Salaries - Careers

Payday! Where'd My Money Go?

Paycheck smaller than you thought? There's a big difference between gross income and your take home pay. Gross income is the total amount of money earned. It is your hourly rate X the number of hours worked, or if you're a salaried employee it is your pay rate for that particular pay period. Net income is your "take home pay." It is the amount you receive after deductions have been subtracted from your gross pay. These deductions include things such as income tax, Social Security tax, Medicare tax, state or local taxes, and possibly, the cost of health insurance or other employer-sponsored plans.

Sample Paycheck Stub
The pay stub (earnings statement) attached to your check includes your identification information and the pay period (dates you worked for this check). It also lists your gross income, all your deductions, and your net income (the amount you get to keep). Scroll over the different areas for explanations.

DePaul University
Chicago, IL 60614
Pay Group: DPUDEPAUL Business Unit: DPU
Pay Begin Date: 7/01/2006 Advice #: 0510902
Pay end Date: 7/15/2006 Advce Date: 7/12/2006

  Employee ID:
Department:
TAX DATA Federal IL State
Marital Status Singles Single
Allowances: 0 1
Addl. Pct.:    
Addl. Amt.: 15.00  
  HOURS AND EARNINGS  
  -----Current----- -----YTD-----
Description Earnings Earnings
Regular 2,062.53 4,125.06
  TAXES  
     
Description Current YTD
Fed Withholding 376.73 753.46
Fed MED/EE 28.94 57.87
Fed OASDI/EE 123.74 247.46
IL Withholding 87.96 175.92
  BEFORE-TAX DEDUCTIONS  
Description Current YTD
Smith HMO 77.50 151.00
Dobbs Dental 14.00 28.00
Long Term Disability 4.75 9.50
     
     
Total 94.25 188.50
  AFTER_TAX DEDUCTIONS  
Description Current YTD
     
     
     
     
     
Total:    
  EMPLOYER PAID BENEFITS  
Description Current YTD
Smith HMO 290.71 581.42
Dobbs Dental 27.39 17.92
     
     
     
*Taxable    
  TOTAL GROSS FED TAXABLE GROSS FICA GROSS TOTAL TAXES TOTAL DEDUCTIONS NET PAY
Current: 2,062.53 1,995.67 1,995.67 617.37 124.95 1,320.21
YTD: 4,125.06 3,991.34 3,991.34 1,234.71 249.90 2,640.45
 
NET PAY DISTRIBUTION  
Advice #: 0510902 1,320.21
  1,320.21

DePaul Department
Chicago, IL 60614 		Date
07/12/2006		 Advice No:
0510902

Deposit Amount: $1,320.21
To the Account(s) of DePaul Employee
   
   
DIRECT DEPOSIT DISTRIBUTION    
Account Type Account Number Deposit Amount
Savings 01092399 500.00
Checking 95209013 820.21
     
     
     
*Taxable    
NON-NEGOTIABLE