Wages
Definition: Compensation paid to employees based on an hourly rate multiplied by the number of hours worked. Hourly (non-exempt) employees are entitled to over…
ModerateBeginner
Compensation paid to employees based on an hourly rate multiplied by the number of hours worked. Hourly (non-exempt) employees are entitled to overtime pay for hours exceeding 40 per week under the Fair Labor Standards Act.
DurationShort-Term
Related Subjects
Components
- Straight TimeRegular hours rate
- OvertimeHours beyond 40 per week
Contrast
- SalaryFixed periodic pay vs. hourly pay