Wage – This term applies to the Labor Law. There it refers to the regular payment received by a worker hired on a labor contract, against the work he/she does for their employer. Usually, wages are given weekly or monthly. In most jurisdictions, the social and health insurance payment (as well the salary taxes, if applicable) are cut off from the total amount of the given payment. The wage differs than the award or fee received by contractors because the last is usually agreed as a total figure, while the wage is agreed as a regular payment. Also, it usually rises in time due to the relevant increase of the experience and qualification of the employee.
Synonyms are “pay”, “commission” and “salary”.
See also “salaried”