Salary refers to a fixed, regular compensation paid to an employee by their employer in exchange for their work or services. It is typically expressed as an annual or monthly amount and is often predetermined based on the employee's job role, experience, and the organization's compensation structure. Salaries are usually paid on a consistent schedule, such as bi-weekly or monthly, and are not directly tied to the number of hours worked.
An experienced software engineer at XYZ Corporation earns an annual salary of $80,000. This means that regardless of the number of hours worked each week, the software engineer will receive a consistent payment of $80,000 over the course of a year, divided into regular monthly paychecks.