Wage

wageswage ratelabor costslabour costspaycompensationhourly wagepaidcost of laborEarnings
A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.wikipedia
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Salary

salariessalariedsalaried employee
Payment by wage contrasts with 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 which conditions pay on individual performance, and with compensation based on the performance of the company as a whole.
It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis.

Wage labour

wage laborlaborlabour
Payment may be calculated as a fixed amount for each task completed (a task wage or piece rate), or at an hourly or daily rate (wage labour), or based on an easily measured quantity of work done. Wage labour involves the exchange of money for time spent at work (the latter quantity is termed labor power by Marx and subsequent economists).
These transactions usually occur in a labour market where wages or salaries are market determined.

Piece work

pieceworkpiece ratepiece-rate
Payment may be calculated as a fixed amount for each task completed (a task wage or piece rate), or at an hourly or daily rate (wage labour), or based on an easily measured quantity of work done.
Simply counting the number of pieces produced by a worker was likely easier than accounting for that worker's time, as would have been required for the computation of an hourly wage.

Trade union

unionlabor uniontrade unionist
In the United States, wages for most workers are set by market forces, or else by collective bargaining, where a labor union negotiates on the workers' behalf.
This may include the negotiation of wages, work rules, complaint procedures, rules governing hiring, firing and promotion of workers, benefits, workplace safety and policies.

Supply and demand

demandsupplylaw of supply and demand
In the United States, wages for most workers are set by market forces, or else by collective bargaining, where a labor union negotiates on the workers' behalf. Depending on the structure and traditions of different economies around the world, wage rates will be influenced by market forces (supply and demand), legislation, and tradition.
The model is commonly applied to wages, in the market for labor.

Prevailing wage

prevailingprevailing hourly wage rate
For certain federal or state government contacts, employers must pay the so-called prevailing wage as determined according to the Davis-Bacon Act or its state equivalent.
In 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.

Remuneration

compensationemolumentemoluments
A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.
Wage

Labour power

labor powerlabour-powerabstract labour
Wage labour involves the exchange of money for time spent at work (the latter quantity is termed labor power by Marx and subsequent economists).
Therefore, labour costs have never been simply an "economic" or "commercial" matter, but also a moral, cultural and political issue.

Employee benefits

benefitsemployee benefitperquisite
Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of compensation.
Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries.

Minimum wage

minimum-wageminimum wagesfederal minimum wage
Fourteen states and a number of cities have set their own minimum wage rates that are higher than the federal level.
Under the monopsonistic assumption, an appropriately set minimum wage could increase both wages and employment, with the optimal level being equal to the marginal product of labor.

Performance-related pay

bonusbonusespay for performance
Performance-related pay
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform.

Employment

employeeemployeremployees
A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.
These transactions usually occur in a labor market where wages are market determined.

Wage share

workers' share in output
Wage share
In economics, the wage or labor share is the part of national income, or the income of a particular economic sector, allocated to wages (labor).

Internal Revenue Code

U.S. tax codetax codeIRC
§ 3401(a) defines the term "wages" specifically for chapter 24 of the Internal Revenue Code:
Wages

Working class

working-classlower classworkers
Working class
The working class (or labouring class) comprises those engaged in waged or salaried labour, especially in manual-labour occupations and industrial work.

Labour economics

laborlabor marketlabour market
Labour economics
Since the amount of physical capital affects MRP, and since financial capital flows can affect the amount of physical capital available, MRP and thus wages can be affected by financial capital flows within and between countries, and the degree of capital mobility within and between countries.

Wage slavery

wage-slaverywage slaveswage slave
Wage slavery
It is usually used to refer to a situation where a person's livelihood depends on wages or a salary, especially when the dependence is total and immediate.

Compensation of employees

compensationcompensation modelstotal labor compensation
Compensation of employees
Wages

Davis–Bacon Act of 1931

Davis-BaconDavis-Bacon ActDavis-Bacon Related Acts
For certain federal or state government contacts, employers must pay the so-called prevailing wage as determined according to the Davis-Bacon Act or its state equivalent.
Wage

Proletariat

proletarianproletariansworking class
Proletarian
In Marxist theory, the proletariat is the social class that does not have ownership of the means of production and whose only means of subsistence is to sell their labor power for a wage or salary.

Marginal factor cost

Marginal factor cost
In the case of the labor input, for example, if the wage rate paid is unaffected by the number of units of labor hired, the marginal factor cost is identical to the wage rate.

Commission (remuneration)

commissioncommissionscommissioned
Payment by wage contrasts with 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 which conditions pay on individual performance, and with compensation based on the performance of the company as a whole.

Gratuity

tiptipstipping
Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of compensation.

Karl Marx

MarxMarxistMarxian
Wage labour involves the exchange of money for time spent at work (the latter quantity is termed labor power by Marx and subsequent economists).