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What are the three methods an employer may use to pay her employees?
Wiki User
∙ 13y ago
Three methods employers use to compensate employees include salary, hourly wage and commission. The method you select depends largely on the nature of each job position. For example, commission is the typical payment method in sales positions while salary is typical in management positions. All methods have pros and cons, for example, salary is straightforward and not left to interpretation while hourly wages benefit employees who work many hours but are often subject to laws that may adversely affect employers.
SalarySalary is the primary payment method for management and other higher-level employees. Salary is an annual total, not based upon the amount of time worked or productivity. Depending on the employer's payment schedule, the salary is divided into equal payments each pay period. Taxes and other benefits deductions are taken out of this total. Any other pay, such as overtime, commissions or bonuses are separate from salary. Paid days off for salaried employment are not deducted from any paychecks.
HourlyHourly wages are payment for each hour worked. Federal and state laws govern the minimum hourly wage amount and the employer cannot pay a wage lower than this amount, minus a few exemptions. Additionally, any overtime earned is subject to state and Federal Laws. The Contract Work Hours and Safety Standards Act applies to federal workers and contractors and mandates that hourly employees must receive 1.5 times his base pay for any hours worked beyond 40 in a work week. Many states and private employers have also adapted this provision into law or practice. Time off for vacation, illness or other circumstances is typically unpaid.
CommissionCommission is an amount of money paid upon achievement of a sale or goal. It is typically a fixed percentage of the cost of goods sold or the value of a contracted service. The actual amount of commission depends upon quantity and value of sales and can vary greatly from payment to payment. Commission may be paid as a supplement or in lieu of salary. Commissions are not required by the federal government's Fair Labor Standards Act but are considered taxable employee wages.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoThe question is very ambiguous; if this doesn't seem like the answer you were looking for, ask the question again with more details about what you mean.
The three typical ways of paying employees are
- wages - the employee is paid a set amount per hour worked
- piecework - the employee is paid a set amount for completing a "piece" (an object like a shirt, or bracelet, or some other tangible good) to acceptable standards, regardless of how long it takes to complete
- salary - the employee is paid a set amount per month/year regardless of the number of actual hours worked (it's typically expected that salaried employees will work a MINIMUM of 40 hours per week, and at many places the expectation is closer to 50; there are laws about who can be a salaried employee to prevent employers taking advantage of this to avoid paying legally mandated overtime)
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∙ 13y agocash
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