Personal Finance Simulation | Jobs

When students start the simulation, they are all given a household income of $65,000. Every student starts with the same virtual salary in class. However, salaries change when grades are entered into the simulation (addressed below). Every time a grade is entered into the simulation, student salaries will change based on those grades. A passing grade results in a salary increase and a failing grade results in a salary reduction.

Each week in class represents one month in the real world. This means students get paid every Monday and bills are due every Friday.

When students receive their paystub, it will automatically add any in-class job incomes to the paycheck as well as remove any Living Expenses from the checking account. 

Where can students find their Paystubs and W-2s?

1. Students can find their paystubs and W-2s by going to Money Management on the left-hand side of their simulation
2. Select Employment
3. At the top, they can select Pay Stub and then the date of the Pay Stub
4. The W-2s will need to be given out before students can receive them under the W-2s tab. More information on how to do so HERE.

Can students pick up a second job?

Absolutely! There are in-class jobs within the simulation and are great if you need someone to do the record-keeping within the class. Steps to find these on your instructor account:

1. Select Class Culture in the left-hand menu
2. Select HR Center
3. Here you can view the available jobs, edit jobs, approve applicants, and view employees.

How do I add new in-class jobs?

1. Select Class Culture
2. Select HR Center
3. Select Add Job Listing
4. Fill out the necessary information (example below) and then add listing

The classroom jobs in the HR center are additional income. Since it is an additional monthly income that students receive and is not part of their base salary. However, it will show up on their paychecks and taxes will be taken out.

What can I do if I want them to start at different salaries?

In the simulation, it will have them all start at the same base pay. However, there are a couple of things you can do if you want to have them start at different salaries. You can automatically have them sign up for an in-class job or you can provide a recurring bonus. 

Performance Review Salaries

The student's base salary can be affected by the performance review. Depending on the Performance Review type, the students can receive a 1%, 2%, and 3% raise.