What is the term for the amount of pay earned before any deductions are taken out?

The term that describes the amount of pay earned before any deductions are taken out is gross income. Gross income includes all earnings from wages, salaries, bonuses, and any other compensation received, representing the total income before taxes and other deductions such as retirement contributions or health insurance premiums are subtracted. Understanding gross income is crucial because it serves as the basis for calculating taxable income and determining eligibility for loans, calculating budgets, and planning for expenses. This concept is a key component in personal finance and helps individuals better understand their overall financial situation.