A salaried employee is a worker who is paid a fixed amount of money over a given period of time, generally a year, by their employer.
What is the Difference Between Salaried and Hourly Employees?
Salaried employees receive a fixed amount of money regardless of the number of work hours. Their workload varies on a daily or weekly basis; they may work less or have to work overtime depending on many conditions. They do not usually keep a timesheet.
Hourly employees have to keep a timesheet because their pay is based directly on the number of work hours. They are generally compensated for overtime. Thus, the salary of an hourly employee can vary during the year. They may still be expected to work a minimum number of hours.
What Are the Benefits of Being a Salaried Employee?
Common benefits of being a salaried employee include: