Compensation Beyond a Base Wage: Bonuses and Other Payouts
When you’re injured in an accident, the physical pain and emotional distress experienced can be overwhelming. And beyond those stresses, the financial strain can also add to the burden, especially if you’re unable to work during your recovery.
Lost income is a critical aspect of personal injury claims, and while many people are familiar with recovering compensation for base wages, there are often additional sources of lost income that can be claimed. Talk to a Nashville personal injury lawyer about how to secure compensation for all of your losses.
Documents Needed to Prove Base Wage in an Injury Claim
A base wage refers to the fixed, regular amount of money an employee earns for their work, typically paid hourly, weekly, or monthly. It’s the salary or hourly rate an employee receives before any bonuses, commissions, or other benefits are added. Base wages are straightforward and relatively easy to prove in an injury claim, as they are part of your standard employment contract.
For example, if you’re an hourly worker earning $20 per hour, your base wage is calculated by multiplying that rate by the number of hours you work. To prove your base wage in an injury claim, you’ll need to provide documentation that shows your regular earnings. Some of the documents that can help substantiate your claim include pay stubs, tax returns, employment agreements, and bank statements.
Assessing Additional Earnings
In many cases, workers earn more than just their base wages. Additional forms of compensation are common and should also be factored into your injury claim. These additional earnings are part of determining the full amount of compensation you should receive.
- Many employees receive bonuses as part of their compensation package. These could be annual bonuses, performance-based bonuses, or holiday bonuses.
- Profit sharing. Some companies offer profit-sharing plans that provide employees with a share of the company’s profits.
- Overtime pay. For non-exempt employees, overtime pay can be an important part of their total compensation. Employees who typically work more than 40 hours a week and earn overtime wages often rely on those funds, and the loss of those extra hours due to injury can add up quickly.
- Employment perks. In some cases, employees may receive non-monetary compensation that has a value, such as stock options, travel allowances, or performance awards.
- If you work in a sales role or another commission-based position, your earnings are often directly tied to your performance.
To secure compensation for lost income beyond your base wage, it’s essential to gather documentation proving that these earnings were a regular part of your compensation before the injury. A skilled Nashville personal injury lawyer can help you assess the full range of income losses and ensure that all of these are included in your claim.
Where were you working before sustaining an accident injury? With legal support from the injury lawyers at Calhoun Law, PLC, you can secure the funds necessary to cover medical bills, lost wages, and other expenses related to your injury. Contact us today to schedule a confidential consultation.
