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wage

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wage

Pay given to labour. The pay of manual workers is usually called wages, compared to salaries paid to nonmanual workers. The basic wage of a worker is the wage received for working a normal week. On top of the basic wage, the worker may receive overtime pay and other bonus payments. The basic wage plus these extra payments is called the worker's earnings. The wage rate is the wage over a period of time, such as an hour or week.

For example, a worker may be on £5 an hour for a basic working week of 40 hours. Thus, his or her weekly pay is £200. If he or she works four hours of overtime at time and a half, the total earnings in the wage packet for the week would be £230. The equilibrium wage for a group of workers in a free market is fixed by the forces of demand and supply.



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? Mentioned in ? References in classic literature
 
It has converted the physician, the lawyer, the priest, the poet, the man of science, into its paid wage labourers.
The Communist Manifesto by Marx, Karl & Engles, Frederick View in context
Your enemy shall ye seek; your war shall ye wage, and for the sake of your thoughts
Thus Spake Zarathustra: A Book For All And None by Nietzsche, Friedrich View in context
But what all England did not know De Vac had gleaned from scraps of conversation dropped in the armory: that Henry was even now negotiating with the leaders of foreign mercenaries, and with Louis IX of France, for a sufficient force of knights and menat-arms to wage a relentless war upon his own barons that he might effectively put a stop to all future interference by them with the royal prerogative of the Plantagenets to misrule England.
The Outlaw of Torn by Burroughs, Edgar Rice View in context
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