Wage en


Wage meaning

A wage is monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done. 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, or based on an easily measured quantity of work done. Wages are an example of expenses that are involved in running a business. 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. Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of compensation.

Word: wage
Pronunciation of wage: 'wAj
Function of wage: noun
Origin of wage: Middle English, pledge, wage, from Old North French, of Germanic origin; akin to Gothic wadi pledge -- more at WED
1 a : 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 plural : the share of the national product attributable to labor as a factor in production
2 : RECOMPENSE, REWARD -- usually used in plural but sing. or plural in constr. <the wages of sin is death -- Rom 6:23 (Revised Standard Version)>
- wage·less /'wAj-l&s/ adjective