wage(s)
wage(s)Payment for work performed as an employee. Wages and salaries were once distinguished: wages were paid weekly, or more frequently for casual work, in cash, while salaries were paid monthly into bank accounts. In recent years the growth of payments of wages by cheque has blurred the distinction, and wages and salaries are best regarded as a single total. Payments for work performed by the self-employed as independent contractors are not classed as wages. See also efficiency wage, flexible wages, minimum wage, money wages, real wages, sticky wages, and subsistence wages.
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