A wage is better because you get paid for how many hours you work, while, with a salary, you get a set amount of payment. An example of a job that gets a salary is a teacher. It doesn't matter how much homework they grade over weekends and vacations, they get the same amount of money.
What a "Salary" looks like:
$45,000 per year
What a "Wage" looks like:
$16.50 per hour
So basically, a Salary tells you how much you'll earn either in a month or a year.
While a wage tells you how much you'll earn in an hour (and a Day, too? Not sure on this).
in my view wages is paid to the labor directly involved in production either receives money hourly, monthly, or weekly. while salary is paid to the worker or staff related to administration and selling. wages becomes part of the product cost, while the salary treated as selling and administrative expense.
wages are what you get paid hourly for instance if you get paid like $6.00 per hour then if you work more then 40 hours in one week then you are entitled to overtime which is time and a half so after 40 hours you would then be making $9.00 per hour.
salary is when you get 40 hours a week 80 hours every two weeks and even if you worked 112 hours you would only get paid for the 80 and vise versa if you only worked 60 hours you would still get paid for 80. so in this case you may get like $24,000 a year right so your employer would take this amount and divide it by 26 pay periods in a year and then by 80 hours in a pay period and this is your pay per hour.
If you are given the choose between the two and you know that the job is very time consuming then it is more wiser to take an hourly pay then a salary pay. You will make up for everything with the Over time hours put in.
Good Luck and Have Fun...Enjoy Life
Salary is paid to "exempt" employees. These are people who do not have to account for the hours they put into the job; rather they are paid to get the job done. They still have to account for holidays, sick days and vacation days, just not the individual hours. Often they get bonuses or other incentives since these jobs are largely management, sales or project related. Wages are paid to "non-exempt" or "hourly" employees. These people account for their time on a time card or other record keeping system. Depending on the company, they may earn overtime for extra hours, or be expected to take time off to offset any late hours within the same time period. Usually the employee has to have worked a full 40 hour week to earn overtime. By the way, the employer does not have the right to amend a time card without employee permission/initial.
A Wage is, as mentioned, an amount paid per hour. A salary is a fixed amount of pay per week or month (usually paid semi-monthly). A yearly pay is known as an annual amount or annual pay. Minimum wage as of July 15, 2009, is $7.25 per hour. Salary is paid notwithstanding the amount of hours to usually Management employees.
He gets paid $10 per hour. (wage)
He gets paid $600 a week. (Salary)
He gets paid a salary of $4,500 per month.
His wages, with all the hours he works, totals an average pay of $4,500 a month.
His annual earnings are about $55,000 per year.
I earn six-figure income. The problem is that two of them are behind the decimal point!
Other forms of income include piecerate and daily pay (such as for a taxicab driver).
Unearned income are normally called benefits or pension benefits.
Wage is payment received by an employee in exchange for labor. It may be in goods or services or food during the labor and its improvement. As per the old custom, the wage is decided as per the hardship of the work, for example, a mason $100, a carpenter $110, a helper $60, a supervisor $80, or so. Besides, when once paid, the relationship of the worker and employer is over. But salary, is the form of money only, i.e., is paid or regular basis such a weekly, monthly along with related insurance plan and retirement benefits and it is fixed on the basis of category / nature of work.
A person can get different wages in the same month depending on the work he does but a person can get only one fixed salary for a month.
A person who earn wages has no fixed work whereas the person earning salary have a fixed post and a particular work schedule to do.
Wage is paid only on the basis of the work done, irrespective of provision of work by the employer or not, but what the worker has carried out, whereas salary is paid every interval of week or month based on the schedule of work entrusted and not the work carried out.
In terms of accounts, wages is direct expense and is included in trading account whereas salary is indirect expense and is included in profit and loss account.