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Remuneration is the pay or other financial compensation provided in exchange for an employee's services performed (not to be confused with giving (away), or donating, or the act of providing to). [1] A number of complementary benefits in addition to pay are increasingly popular remuneration mechanisms.
Remuneration is a term often used to refer to total cash compensation or total compensation. As noted above, total rewards would include total compensation as well as intangible benefits such as culture, leadership, recognition, workplace flexibility, development and career opportunity.
Such a remuneration scheme is still common today in accounting, investment, and law firm partnerships where the leading professionals are equity partners, and do not technically receive a salary, but rather make a periodic "draw" against their share of annual earnings.
"For purposes of this chapter, the term “wages” means all remuneration (other than fees paid to a public official) for services performed by an employee for his employer, including the cash value of all remuneration (including benefits) paid in any medium other than cash;" In addition to requiring that the remuneration must be for "services ...
Remuneration. Deferred compensation; Executive compensation; Royalties; Salary; Wage; Employee benefits; Workers' compensation, to protect employees who have incurred work-related injuries; Financial compensation is often provided after service delivery failure in order to regain customer trust. [2]
In the national accounts, in accordance with the System of National Accounts, wages and salaries are the sum of remuneration paid to employees, including the values of any social contributions, income taxes, etc., payable to employees. For administrative convenience, or due to a legal requirement or some other reason all or a part of such ...
Wages adjusted for inflation in the US from 1964 to 2004 Unemployment compared to wages. Wage data (e.g. median wages) for different occupations in the US can be found from the US Department of Labor Bureau of Labor Statistics, [5] broken down into subgroups (e.g. marketing managers, financial managers, etc.) [6] by state, [7] metropolitan areas, [8] and gender.
In recent years increasing numbers of UK companies have used the tax and national insurance savings gained through the implementation of salary sacrifice benefits to fund the implementation of flexible benefits. In a salary sacrifice arrangement an employee gives up the right to part of the cash remuneration due under their contract of employment.