This includes certain leave entitlements and added job-specific perks. Salaried positions often provide greater job stability and security thanks to longer-term employment contracts. During busy seasons, hourly workers are often more willing to work those extra hours than salaried employees because they’re paid more when they work overtime. However, if the budget is strained, businesses can cut back on labor hours more easily with hourly employees.
Salaries refer to a fixed amount of money that is paid to an employee regardless of the number of hours worked each week, and wages typically refer to the amount of money paid for the number of hours worked in a given week. Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He is an expert in topics including banking, credit cards, investing, cryptocurrency, insurance, real estate, and business finance. He has professional experience as a bank manager and nearly a decade in corporate finance and accounting.
What Is the Difference Between Salary and Wage?
“We’re not asking to get paid what the men get paid. We’re asking to get paid the same percentage of revenue shared,” Plum said. In November 2022, two-time Las Vegas Aces champion Kelsey Plum appeared on The Residency Podcast and spoke on some of the misconceptions surrounding pay discrepancies between the WNBA and NBA, Just Women’s Sports reported. “Women’s sports rights fees have been undervalued for too long, so we have this enormous opportunity at a time where the media landscape is changing so much. We’re really excited to get out in the marketplace,” she said. The WNBA reported that the 2023 regular season reached its highest levels of unique viewership since 2008, reaching over 36 million unique viewers across all national networks. Attendance also saw a 16 percent increase compared to 2022, marking the highest rates since 2018.
As for employees who earn a wage, their employers must comply with rules and regulations regarding overtime pay for employees who work additional hours beyond standard working hours. This includes paying employees the appropriate overtime rates under the Fair Work Act wages vs salaries and the relevant awards or agreements. As an employer, you can vary the payment type based on each job position. For instance, if you own a renovation business, you may have a full-time account manager who earns a salary and construction workers who get paid hourly.
Salary vs. hourly wage: Everything you need to know
In a statement, the Labor Department said it’s confident the new standard can better withstand a legal challenge because it’s notably lower than than the 40th percentile benchmark set by the Obama administration. The new standard could be legally challenged by industry groups that have argued that excessively raising the standard exceeds Labor’s authority and adds heavy regulatory and financial burdens or compliance costs. On January 1, the threshold would rise further to $58,656, covering another 3 million workers. Devin Haney vs. Ryan Garcia pay-per-view is streamable on DAZN on Saturday, April 20, at 8 p.m. Clark’s new Indiana Fever teammate, Maya Caldwell, signed a one-year deal for the league minimum of $64,154 for her third season, Spotrac.com and HerHoopsStats.com reported. “I’m hoping that our league continues to grow and with as many people in here now covering this, I hope you continue to cover our league and bring exposure to us,” she said.