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Wage
A wage is payment made by an employer to an employee for work (human activity), work done in a specific period of time. Some examples of wage payments include wiktionary:compensatory, compensatory payments such as ''minimum wage'', ''prevailing wage'', and ''yearly bonuses,'' and wiktionary:remunerative, remunerative payments such as ''prizes'' and ''tip payouts.'' Wages are part of the expenses that are involved in running a business. It is an obligation to the employee regardless of the profitability of the company. Payment by wage contrasts with salary, salaried work, in which the employer pays an arranged amount at steady intervals (such as a week or month) regardless of hours worked, with Commission (remuneration), commission which conditions pay on individual performance, and with compensation based on the performance of the company as a whole. Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Wage
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. List of countries by minimum wage, Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by Automation, automating job functions. Minimum wage policies can vary significantly between countries or even within a country, with different regions, sectors, or age groups having their own minimum wage rates. These variations are often influenced by factors such as the cost of living, regional economic conditions, and industry-specific factors. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by employers who were thought to have unfair bargaining power o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wage Labour
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract. These transactions usually occur in a labour market where wages or salaries are market-determined. In exchange for the money paid as wages (usual for short-term work-contracts) or salaries (in permanent employment contracts), the work product generally becomes the undifferentiated property of the employer. A wage labourer is a person whose primary means of income is from the selling of their labour in this way. Characteristics In modern mixed economies such as those of the OECD countries, it is the most common form of work arrangement. Although most labour is organised as per this structure, the wage work arrangements of CEOs, professional employees, and professional contract workers are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary
A salary 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. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salaries are typically determined by comparing market pay-rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wage Labour
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract. These transactions usually occur in a labour market where wages or salaries are market-determined. In exchange for the money paid as wages (usual for short-term work-contracts) or salaries (in permanent employment contracts), the work product generally becomes the undifferentiated property of the employer. A wage labourer is a person whose primary means of income is from the selling of their labour in this way. Characteristics In modern mixed economies such as those of the OECD countries, it is the most common form of work arrangement. Although most labour is organised as per this structure, the wage work arrangements of CEOs, professional employees, and professional contract workers are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employer
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by employment laws, organization or legal contracts. Employees and employers An employee contributes labour and expertise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prevailing Wage
In United States government contracting, a prevailing wage is defined as the hourly wage, usual benefits and overtime, paid to the majority of workers, laborers, and mechanics within a particular area. This is usually the union wage. Prevailing wages are established by regulatory agencies for each trade and occupation employed in the performance of public work, as well as by State Departments of Labor or their equivalents. Prevailing wage may also include other payments such as apprenticeship and industry promotion. In the United States, the Davis–Bacon Act of 1931 and related amendments pertain to federally funded projects. There are also 32 states that have state prevailing wage laws, also known as "little Davis–Bacon Acts". The rules and regulations vary from state to state. As of 2016, the prevailing wage requirement, codified in the Davis–Bacon Act, increases the cost of federal construction projects by an average of $1.4 billion per year. History "Prevailing wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gratuity
A gratuity (often called a tip) is a sum of money customarily given by a customer to certain service sector workers such as hospitality for the service they have performed, in addition to the basic price of the service. Tips and their amount are a matter of social custom and etiquette, and the custom varies between countries and between settings. In some countries, it is customary to tip servers in bars and restaurants, taxi drivers, tattoo artists, hair stylists and so on. However, in some places tipping is not expected and may be discouraged or considered insulting. The customary amount of a tip can be a specific range or a certain percentage of the bill based on the perceived quality of the service given. It is illegal to offer tips to some groups of workers, such as U.S. government workers and more widely police officers, as the tips may be regarded as bribery. A fixed percentage service charge is sometimes added to bills in restaurants and similar establishments. Tippin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assyria
Assyria (Neo-Assyrian cuneiform: , ''māt Aššur'') was a major ancient Mesopotamian civilization that existed as a city-state from the 21st century BC to the 14th century BC and eventually expanded into an empire from the 14th century BC to the 7th century BC. Spanning from the early Bronze Age to the late Iron Age, modern historians typically divide ancient Assyrian history into the Early Assyrian period, Early Assyrian ( 2600–2025 BC), Old Assyrian period, Old Assyrian ( 2025–1364 BC), Middle Assyrian Empire, Middle Assyrian ( 1363–912 BC), Neo-Assyrian Empire, Neo-Assyrian (911–609 BC), and Post-imperial Assyria, post-imperial (609 BC– AD 240) periods, based on political events and gradual changes in language. Assur, the first Assyrian capital, was founded 2600 BC, but there is no evidence that the city was independent until the collapse of the Third Dynasty of Ur, in the 21st century BC, when a line of independent kings starting with Puzur-Ashur I began rulin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Remunerative
Remuneration is the pay or other financial compensation provided in exchange for an employee's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). Remuneration is one component of reward management. In the UK, it can also refer to the automatic division of profits attributable to members in a Limited Liability Partnership (LLP). Types Remuneration can include: *Commission *Employee benefits *Employee stock ownership *Executive compensation **Deferred compensation *Salary **Performance-linked incentives *Wage * Mandatory compensation payable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee United States For wage withholding purposes under U.S. income tax law, the term "wage" means remuneration (with certain exceptions) for services performed by an employee for an employer.''See generally'' subsection (a) of . Under the faithless servant The faithless servant Legal doct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piece Rate
Piece work or piecework is any type of employment in which a worker is paid a fixed piece rate for each unit produced or action performed, regardless of time. Context When paying a worker, employers can use various methods and combinations of methods. Some of the most prevalent methods are: wage by the hour (known as "time work"); annual salary; salary plus commission (common in sales jobs); base salary or hourly wages plus gratuities (common in service industries); salary plus a possible bonus (used for some managerial or executive positions); salary plus stock options (used for some executives and in start-ups and some high tech firms); salary pool systems; gainsharing (also known as "profit sharing"); and being paid by the piece – the number of things they make, or tasks they complete (known as "output work"). Some industries where piece rate pay jobs are common are agricultural work, cable installation, call centers, writing, editing, translation, truck driving, data ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Work (human Activity)
Work, labor (labour in Commonwealth English), occupation or job is the intentional activity people perform to support the needs and desires of themselves, other people, or organizations. In the context of economics, work can be seen as the human activity that contributes (along with other factors of production) towards the goods and service (economics), services within an economy. Work has existed in all human societies, either as Payment, paid or unpaid work, from hunting and gathering, gathering natural resources by hand in hunter-gatherer groups to operating complex technology, technologies that mechanization, substitute for physical or automation, even mental effort within an Agriculture, agricultural, Industry (economics), industrial, or post-industrial society. All but the simplest tasks in any work require specific skills, tools, and other resources, such as material for manufacturing goods. Humanity has developed a variety of institutions for group coordination of work, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Weight
In science and engineering, the weight of an object is a quantity associated with the gravitational force exerted on the object by other objects in its environment, although there is some variation and debate as to the exact definition. Some standard textbooks define weight as a Euclidean vector, vector quantity, the gravitational force acting on the object. Others define weight as a scalar quantity, the magnitude of the gravitational force. Yet others define it as the magnitude of the reaction (physics), reaction force exerted on a body by mechanisms that counteract the effects of gravity: the weight is the quantity that is measured by, for example, a spring scale. Thus, in a state of free fall, the weight would be zero. In this sense of weight, terrestrial objects can be weightless: so if one ignores Drag (physics), air resistance, one could say the legendary apple falling from the tree, on its way to meet the ground near Isaac Newton, was weightless. The unit of measurement fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
