Wage Structure

Posted in Human Resources Terms, Total Reads: 5807

Definition: Wage Structure

Wages are paid to blue collared employees mostly on an hourly basis. Unlike salaries, wages don’t have a structure or components as they are primarily time based. If a worker misses work due to illness or goes on a vacation, he loses out on his wages for the time he’s missed.

But these workers are entitled to Overtime Pay over if the work overtime or on holidays/weekends. For example if a worker receives Rs.100 per hour on a normal workday(8 hours), for every additional hour he works beyond the 8 hours he could get Rs.150 per hour. Similarly he could get paid Rs.200 per hour for working on holidays and weekends.

Wages unlike salaries don’t have components for allowances and benefits as well.

Browse the definition and meaning of more terms similar to Wage Structure. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary

Share this Page on: