the difference between SALARY and WAGE : can we say that the former is for monthly, and the latter is for hourly rate?
thank you.
2007-03-22 16:53:13 · 3 answers · asked by for2000 3 in Business & Finance ➔ Careers & Employment
Salary can be stated as weekly, bi-weekly, semi-monthly, monthly, annual. This term is used for exempt employees (not entitled to overtime based on FLSA guidelines) Wage can be a salary or an hourly rate, it is an amount you earn. For example: His hourly wage is $10.00 or His annual wages are $50,000.
2007-03-22 17:01:45 · answer #1 · answered by Mom of 2 4 · 0⤊ 0⤋
Salary is usually for management positions that have employees under them that is you get paid the same amount every week but most places require you to work at least 45 hrs if you are salaried. Wage it what you earn by the hour if you work 40 hrs then you get paid for 40 hrs and nothing more if you work less than 40 hrs that you get paid for what you work. i hope i explained it OK . i was salaried at one time but went to hourly wage make more because anything over 40 at my company is time and a half and Sundays as well so i make out better on an hourly wage
2007-03-23 00:03:11 · answer #2 · answered by Robin M 3 · 0⤊ 0⤋
That is the typical usage of those words - salary rerfers to per year or per month for an employee who is exempt for receiving overtim; wage refers to an hourly rate for an employee who is paid only for the hours that they work.
2007-03-23 00:02:18 · answer #3 · answered by Mel 6 · 0⤊ 0⤋