A salary is a fixed amount of payment which an employee recieves from an employer and usually the amount of salary varies according to position or job. In most cases a salary is paid monthly, though some organizations may pay on a weekly or bi-monthly basis depending on the agreements shown in an employment contract. The amount of salary is fixed and it can be negotiated during an interview, however, it may change if an employee is promoted or demoted. Sometimes a salary can be attached with a bonus Incase an employee shows good performance.
Salary vs Wage
Salary is different from wage. Though some people use these two words interchangeably to mean the same thing.
A salary as mentioned above, is a regular fixed payment in which an employee is contracted to receive from an employer usually on a monthly basis. While a wage is a hourly or daily basis payment that depends on the time a person used to work and the performance he or she offered. This type of payment is usually for labourers and in most cases there is no employment contract.
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