I just appied for a position at a company that says they offer a competitive compensation package that includes base salary. I would like to know what that means. Would I be getting paid by the hour or a yearly salary?
2007-01-10 08:36:55 · 10 answers · asked by Dobe 1 in Business & Finance ➔ Careers & Employment
Usually a base salary means you could either get commission, or the ability to work overtime and earn money over and above your hourly or yearly salary, but you are guaranteed this certain dollar amount regardless.
An example - your base salary is $20,000 - you get that whether you get a commission, or overtime on top of that. Let's say you earn $10,000 in commission or overtime, that would increase your yearly salary to $30,000.. but if you don't get a commission or overtime your "base salary" or guaranteed salary is still $20,000.
I hope that helped.
2007-01-10 08:48:21 · answer #1 · answered by Proud to be 59 7 · 1⤊ 0⤋
Base salary is the least you will be paid. All other compensation would come in the form of bonuses, commissions, cola (cost of living allowances), etc. The salary may be monthly or yearly. A few pay quarterly.
An hourly wage is just that: a wage. A salary is a set amount for a set amount of time (week, month, year) and generally doesn't go up or down even if you work less or more than 40 hours a week.
Research the company you've applied to in an effort to get a better idea of their compensation.
You should research the company anyway -- preferably before you apply -- because many companies want the person who is most interested and knowledgeable of the company itself, not just a paycheck. If the interviewer asks you what kind of product the company sells and you're not able to say, you may find yourself thanked for your time within only a few minutes.
2007-01-10 08:49:47 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Base Salary
2016-09-28 13:51:54 · answer #3 · answered by ? 4 · 0⤊ 0⤋
"Base Salary" is a fixed, recurring portion of the employee's compensation. It is the floor or the minimun salary or hourly wage you will recieve. However, this company of yours may provide other incentives, or other opportunites of making additional money on top of your base salary.
Whether or not you will be paid hourly or by salary, look at the figure. You are obviously not goint to live off of $10-$20 for a year. So in that case it would be hourly. But if it's $25,000+ its probably a salary.
2007-01-10 08:50:19 · answer #4 · answered by DreamMaker 2 · 0⤊ 0⤋
I work in sales. I get a base salary (monthly salary, not yearly) plus commission on what I sell. If I sell nothing, I am guaranteed my base salary (although If I don't sell anything, they probably won't keep me around too long!)
2007-01-10 08:45:52 · answer #5 · answered by Answer Schmancer 5 · 0⤊ 0⤋
Salary is defined as a set amount for a specific amout of full time work. Since they referred to base, that could mean that you could possibly earn overtime and or bonus money. Good question and be sure, if you are offered this position, to have them explain what their terms mean.
2007-01-10 08:43:58 · answer #6 · answered by Jan C 7 · 0⤊ 0⤋
base salary means the minimum salary offered for that position .
It can be either hourly or yearly.
If you are lucky enough to interview with this employer I am sure they will bring it up
2007-01-10 08:42:06 · answer #7 · answered by That_ blue_ eyed_ Irish_ lass 6 · 0⤊ 0⤋
base salary is a guaranteed income. your new job must have other things, such as new business sales, that is intended to also be a part of your income. Be sure and ask questions so there will be no surprises later
2007-01-10 08:44:22 · answer #8 · answered by nurse ratchet 6 · 0⤊ 0⤋
a minimum salary. It is often a good idea to work for comission to get more money on top of that. it is hourly, I think.
2007-01-10 08:45:58 · answer #9 · answered by diamonds_are_forever<3 3 · 0⤊ 0⤋
means you would get a certain amount as a salary and more with bonuses and commissions.
2007-01-10 08:47:41 · answer #10 · answered by Anonymous · 0⤊ 0⤋