salary

salary
A relatively dignified form of wages. Traditionally, salaried workers were paid monthly, often into a bank account, and were not eligible for overtime pay; ‘white-collar’ workers were generally paid in this way. This was contrasted with wages, which were paid weekly, in cash, to ‘blue-collar’ workers, who received overtime if they worked more than normal hours. In modern economies the spread of bank accounts, less frequent pay days, and bonuses has blurred the distinction between wages and salaries, which have essentially the same economic function.