Salary
Salary
Salary (/ˈsæləri/; from the Latin word salarium) is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour, or other unit is paid separately, rather than on a periodic basis.
Etymology
The term 'salary' originates from the Latin word salarium, which was the money paid to Roman soldiers for the purchase of salt. The Latin term salarium linked employment, salt, and soldiers. This gives rise to the modern word "salary".
Related Terms
- Wage: A wage is a compensation, usually financial, received by workers in exchange for their labor.
- Compensation: Compensation is the total cash and non-cash payments that you give to an employee in exchange for the work they do for your business.
- Payroll: Payroll is the process by which employers pay an employee for the work they have completed.
- Income: Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.
- Employment Contract: An employment contract or contract of employment is a kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain.
See Also
External links
- Medical encyclopedia article on Salary
- Wikipedia's article - Salary
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