Wage
Wage
Wage (/weɪdʒ/; from Old North French wage, meaning 'pledge') is a payment made by an employer to an employee for services rendered. Typically, wages are computed in terms of pay per hour, although other methods may be used.
Etymology
The term wage originates from the Old North French word wage, which means 'pledge'. This term was used in the Middle Ages to denote a pledge or guarantee that a task would be completed. Over time, it evolved to refer to the payment given in return for work.
Related Terms
- Salary: A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.
- Compensation: The total amount an employee receives for services, including wages, benefits, and any profit-sharing or bonuses.
- Minimum Wage: The lowest wage permitted by law or by a special agreement.
- Living Wage: A wage that is high enough to maintain a normal standard of living.
- Overtime: Time worked beyond the standard hours for which an employee will receive additional pay, often calculated as a higher wage rate.
- Payroll: The total amount of wages paid by a company to its employees.
See Also
External links
- Medical encyclopedia article on Wage
- Wikipedia's article - Wage
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