MONTHLY WAGE Meaning and
Definition
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Monthly wage refers to the specific amount of money that is regularly earned by an individual for their work or services rendered over a fixed period of one month. It is a fixed salary or compensation that is commonly structured on a monthly basis and paid out by an employer to an employee. The monthly wage is often negotiated and agreed upon before commencing employment or as part of a formal employment contract.
This compensation package, typically expressed in local currency, is encompassing of the total income that an employee receives in a month, inclusive of base salary, wages, bonuses, commissions, and any additional remuneration for services performed during that period. The monthly wage is usually predetermined and remains consistent for the duration of the employment contract, though it can be subject to changes negotiated between the employer and employee based on performance assessments, promotions, or other terms agreed upon.
Monthly wage is a vital component for individuals to manage their personal finances, as it ensures a regular and predictable income stream. It serves as a benchmark against which employees may plan and allocate their earnings towards expenses, savings, and investments. Additionally, it assists employers in determining the cost of labor, budgeting for operational expenses, and complying with legal and regulatory requirements related to labor compensation.
Common Misspellings for MONTHLY WAGE
- nonthly wage
- konthly wage
- jonthly wage
- minthly wage
- mknthly wage
- mlnthly wage
- mpnthly wage
- m0nthly wage
- m9nthly wage
- mobthly wage
- momthly wage
- mojthly wage
- mohthly wage
- monrhly wage
- monfhly wage
- monghly wage
- monyhly wage
- mon6hly wage
- mon5hly wage
- montgly wage
Etymology of MONTHLY WAGE
The etymology of the word "monthly wage" comes from the combination of two different origins.
1) Monthly: The word "monthly" originated from the Middle English word "monthlie" (pronounced muntli), which was derived from the Old English word "monitlīce". The Old English term "mona" meant "moon", and "monitlīce" referred to actions or events that occurred or were carried out in the span of a month.
2) Wage: The word "wage" has an older origin and comes from the Old English word "wæge" or "wæg", which meant "a payment, pledge, or security". It derived from the West Germanic word "wega", signifying a unit of weight.
