GENERAL KNOWLEDGE

Detailed explanation-1: -Wages are fixed on an hourly basis and an individual’s earnings will be variable, depending on their work hours. Salary is usually associated with skilled labour, while wages are paid for unskilled and semi-skilled labour. Salary pay-out typically happens on a weekly, bi-weekly or monthly basis.

Detailed explanation-2: -Hourly employees are paid at a set hourly rate which is multiplied by the hours worked during a pay period. For example, if an employee’s hourly rate is $15 and they worked 20 hours during a pay period, you would multiply $15 by 20 to get a total wage of $300 for their paycheck.

Detailed explanation-3: -A salary is the total fixed amount of money paid to an employee over a given period of time, generally a year. In contrast, the hourly wage is the amount of money paid to an employee for every hour of work performed.

Detailed explanation-4: -Wages are a form of monetary compensation for employees. They are paid according to the amount of time worked by the employee.