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23 Dec 2019, 17:01
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I took off 5 weeks of unpaid leave for medical reasons this year. Do I put my annual salary on my app as if I didn’t lose 5 weeks of money, or do I need to subtract? If I subtract those 5 weeks of pay, it looks like I had a salary decrease from my previous job, which isn't actually true since my annual salary is indeed more. Then that brings me to my bonus. My bonus is 10% of my annual salary, but given I took the 5 weeks off, it will be 10% of what I actually earned not my salary on paper. Do I disclose my bonus as if I didn't take those 5 weeks off?
When they do background checks, do they pull my taxes to confirm I made that salary? Monthly I made that salary (annual/12), but I just didn’t work for 5 weeks.
Also do I need to disclose medical leave in my apps? Will they have any way of finding out? I'd really rather not since it was while I was applying.
Finally, if my put my salary on paper rather than actually earned does my FAFSA have to match? Thanks in advance!
When they do background checks, do they pull my taxes to confirm I made that salary? Monthly I made that salary (annual/12), but I just didn’t work for 5 weeks.
Also do I need to disclose medical leave in my apps? Will they have any way of finding out? I'd really rather not since it was while I was applying.
Finally, if my put my salary on paper rather than actually earned does my FAFSA have to match? Thanks in advance!
24 Dec 2019, 21:16
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Hi. Welcome to GMAT Club. I have moved your post to a better forum.
There are a few aspects here:
1. Salary vs. Income. I feel your salary you report on the application is your nominal salary, not your actual salary. The actual salary may differ due to a number of aspects (up or down). My paycheck for example at the top has my nominal salary as my pay level and then it has my info for the past 2 weeks with YTD totals. Not sure if yours the same but I think it is OK to report your nominal salary that your company promised you.
2. For your FAFSA, I believe you have to report your income, which is actual amount. However, I never actually filled out a FAFSA application
Good Luck!
BB.
There are a few aspects here:
1. Salary vs. Income. I feel your salary you report on the application is your nominal salary, not your actual salary. The actual salary may differ due to a number of aspects (up or down). My paycheck for example at the top has my nominal salary as my pay level and then it has my info for the past 2 weeks with YTD totals. Not sure if yours the same but I think it is OK to report your nominal salary that your company promised you.
2. For your FAFSA, I believe you have to report your income, which is actual amount. However, I never actually filled out a FAFSA application
Good Luck!
BB.
24 Dec 2019, 23:23
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Thank you so much Bb! This makes so much sense!
In terms of my bonus, they told me my bonus amount as 10% of my nominal salary. In reality, it will be less because it's off actual earned income. Wharton asks if my bonus is projected or actual.... how do I respond to that given this scenario? I still want to put the 10% so it's in line with nominal, but not sure how much this matters / if it may be a red flag to background checkers.
In terms of my bonus, they told me my bonus amount as 10% of my nominal salary. In reality, it will be less because it's off actual earned income. Wharton asks if my bonus is projected or actual.... how do I respond to that given this scenario? I still want to put the 10% so it's in line with nominal, but not sure how much this matters / if it may be a red flag to background checkers.
