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Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. general rule for comparing periodic salaries to hourly wages is based on a standard 40 hour work week with 50 weeks per year (minus two weeks for vacation). (Example: $40,000/year periodic salary divided by 50 weeks equals $800/week.
âYour gross salary is the TOTAL amount of compensation that you receive from your employer. Depending on the type of job that you have, this can include any bonuses, commissions, profit sharing plans, retirement plans and overtime pay.It is not uncommon for employees to make the majority of their compensation from non-base payâ (http://www.ehow.com/info_8165672_base-gross-salary-same.html).ross Salary Scenario: Gross pay represents wages received. It includes the employeeâs base or basic salary and additional earnings and income. If the employee has worked overtime or been the recipient of an incentive bonus, the amounts will appear in his gross salary.