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  2. Compensation and benefits - Wikipedia

    en.wikipedia.org/wiki/Compensation_and_benefits

    Base Salary or Guaranteed Pay – a fixed monetary reward paid by an employer to an employee. This refers to the regular amount of money that an employee receives consistently. The basic salary, often referred to as the base or fixed salary, is the set amount that an employee receives for their standard work.

  3. Compensating differential - Wikipedia

    en.wikipedia.org/wiki/Compensating_differential

    Thus, higher pay in some areas of the country is expected where the cost-of-living is higher while higher pay is also necessary to compensate for a less pleasant working environment. The rate of pay in the private sector represents (according to the hypothesis) the exact rate necessary to attract and retain staff.

  4. Salary - Wikipedia

    en.wikipedia.org/wiki/Salary

    It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll ...

  5. Career ladder - Wikipedia

    en.wikipedia.org/wiki/Career_ladder

    A career ladder or corporate ladder is a metaphor for job promotion. In business and human resources management, the career ladder typically describes the progression from entry level positions to higher levels of pay, skill, responsibility, or authority.

  6. Employee benefits - Wikipedia

    en.wikipedia.org/wiki/Employee_benefits

    In a salary sacrifice arrangement an employee gives up the right to part of the cash remuneration due under their contract of employment. Usually the sacrifice is made in return for the employer's agreement to provide them with some form of non-cash benefit. The most popular types of salary sacrifice benefits include childcare vouchers and ...

  7. Efficiency wage - Wikipedia

    en.wikipedia.org/wiki/Efficiency_wage

    There are several theories (or "microfoundations") of why managers pay efficiency wages: Avoiding shirking: If it is difficult to measure the quantity or quality of a worker's effort – and systems of piece rates or commissions are impossible, there may be an incentive for the worker to "shirk" (do less work than agreed).

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