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Gross salary is the amount your employer pays an employee, plus one's income tax liability. Although the tax itself is included in this figure, it is typically the one used when discussing one's pay. For example, John gets paid $50/hour as an administrative director. His annual gross salary is $50/hour x 2,000 hours/year = $100,000/year.
The overall median personal income for all individuals over the age of 18 was $24,062 [255] ($32,140 for those age 25 or above) in the year 2005. [256] As a reference point, the minimum wage rate in 2009 and 2017 was $7.25 per hour or $15,080 for the 2080 hours in a typical work year.
The Fair Labor Standards Act of 1938 has required a minimum wage of $2.13 for tipped workers, with the expectation that wages plus tips total no less than $7.25 per hour, since September 1, 1991. [190] The employer must pay the difference if total income does not add up to $7.25 per hour. [191] Non-tipped $7.25
The poll indicated that 69% of Americans supported the government doing "a lot" or "some" to address income inequality and that 73% of Americans supported raising the minimum wage from $7.25 to $10.10 per hour. [193]
Median U.S. household income per County in 2021 Median U.S. household income through 2019 U.S. real median household income reached $63,688 in January 2019, an increase of $171 or 0.3% over one month over that of December 2018. This article is part of a series on Income in the United States of America Topics Household Personal Affluence Social class Income inequality gender pay gap racial pay ...
In the UK in 2006, "more than five million people – over a fifth (23 percent) of all employees – were paid less than £6.67 an hour". This value is based on a low pay rate of 60 percent of full-time median earnings, equivalent to a little over £12,000 a year for a 35-hour working week.
Since the 1990s, CEO compensation in the U.S. has outpaced corporate profits, economic growth and the average compensation of all workers. Between 1980 and 2004, Mutual Fund founder John Bogle estimates total CEO compensation grew 8.5 per cent/year compared to corporate profit growth of 2.9 per cent/year and per capita income growth of 3.1 per cent.
In Japan the Labour Standards Act (労働基準法) of 1947 provides for an eight-hour work day and 40-hour workweek with at least one day off per week. The act requires a premium of at least 25% over the ordinary hourly wage for any overtime work, 35% for any work on prescribed off days, and an additional 25% for any work between 10 pm and 5 ...