonyms
take-home-pay
noun
ˈteɪkˈhoʊm peɪ
Definition
The amount of money an employee receives after all deductions, such as taxes and retirement contributions, have been taken from their gross income.
Examples
- After all deductions, her take-home pay was significantly lower than she expected.
- It’s important to calculate your take-home pay when budgeting for expenses.
- He was surprised to find that his take-home pay did not match his gross salary.
Meaning
Take-home pay refers to the net income that an individual earns and can spend, reflecting the actual amount received in hand after all deductions.
Synonyms
- net income
- disposable income
- net salary
