Glossary Term: Compensation and Wage

Base Wage Rate

Definition: The base wage rate is a term that refers to the primary compensation an employee receives in exchange for their labor. Specifically, it is

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Bonus Hours

Definition: Bonus hours are additional hours added to an employee’s accumulated paid time off (PTO) as a form of reward or incentive. This practice serves

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Deferred Compensation

Definition: Deferred compensation is a portion of an employee’s income set aside to be paid out later, typically as part of a long-term financial or

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Median Wage

Definition: The median wage is the wage at the midpoint in a list of wages for an occupation, where half of the workers earn more

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