Salary in the context of "Religious institution"

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⭐ Core Definition: Salary

A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts.

A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.

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Salary in the context of Working class

The working class refers to a group of people in a social hierarchy, typically defined by earning wages or salaries through their ability to work. Members of the working class rely primarily upon earnings from wage labour. Most common definitions of "working class" in use in the United States limit its membership to workers who hold blue-collar and pink-collar jobs, or whose income is insufficiently high to place them in the middle class, or both. However, socialists define "working class" to include all workers who fall into the category of requiring income from wage labour to subsist; thus, this definition can include almost all of the working population of industrialized economies.

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Salary in the context of Army of the classical Ottoman Empire

The Ottoman army was the military structure established by Mehmed II (r. 1451–1481) during his reorganization of the Ottoman state and its military. It resulted from a major reorganization of the standing army dating from the time of Sultan Orhan (r. 1323/4–1362), which had centred on janissaries who were paid by salary rather than rewarded with booty or fiefs. The army built by Orhan had operated during the period of the rise of the Ottoman Empire (1299 to 1453).

The organization introduced by Mehmed II was twofold, central (Ottoman Turkish: Kapıkulu, the household division) and peripheral (Ottoman Turkish: Eyalet, province-level). Sultan Mahmud II forced this army to disband on 15 June 1826 in what is known as Auspicious Incident, which followed a century-long reform effort.

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Salary in the context of Employment

Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by employment laws, organization or legal contracts.

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Salary in the context of Average wage

The national average salary (or national average wage) is the mean salary for the working population of a nation. It is calculated by summing all the annual salaries of all persons in work (surveyed) and dividing the total by the number of workers (surveyed). It is not the same as the Gross domestic product (GDP) per capita, which is calculated by dividing the GDP by the total population of a country, including the unemployed and those not in the workforce (e.g. retired people, children, students, etc.). It can be useful in understanding economic conditions, and to employers and employees in negotiating salaries. The national median salary is usually significantly less than the national average salary because the distribution of workers by salary is skewed.

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Salary in the context of Religious organization

Religious activities generally need some infrastructure to be conducted. For this reason, there generally exist religion-supporting organizations, which are some form of organization that manages:

In addition, such organizations usually have other responsibilities, such as the formation, nomination or appointment of religious leaders, the establishment of a corpus of doctrine, the disciplining of leaders and followers with respect to religious law, and the determination of qualification for membership.

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Salary in the context of Indentured servitude

Indentured servitude is a form of labor in which a person is contracted to work without salary for a specific number of years. The contract, called an "indenture", may be entered voluntarily for a prepaid lump sum, as payment for some good or service (e.g. travel), purported eventual compensation, or debt repayment. An indenture may also be imposed involuntarily as a judicial punishment. The practice has been compared to the similar institution of slavery, although there are differences.

Historically, in an apprenticeship, an apprentice worked with no pay for a master tradesman to learn a trade. This was often for a fixed length of time, usually seven years or less. Apprenticeship was not the same as indentureship, although many apprentices were tricked into falling into debt and thus having to indenture themselves for years more to pay off such sums.

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Salary in the context of Wage

A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as minimum wage, prevailing wage, and yearly bonuses, and remunerative payments such as prizes and tip payouts. Wages are part of the expenses that are involved in running a business. It is an obligation to the employee regardless of the profitability of the company.

Payment by wage contrasts with salaried work, in which the employer pays an arranged amount at steady intervals (such as a week or month) 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. Since wage labour is the predominant form of work, the term "wage" sometimes refers to all forms (or all monetary forms) of employee compensation.

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Salary in the context of Wage labour

Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract. These transactions usually occur in a labour market where wages or salaries are market-determined.

In exchange for the money paid as wages (usual for short-term work-contracts) or salaries (in permanent employment contracts), the work product generally becomes the undifferentiated property of the employer. A wage labourer is a person whose primary means of income is from the selling of their labour in this way.

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