wages and salary.difference

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vil

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Hi hoangdinhnam,

wage = sing. 1. money paid for human work

2. the price paid for work, based on hourly, daily, weekly, or piece-work rates:

The daily wage of a temporary worker is &10.
He receives a wage of &50 a week.

There are: basic wage, entry-level wage, gross wage, guaranteed wage, incentive wage, living wage, minimum wage, net wage, time wage.

wages pl. = 1) regular income from emploiment, usu. paid weekly in an envelope, but perh. daily for casual or temporary workers.
2) the earnings of weekly-paid employees who work with their hands or do the simpler jobs in an office, as opposed to monthly salaries earned by supervisors and managers.

salary = a regular monthly payment to an employee doing administrative work, esp. in an office, or carrying managerial responsibility. Salaries are niot closely related to the actuual number of hours worked or the quantity of goods produced by the employee.

Regards.

V.
 
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Stilo

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Hi hoangdinhnam,

wage = sing. 1. money paid for human work

2. the price paid for work, based on hourly, daily, weekly, or piece-work rates:

The daily wage of a temporary worker is &10.
He receives a wage of &50 a week.

There are: basic wage, entry-level wage, gross wage, guaranteed wage, incentive wage, living wage, minimum wage, net wage, time wage.

wages pl. = 1) regular income from emploiment, usu. paid weekly in an envelope, but perh. daily for casual or temporary workers.
2) the earnings of weekly-0paid employees who work with their hands or do the simpler jobs in n office, as opposed to monthly salaries earned by supervisors and managers.

salary = a regular monthly payment to an employee doing administrative work, esp. in an office, or carrying managerial responsibility. Salaries are niot closely related to the actuual number of hours worked or the quantity of goods produced by the employee.

Regards.

V.


Sorry Vii this latter definition and part of the former, I would question. After working in admin. for more years than I would like to mention. I worked full-time (39 hours) and was paid a salary. My colleagues, not management, were paid a salary for part time hours.on a set number of hours contract. Other non admin. colleagues part time or full-time were still paid a salary. A salary is as you say a regular monthly payment, normally paid direct into a bank account, but tied to a set amount of hours (contracted)
A wage, is normally paid weekly, by pay packet or direct into a bank account, and is normally not tied to a set amount of hours. Often set on a 0 or minimum number of hours contract.
Regards
Stilo
 

sarat_106

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I am not a professional teacher but I have some working experience in a company which produces and markets certain consumer goods. There, the terms ‘salary’ and ‘wage’ have been classified as two types of cost for the purpose of computing the cost of product/goods produced. As all of you may be aware, the total cost of a product comprise of (i) cost of material (ii) cost of direct labour (iii) cost of overhead & (iv) profits. This is simple costing and according to basic principles of costing, the wage element comes under direct labour. It represents the wages paid to workmen directly employed in the production process. The payment may be made daily, weekly or monthly depending upon the type of workmen. The salary element comes under overhead and it represents the emoluments paid to supervisory staff, executives, clerical & accounting staff (mostly white collar employees) and payment here is generally made on monthly basis.
The following is a clarification given by Newbury House American Dictionary: "A wage is money paid to an hourly worker, who by law has the right to overtime pay for extra hours worked beyond 40 hours per week. A salary is a fixed annual amount paid to a worker in a higher position, who does not get compensation for extra hours worked. A salary can be paid weekly, bimonthly, or monthly, and often includes paid sick and vacation time."

Finally it boils down to this:
Wage: Paid to a worker employed directly in the production process on hourly basis who is entitled to compensation or overtime for doing work beyond specified hours. For the purpose of computing cost it comes under direct labour.
Salary: It is a fixed amount aount calculated on monthly or annual basis and paid to a worker usually in higher positions, who is not entitled to compensation or overtime. For the purpose of costing it is an Overhead cost.
 
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jctgf

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hi,
my English teacher, who is an American from Salt Lake City, told me that in the USA they don't use the term "salary".
she didn't elaborate on how frequently the payment is made but we were talking about a monthly payment at the time of her explanation.
 

vil

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Hi Stilo,

There are my further explanations concerning the matter in question. Presumably, you have to seek an authentic informationfrom more reliable ources (for example Longman Dictionary of Business English) and not to rely only on your over-modest experience.

wages,
payment received by an employee in exchange for labor. It may be in goods or services but is customarily in money. The term in a broad sense refers to what is received in any way for labor, but wages usually refer to payments to workers who are paid by the hour, in contrast to a salary, which implies a more fixed and permanent form of income (e.g., payment by the month rather than by the hour). In economic theory, wages reckoned in money are called nominal wages, as distinguished from real wages, i.e., the amount of goods and services that the money will buy. Real wages depend on the price level, as well as on the nominal or money wages.

A salary is a form of periodic payment from an employer to an employee, which is 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.

Employment contracts typically lay out the wages, bonuses, vacations, medical leaves (including maternity/paternity), stock options, and other benefits and compensation that the worker receives for fulfilling his/her obligations to the employer.

Regards.

V.
 

BobK

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hi,
my English teacher, who is an American from Salt Lake City, told me that in the USA they don't use the term "salary".
...
:up: Aha - that would explain why my old US employers called it 'compensation' (which seemed to me rather quaint when I first heard it).

b
 

Stilo

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Vii
I think the originator has got the jist of the difference.
It is possibly, not worth spending anymore time on it, if salary is little used in USA.
Stilo
 
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