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 ?
In the November 2012 decision, a salaried employee was terminated for poor performance and paid only through the last day of work--not for the entire pay period.
He also suggested that salaried employees be given alternatives to the 27 pay periods, such as monthly or bi-monthly checks.
The airline said that, shortly after it emerges from Chapter 11 bankruptcy protection, current salaried employees below the director level, who took pay and benefit reductions due to the restructuring, will receive cash payments of USD31m.
The FLSA allows for another method of computing overtime for nonexempt salaried employees who work a fluctuating amount of overtime.
The relationship between civil servant and employer was not founded by signing a mutually binding contract - that would have been considered tantamount to reducing civil servants to the status of salaried employees, who were alleged to be interested foremost in the pecuniary rewards of their work.
John takes the position that, as a salaried employee, he is entitled to be paid for the entire two-week pay period during which his employment ended, even though his last day was before the end of the pay period.
The contract indicates that the layoff notice for 25 salaried employees is being withdrawn.
The agreement covers 180 salaried employees in Koping.
The company said it plans to implement other salaried workforce cost reductions, including freezing the defined benefit plan for salaried employees and replacing it with a defined contribution retirement benefit, and offering temporary incentives for voluntary retirements.
According to the motion, Durig shouted harassing comments to the salaried employee, including, "What's the f ing crack baby's name?
4 million being distributed via the plan is in lieu of $129 million claim that would have been provided under the salaried employee unsecured claim that Northwest previously filed with the United States Bankruptcy Court for the Southern District of New York.
News from USW: Nuclear Fuel Services (NFS) in Erwin has agreed to compensate a salaried employee who the company discharged earlier in the year for referring to a replacement worker who crossed the union picket line at the plant during a strike as "a scab.