It’s not your salary that makes you rich, it’s your spending habit.
When you talk to a potential employer at a job interview, one of the most important issues that comes up is the amount of money you will be making at your job. But did you know that there are several words commonly used to denote monetary compensation people receive to do a job?
Pay is the most general word and it refers to the total amount of money that a company pays for work or services performed, regardless of whether it’s paid to full-time, part-time employees, or a contractor. A pay check is a bank check given as salary or wages. Also, pay check is often used figuratively to denote the amount of money you made. For example, you could say: Even if you’re doing all you can to save money, you can stretch your pay check only so far. On the other hand, a wage (or more commonly referred to as wages) is a payment for labour or services to a worker, especially paid on an hourly or daily basis, or by the piece. In other words, if you hire workers to do a particular number of hours of work, or produce a number of items, then you pay them wages. Most often, wages are paid for manual labour, and not for professional services. It is also useful to know that minimum wage is the lowest wage payable to employees in general (so it includes wages and salaries), and it is determined by law or by union agreement.
The most common compensation for work is a salary, a fixed amount periodically paid to a person for regular work or services. Usually a salary is paid monthly, although in some cases it can be paid biweekly. Finally, in case you hire a professional to do some work or perform a service for you, they usually charge a fee.
