THE LARGE NUMBER OF WAGE

Salary is the remuneration in money or its equivalent paid by the employer to the employee based on the position that he holds and the services it provides. Direct salary is exclusively one received as consideration for the service in the busy office. In the case of employees working part-time, is the number of effective hours worked per month.

  The resulting indirect wage clauses is the collective labor agreement and plan of social services and benefits offered by the organization. Includes bonuses, prizes, commissions, tips, additional profit sharing, overtime, etc.. The sum of direct and indirect wages are compensation. Pay is salary is gender and species.
  The nominal wage is the amount of money allocated in individual contract for the position held. In inflationary economy, the nominal wage suffer erosion if not updated regularly. The real wage is the amount of goods that the employee can buy with that amount of money and corresponds to purchasing power. Replacement alone does not mean real wage wage increase: the nominal wage is altered to provide equivalent real wage in the previous period. From this comes the distinction between wage adjustment (real wage replacement) and increased wages (real wage growth).

According to its complexity salary can be considered in different ways:

It is paying a working

It is a measure of the value of an individual in an organization

Locate a person in a status hierarchy within the organization

The salary for people

In exchange for a wage (interchangeable symbolic element: money) man is able to engage much of yourself, your effort and your life. The salary is the source of income that defines the pattern of life for each person depending on their purchasing power.

The salary for organizations

Wages are both a cost and an investment. Cost, because wages are reflected in the cost of the final product or service. Investment because money represents application by a factor of production (labor) as an attempt to get a higher return.

Wage compound

There is a lot of internal (organizational) and external (environmental) factors that determine wages determining their values. The set of external and internal factors is composite wage (wage mix). The factors are:

-Types of positions in the organization

-Wage policy of the organization

-Financial capacity and overall performance of the company

-Labor market situation

-Economic conditions (inflation, recession, cost of living)

-Unions and collective bargaining