In English, there are words that are translated into Russian in the same way, but have a different sound and use. Some of these words are salary and wage.
Salary and wage are translated into Russian as “wages”. But these words are used in different ways in English speech.
What does salary mean?
Salary is a regular payment to an employee that is made monthly or annually, but is paid most often once a month.
Employee receives a fixed amount every month. His earnings are usually supplemented by paid vacations and holidays, he alth insurance and other benefits.
Salary is usually determined by comparing the salaries paid for similar jobs in the same region and industry. Most major employers have pay and salary levels that are related to position and length of service.
In most countries, salary is also affected by supply and demand - how many vacancies exist for a particular position inin relation to the number of people who could hold this position.
What does wages mean?
Lower level workers are paid according to the amount of hours worked. These employees usually have a time sheet. Most modern employers have computerized systems to keep track of the hourly working hours of employees, who must log in when they start work and log out when they are done to mark their working hours. Wages is paid once a week or two.
Rules for using salary and wages
Let's move on to how to use these terms. Now that it is clear what the difference between salary and wage is, let's look at the cases in which these definitions are used based on the following examples.
Wages is best associated with employee compensation based on the number of hours worked multiplied by the hourly wage rate. For example, an employee working in an assembly plant might work 40 hours a week.
If this worker's hourly rate is $15, they will receive a gross wage of $600 ($40 x $15). If an employee only worked 30 hours during that week, their paycheck would show a gross wage of $450 ($30x$15).
Salary is when an employee is paid a fixed amount in each period. And the amount of these fixed payments forthe full year is added to the salary. This employee is considered a free worker because there is no relationship between the amount paid and the number of hours worked. Usually the salary is received by the one who is in a managerial or professional position.
For example, if a person has a salary of $52,000 and is paid once a week, then the total amount of each of the 52 salaries he receives during the year is $1,000 (52,000/52 weeks). A wage earner is not paid less for working fewer hours, nor is he paid more for overtime.
There is also a difference between the salary and wage definitions regarding the speed of payment. If a person is paid a salary, they are paid before and subject to the date of payment because it is very easy for payroll personnel to calculate salary, which is a fixed rate. However, if a person is paid wages, they will most likely receive their salary five days after the period of work, since the salary must be calculated based on the actual hours worked.
If a person is paid wages and there is a gap between the last day worked and the pay date, that gap is paid in their next paycheck. This gap does not exist for the employee, as he is paid before the pay date. Thus, in a company's financial statements, it is much more likely that the payroll of the person to whom wages is paid is that of the person to whom salary is paid.
