A cost and wage premium is an extra amount that can be added to the cost and/or wage for lessons. If your teachers ever need to travel to meet with students, then you might add a premium for students that live over a certain distance from your company.
Enabling Cost & Wage Premiums
You can follow the steps below to enable Cost & Wage Premiums:
Click on "Account & Settings" and then click on "Account Settings".
Scroll down to the "Cost & Wage Settings" section.
Set the "Cost & Wage Premiums" setting to "Enabled".
Submit the form to save your changes.
Adding Cost & Wage Premiums
After you've enabled the "Cost & Wage Premiums" setting, you can add a new cost premium by following these steps:
Click on "Account & Settings" and then click on "Premiums".
Click the "Add Premium" link in the sidebar.
In the "Name" field, enter a name for the premium.
In the "Cost Premium per Lesson" field, enter the amount to add to your students' cost.
If you would like to pay the teacher a higher wage for students that are charged a cost premium, enter the amount in the "Wage Premium per Lesson" field.
Submit the form to save your changes.
Adding a Cost Premium to a Student's Profile
Once you have created a cost premium, you can apply the cost premium to a student's lessons by following the steps below:
Click on "Students" and then click on "Students".
Edit the student's profile by clicking on the "Edit" button.
In the "Billing Details" section, select the cost premium that was created in the "Teacher Wage Premium" field.
Submit the form to save your changes.
Once you've added a cost premium to a student's profile. the cost premium will be added automatically to all of their lessons when they are scheduled or edited.
Wage Premiums
In your "Cost & Wage Premiums" table, there is an option to add a wage premium which increases the teacher's wage if a student is charged a cost premium.
For individual lessons, the wage premium is straight-forward since there is only one student. The wage premium will match the amount listed for whatever cost premium has been set for the student.
However, wage premiums are always "per lesson" and not "per student", so the wage premium for a lesson with multiple students is calculated differently. In this scenario, the wage premium will be the highest wage premium based on the premiums of the students in the lesson.
For example, in a lesson with two students, if one has a wage premium of $5 and the other has a wage premium of $10, the teacher's pay for the lesson will be increased by the wage premium of $10 since it is the highest of the two wage premiums.