Being paid on a "salary basis" means an employee regularly receives a predetermined amount of compensation each pay period on a weekly, or less frequent, basis. The predetermined amount cannot be reduced because of variations in the quality or quantity of the employee's work.
The pay or wages you earn for doing your job is called your salary. You might prefer your low-paying job to one with a higher salary because you have so much fun with your co-workers. Salary comes from the Latin word salarium, which also means "salary" and has the root sal, or "salt."
Salaried employee definition According to the Fair Labor Standards Act, a salaried employee is someone who's paid a set amount of compensation, otherwise known as a …
The pay you receive for the work you perform is known as your salary. It is important to understand the difference between a salary and the total compensation offered for a specific position. Different …
Definition of salary in the Definitions.net dictionary. Meaning of salary. What does salary mean? Information and translations of salary in the most comprehensive dictionary definitions resource on the web. ... There are obviously specific signs for many words available in sign language that are more appropriate for daily usage. Close.
salary in British English. (ˈsælərɪ ) noun Word forms: plural -ries. 1. a fixed regular payment made by an employer, often monthly, for professional or office work as …
A salary is the money that someone is paid each month by their employer, especially when they are in a profession such as teaching, law, or medicine. [...] See full entry for 'salary' Collins COBUILD Advanced Learner's Dictionary. Copyright © HarperCollins Publishers Definition of 'package' package (pækɪdʒ ) countable noun
: an amount of money that an employee is paid each year A salary is divided into equal amounts that are paid to a person usually once every two weeks or once every month. [count] She was offered a salary of $50,000 a year. [noncount] Employees receive an annual increase in salary. — compare 1 wage
Hourly Employee Definition. On the other hand, an hourly employee gets paid on the basis of a predetermined hourly rate. Hourly employees are paid for the exact amount of time they work each pay …
Salaried Employees Defined The definition of salary pay in a nutshell: a salaried employee gets paid on the basis of a predetermined annual amount. That annual salary is divided between the employer's …
Salary deduction definition: A deduction is a conclusion that you have reached about something because of other things... | Meaning, pronunciation, translations and examples
Payroll Payroll is a general term and it has several meanings: The amount of money paid to all employees on a payday, as in, "We ran payroll this morning for tomorrow's payday." The financial records of a company relating to the payment of wages and salaries to employees The total record of earnings of employees for a year 1 Gross Pay
Salary definition, a fixed compensation periodically paid to a person for regular work or services. See more.
Payroll terminology includes information related to compensation, deductions, taxes, benefits, and compliance. Whether you're a seasoned pro or a newcomer to running payroll, there's a lot of jargon and terminology you need to know (and remember!) Fortunately, this comprehensive glossary is here to help.
salary: [noun] fixed compensation paid regularly for services.
The meaning of SALARY is fixed compensation paid regularly for services. How to use salary in a sentence.
Salary. For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $408,000 during each year of the Employment Term. Said salary shall be payable in equal installments in conformity with Employer's normal payroll period.
A compensation analysis, also called salary analysis or pay analysis, is an organization-wide review of how your jobs are classified and compensated. Performing a compensation analysis is an efficient way to review how your employees are being paid, and to ensure they're being compensated fairly for the work they are doing.
An employee's minimum pay, such as their fixed salary or regular hourly rate. Base pay does not include additional compensation like overtime, benefits, or bonuses. Biweekly Pay Refers to when an …
by Carrie Morris. Every wonder what "Salary is commensurate with experience means?". Variants include: "competitive salary based on experience," and "we offer a competitive compensation and benefits package.". By not stating a level of compensation, the business has greater flexibility to offer what it feels is most appropriate.
Fortunately, this comprehensive glossary is here to help. From accruals to W-2s and other related payroll abbreviations, this list will provide you with definitions and explanations for the most common payroll terms. 401(k) A 401(k) plan allows employees to contribute a portion of their salary on a pre-tax and/or post-tax basis for retirement.
salary: 1 n something that remunerates Synonyms: earnings, pay, remuneration, wage Types: show 11 types... hide 11 types... combat pay extra pay for soldiers engaged in active combat double time a doubled wage (for working overtime) found food and lodging provided in addition to money half-pay reduced wage paid to someone who is not working ...
Being paid on a "salary basis" means an employee regularly receives a predetermined amount of compensation each pay period on a weekly, or less frequent, basis. The predetermined amount cannot be reduced because of variations in the quality or quantity …
salary noun sal· a· ry ˈsal- (ə-)rē plural salaries : money paid at regular times for work or services : stipend Etymology Middle English salarie "money paid to a worker," from Latin …
Department of Labor Salary vs Hourly Definitions. When it comes to understanding the Department of Labor salary vs hourly definitions, it's based on how employee compensation is calculated. …
Definition: The level of information that is shared with employees regarding the company's compensation plan. Why it matters: More and more companies across all industry sectors are shifting...
Fortunately, this comprehensive glossary is here to help. From accruals to W-2s and other related payroll abbreviations, this list will provide you with definitions …
Britannica Dictionary definition of SALARY. : an amount of money that an employee is paid each year. A salary is divided into equal amounts that are paid to a person usually once every two weeks or once every month. [count] She was offered a salary of $50,000 a year. [noncount] Employees receive an annual increase in salary. — compare 1 wage.
What is a Salary Reduction Agreement? A salary reduction agreement is a written legal agreement between a company and its employee outlining the terms of transferring percentages of the employee's salary to a 401 (k), 403 (b), or IRA retirement plan.
salary / ( ˈsælərɪ) / noun plural -ries a fixed regular payment made by an employer, often monthly, for professional or office work as opposed to manual workCompare wage (def. …
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.