salary

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Salary

Regular wages and benefits an employee receives from an employer.

Salary

A regular compensation that an employee receives for working at a company. A salary is set by agreement between the employee and the employer and is not dependent on the number of hours worked. That is, the employee does not make more for working more than 40 hours per week and does not make less for working less than that.

salary

a payment made to employees for the use of their labour. Unlike WAGES, salaries are not strictly related to the actual number of hours worked (though the CONTRACT OF EMPLOYMENT will usually stipulate the required working hours each week). Instead salaries are expressed in an annual sum, a portion of which is paid to the employee each month. An employee's salary is generally a function of the individual's age and experience, and the level of the job in the organization. Increasingly, an element of the employee's salary is based on some measure of individual performance. See INCREMENTAL PAY SCALE, PERFORMANCE APPRAISAL, MERIT PAY.

salary

a form of PAY made to employees of an organization. A salary is similar to a WAGE payment in that it is paid for the use of LABOUR as a factor of production. In economic terms, a salary payment differs from a wage payment in two ways:
  1. it is not strictly related to the actual number of hours worked by the employee, whereas wage earners are usually paid on an hourly basis;
  2. salaries are usually paid monthly, whereas wages are paid weekly
References in periodicals archive ?
11, with gross pay of $176,830, including $70,625 in paid detail wages and $24,368 in overtime.
This 3-ring binder provides guidelines for efficient processing of 2005 form W-2, managing payroll and HR data, withholding taxes and non-tax deductions from gross pay, hiring workers as non-employees, and complying with wage-hour laws.
Fifteen of the 17 firefighters earned more in overtime pay than their base salaries, and two made more than $175,000 in OT that bumped their gross pay to more than $268,000 - about $5,000 more than their boss, Chief William Bamattre.
Firefighters contribute the very high rate of 11% of gross pay and pension benefits reflect those high contributions.
That is 145 per cent of the average earnings of people who live in Moray, the lowest paid area, where full-time weekly gross pay is just pounds 390.
Since they married 11 years ago, Aaron, 39, has faithfully put away at least 10% of his gross pay in an employer-sponsored retirement account, and Melanie, 34, has managed to save 11% of her gross salary when working part time.
The resources section offers access to calculators that can help determine net and gross pay or the future value of 401 (k) contributions.
The value of the voucher is deducted from their gross pay each month, after tax, but before National Insurance.
Under the proposed legislation, employees are to set aside 1% of their gross pay as of 2002, with that figure to increase in steps of 1% every two years until it reaches 4% by 2008.
Medical management - The draft would require that the employer replace 100% of wages for up to 6 months if a worker is unable to work or only can perform restricted duty (state workers' compensation laws typically replace 67% of gross pay, up to a maximum that is set at the statewide average weekly wage).
Take tax withholding, whereby employers deduct from our gross pay an estimate of the federal and state income taxes we owe.
The gross pay can be between 1,500 and 3,000 feet, with net pay per formation usually around 50 to 150 feet.