Whats the difference between salary and wages?
Sure, here's the difference between salary and wages:
Salary:
- A fixed amount of money paid to an employee by an employer on a regular basis.
- It is typically paid in advance and is not affected by performance.
- It is often used for taxes and social security contributions.
Wages:
- The total amount of money earned by an employee during a specific period of time, typically a month or quarter.
- It includes the salary, overtime pay, bonuses, and other forms of compensation.
- Wages are typically paid on a weekly or biweekly basis.
In summary, the salary is a fixed amount of money paid to an employee, while the wages are the total amount of money earned by an employee during a specific period of time.