Business Dictionary :


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Wage : noun : money paid (usually in cash each week) to a worker for work done

• She is earning a good wage.

• He is getting good wages in the supermarket.

Basic Wage = normal pay without any extra payments

• The basic wage is £110 a week. But you can expect to earn more than that with overtime.

Hourly Wage or Wage per Hour = amount of money paid for an hour's work

Minimum Wage = lowest hourly wage which a company can legally pay its workers

Wage Adjustments = changes made to wages

Wage Claim = asking for an increase in wages

Wages Clerk = office worker who deals with the pay of other workers

Wage Differentials = differences in salary between workers in similar types of jobs

Wage Freeze or Freeze on Wages = period when wages are not allowed to increase

Wage Levels = rates of pay for different types of work

Wage Negotiations = discussions between management and workers about pay

Wage Packet = envelope containing money and pay slip

Wages Policy = government policy on what percentage increases should be paid to workers

Wage-Price Spiral = situation where price rises encourage higher wage demands which in turn make prices rise

Wage Scale = list of wages showing different rates of pay for different jobs in the same company

NOTE : The term wages is more usual when referring to money earned. But the term wage is used before other nouns.

Wage-Earner : noun : person who earns money paid weekly in a job

Wage-Earning : adjective : the wage-earning population = people who have jobs and earn money

QUOTE : European economies are being held back by rigid labour markets and wage structures. (Duns Business Month)

QUOTE : Real wages have been held down dramatically. They have risen at an annual rate of only 1% in the last two years. (Sunday Times)

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