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What is the difference between wages and salaries?


Guest Indiana

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I found this, from where I come from I'm only familiar with salaries

The essential difference between a salary and wages is that a salaried person is paid a fixed amount per pay period and a wage earner is paid by the hour. Someone who is paid a salary is paid a fixed amount in each pay period, with the total of these fixed payments over a full year summing to the amount of the salary. This person is considered to be an exempt employee. There is no linkage between the amount paid and the number of hours worked. Someone receiving a salary is usually in a management or professional position.

https://www.accountingtools.com/articles/what-is-the-difference-between-salary-and-wages.html#targetText=The difference between salary and wages&targetText=The essential difference between a,is paid by the hour.

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