Do you earn a salary or wages or something else?

In My Humble Opinion
1

It seems that there are at least seven types of “earned” income:

  1. Salary (based on an annual number)
  2. Wages (based on an hourly number)
  3. Various types of bonus
  4. Billable hours
  5. Fee for service
  6. Commission income
  7. Income from self-employment

I realize that there can be overlap among the types that I’ve listed.

Also, there’s:
8. Income from investments (passive income)
9. Income from managed properties
10. Income from the sale of property
11. Income from trading securities

And:
12. Scholarships and grants
13. Pension income
14. Government assistance
15. Alimony and child support

I’m sure that there are some types of income that I’ve missed. And, of course, there’s “no income” …

So, what type of income do you receive?

FWIW, I receive a salary, bonus, and commission income.

2

5 Fee for service

3

Wages.

It isn’t entirely uncommon for top wage earners at my place of employment to beat out their salaried superiors based on shift differentials and overtime. Generally in that case it is wage-earning lower management trumping salaried middle-management.

  • Tamerlane
4

You’ve left out the best one!

Royalties!

There’s nothing like getting paid over and over again for work that you did a long time ago.

Me, I get a salary and a bonus. But I’d love to get royalties.

5

That’s some first-class ignorance-fighting. I had no clue there was a distinction between salary and wages.

I get a monthly salary.

6

Salary + Fee-for-service

7

I am a salaried employee. I’m expected to work overtime when necessary for no additional pay. Compensatory time (hour for hour) but no extra money.

8

I just get a salary. When I’ve been here five years I’ll get an annual longevity bonus.

When I consider “salary”, however, I have to remind myself to also consider the value of my benefits.

9

I earned wages until this week, when I got promoted. Now I earn salary. Woot!

10

For me, 1 and 9. You forgot workers comp…that’s Ivylad.

11

Currently, 4 Billable hours. In this year I’ve also earned 1 Salary, 3 Bonus (annual), X Severance Pay, and XX Unemployment Compensation. Stupid layoffs.

12

Income from self-employment (celebrating two years in business this month).

13

1, plus minimal 7

14

I was salary until a month ago, but there was a messy and expensive unpaid overtime setlement in a different department, and we’ve been converted to hourly.

So, this year, my income was

Salary
Hourly
Lump-sum retroactive overtime

Next year, will be just salary, although, there’s a stock option that will vest. If the stock price remains close to what it is now, I’ll just sit on it as it’s not worth the effort presently.

15

Wages myself.

What’s the category for somebody that’s living off another person’s income? How about gambling? Or theft? All are sources of income for some people.

16

I’m on salary. No significant overtime to speak of, no real bonus structure of any sort (save yearly Christmas bonuses and the occasional sales contest, despite the fact that we’re not really sales) I prefer it to wages. Any days off I take for personal or sick time is paid, and my paycheck is always the same so it’s easy to budget.

17

I receive a salary. We also get retirement benefits based on a % of our salary and what age bracket we’re in. At 35 I started receiving retirement contributions of 10% of salary.

I haven’t had to do much overtime yet but I can foresee some as our project progresses. They don’t keep formal track of comp time, and there’s something of an honor system about using vacation time. We get 22 days but we don’t have to formally request it. Sick time isn’t tracked at all, unless it becomes a problem.

In a previous position here, I received wages (was non-exempt) until they did a sweeping job audit project and decided I should be exempt (salaried).

18

  1. Salary (based on an annual number)

  2. Various types of bonus - performance bonuses in the form of stocks and stock options

  3. Income from investments (passive income)

  4. Income from trading securities

19

I earn a wage.

20

I’m on an annual salary.