A salary is a specified amount of money that an employer pays an employee for services rendered, as established by an employment contract or offer letter.
Salary Extended Definition
An employee’s salary is the annual amount they receive in exchange for working at a business. In most cases, employers pay employees their salary weekly, biweekly, semimonthly, or monthly.
While the salary amount can vary greatly from one employee to the next, it is based on a standard and reasonable amount determined by the scope of work performed and the employee’s experience level.
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Last Updated By
Jenna Hutkowski | Apr 28, 2023