what is the difference between wage and salary
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Answer:
The essential difference between a salary and wages is that a salaried person is paid a fixed amount per pay period and a wage earner is paid by the hour. ... Someone who is paid wages receives a pay rate per hour, multiplied by the number of hours worked. This person is considered to be a non-exempt employee
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Explanation:
The essential difference between a salary and wages is that a salaried person is paid a fixed amount per pay period and a wage earner is paid by the hour. ... Someone who is paid wages receives a pay rate per hour, multiplied by the number of hours worked. This person is considered to be a non-exempt employee.
Wages are hourly or daily payments for work done during the working day. The main difference between salary and hourly wage is that salaries are a fixed upon payment agreed to by both the employer and employee. Wages, on the other hand, may vary depending on hours worked and performance.
Wages and salaries include: all gratuities, bonuses, ex gratia payments, "thirteenth month payments", severance payments, lodging, transport, cost-of-living, and family allowances, tips, commission, attendance fees, etc.