What do mean by wage?

What do mean by wage?

1a : a payment usually of money for labor or services usually according to contract and on an hourly, daily, or piecework basis —often used in plural. b wages plural : the share of the national product attributable to labor as a factor in production.

What is an example of a wage?

Money paid to an employee for work done, and usually figured on an hourly, daily, or piecework basis. Wage is money paid to a worker for work performed, or the price you pay for doing something wrong or unwise. If you make $10 per hour at work, this is an example of your wage.

What does wage mean in social studies?

money that is paid or received for work or services, as by the hour, day, or week. Compare living wage, minimum wage. Usually wages. Economics. the share of the products of industry received by labor for its work (as distinct from the share going to capital).

What does wages mean in war?

to start and to continue a war or a fight. wage war (on): The government has pledged to wage war on drugs. Synonyms and related words. Fighting in a war and relating to fighting in a war.

What is your definition of a just a wage?

Key Takeaways. A justified wage is a fair level of compensation paid to an employee that takes into account both market and non-market factors. It is a wage that is often greater than the minimum wage, but which also allows employers to actively seek out and hire workers.

What is difference between wage and salary?

Salary is the fixed amount of compensation which is paid for the performance of an employee. Wage is the variable amount of compensation which is paid on the basis of hours spent in finishing a certain amount of work.

What are the 6 types of wages?

There are six basic forms of compensation: salary, short-term incentives (STIs or bonuses), long-term incentive plans (LTIPs), benefits, paid expenses, and insurance.

What is the difference between a wage and a salary?

non-exempt: Most waged employees are non-exempt, so they are eligible to receive overtime pay. Someone who is paid a salary is often not eligible to receive overtime, or they are considered to be an exempt employee. This is true even if the salaried employee technically works more than 40 hours each week.

What is wage and salary and example?

The essential difference between a salary and wages is that a salaried person is paid a fixed amount per pay period and a wage earner is paid by the hour. Someone who is paid wages receives a pay rate per hour, multiplied by the number of hours worked. This person is considered to be a non-exempt employee.

Is waging a war?

To instigate or initiate war against some other country or group of people. Under the rule of its new dictator, the country has begun waging war on its neighbors in an attempt to consolidate power. A severe depletion of resources led several tribes in the region to wage war for many years.

Is it raging war or waging war?

“Wage” means to engage in, conduct, carry out. It’s a transitive verb, meaning it must have an object, meaning we have to “wage” something — a battle, a campaign, war. No one can rage war or a campaign or a battle or a storm. Those things (among others) just “rage.” Or sometimes “rage on.”

Is wage and salary the same thing?

wage in the workplace. The two primary types of employees are those who are salaried and those who work for wages or an hourly rate. wage, the differences between a salary and a wage, and the benefits of being a salaried employee vs. being an hourly employee.

Which is the best definition of a wage?

What are Wages? Home » Accounting Dictionary » What are Wages? Definition: A wage is compensation paid to employees for work for a company during a period of time. Wages are always paid based on a certain amount of time. This is usually an hourly basis.

When did the word wage first appear in English?

According to etymonline.com, the term ‘wage’ first appeared in the English language in the thirteenth century in Britain. It meant ‘a payment for services rendered, just desserts, reward.’. By the mid-14th century, the meaning expanded to include ‘salary paid to a provider of a service.’.

How to use the word wage in a sentence?

Examples of wage in a Sentence. Noun Both of them make decent wages. The table and chairs cost two weeks’ wages. The company offers competitive wages and good benefits. The company gave workers a four percent wage increase this year. Verb They waged a guerrilla war against the government.

What is the definition of wages under the Employment Act 1955?

Under section 2 of the Employment Act 1955, the term “wages” means basic wages and all other payments in cash payable to an employee for work done in respect of his contract of service but does not include-.