{"id":2707,"date":"2020-10-09T13:27:06","date_gmt":"2020-10-09T10:27:06","guid":{"rendered":"https:\/\/snov.io\/glossary\/?p=2707"},"modified":"2024-07-04T16:15:00","modified_gmt":"2024-07-04T13:15:00","slug":"base-salary","status":"publish","type":"post","link":"https:\/\/snov.io\/glossary\/base-salary\/","title":{"rendered":"Base salary"},"content":{"rendered":"\n

Whether you\u2019re an employer or an employee, it\u2019s critical to know all components of the compensation package<\/a> and calculate how much you or your workers will earn when agreeing to a job or negotiating a raise. And here\u2019s where the understanding of base salary can help. <\/p>\n\n\n\n

Base salary meaning<\/h2>\n\n\n\n

A base salary<\/strong>, or base pay<\/strong>, is the fixed compensation an employee receives, typically expressed hourly, monthly, or yearly. If a job pays $20 hourly, the yearly base salary is about $41,600 before deductions. This doesn’t include bonuses, overtime, or benefits, which can supplement an employee’s total compensation.<\/p>\n\n\n\n

If you apply for a job, the base salary is the sum of money that an employer offers you for specific tasks. Your job description can also include extra details about other financial components of your cost to company if you accept the offer. However, the base pay you are proposed remains consistent.<\/p>\n\n\n\n

It\u2019s most commonly expressed as an hourly rate, base monthly income, or annual base salary.<\/p>\n\n\n\n

Who receives base salary?<\/h2>\n\n\n\n

Now that we’re done with the base salary definition let\u2019s consider who receives it. Basic salary is paid to exempt or professional employees who are expected to work for a set number of hours per week (usually 35-40). Such workers usually are not required to track the number of hours they spent on work. And if they work overtime, salaried employees don\u2019t get paid for it.<\/p>\n\n\n\n

\"\"\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button>
Source: Remote<\/figcaption>
\n