A wage is monetary compensation paid by an employer to an employee in exchange for work done. Payment may be calculated as a fixed amount for each task completed , or at an hourly or daily rate , or based on an easily measured quantity of work done.
Payment by wage contrasts with salaried work, in which the employer pays an arranged amount at steady intervals regardless of hours worked, with commission which conditions pay on individual performance, and with compensation based on the performance of the company as a whole. Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of compensation.
