Pay (Wages, Salary)
When you have a job you may get paid a wage or a salary.
What is the difference?
Wages are a payment for work based on hours worked (or sometimes per day or per amount of work done).
It can be paid weekly, two-weekly, or monthly.
Example: Alex earns $20 per hour, and worked 40 hours last week so earned an $800 wage.
Sometimes you can get paid at a higher rate, such as
- when working "overtime" (time worked over the normal working hours)
- when working on weekends or holidays
Example: Alex worked 2 hours extra on Tuesday, and earned $30 per hour (overtime rate) for those two hours.
So, that week Alex earned an extra $60 and got paid $860
Salary is payment for work based on a fixed amount per month or year. Usually paid weekly or monthly.
Example: Sandy has an annual salary of $120,000, which is paid weekly.
So Sandy gets about $2,300 per week.
When you are paid a salary you usually don't get extra for overtime work, but you often get other benefits.