Applied Mathematic
(Preliminary General 1)
Salary, Wages
& Commission
Stage 6 - Year 11
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1
A salary is an agreed upon amount of pay
for the competent performance of specific tasks
Usually on an annual basis. (e.g. $76000 p.a.)
You may be expected to put in a minimum number of hours,
but also be available when extra work is needed.
The employer does not provide overtime pay
Teacher
Doctor
Judge
2
Pay is based on a per-hourly rate
The employer does provide overtime pay
A wage may vary from one pay period to the next.
Plumber
Maid
Builder
3
A fee which a salesperson would receive upon
completion of a sale
It is a motivational system of payment designed to
encourage sales staff to sell more
Usually a percentage of sales.
Car Salesman
Real Estate
Agent
4