Hamza receives $61,000 a year as a manager. What is this type of compensation called?

Question

Quizplus · Accepted Answer

Hamza's compensation is called a salary, which is a fixed amount of money paid to an employee on a regular basis, usually annually or monthly. Bonuses, on the other hand, are additional payments given as a reward for good performance or as an incentive to achieve certain goals. Benefits refer to non-wage compensations such as health insurance, retirement plans, and vacation pay. Time wage is a type of compensation where an employee is paid a certain amount of money for each hour worked.

Hamza Receives $61,000 a Year as a Manager