Salary
A salary is the amount of pay for an entire year of work. It’s usually agreed in a job interview between a company and employee and paid in increments throughout the year. Employers usually pay salaries monthly, bi-monthly or weekly. For example, a salary for a geologist might be $124,788 per year. If the employer pays their salary monthly, the geologist is paid 1/12th of their salary every month. This means a geologist will receive a paycheck of $10,399 each month.
A salary is a fixed rate and won’t vary from month to month. When searching for jobs, if the amount of pay is for an annual sum per year, it’s likely to be a salaried position. As salaries cover an entire year, they also include holidays. Salary employees have a set number of paid holiday and sick days to take throughout the year while still earning the consistent increment payment.