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A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour, or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded on payroll accounts.

Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.

Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of people available to perform the specific job in the employer's employment locale.[1]

History

First paid salary

While there is no first pay stub for the first work-for-pay exchange, the first salaried work would have required a society advanced enough to have a barter system which allowed for the even exchange of goods or services between tradesmen. More significantly, it presupposes the existence of organized employers—perhaps a government or a religious body—that would facilitate work-for-hire exchanges on a regular enough basis to constitute salaried work. From this, most infer that the first salary would have been paid in a village or city during the Neolithic Revolution, sometime between 10,000 BC and 6,000 BC.[citation needed]

A cuneiform inscribed clay tablet dated about 3100 BC provides a record of the daily beer rations for workers in Mesopotamia. The beer is represented by an upright jar with a pointed base. The symbol for rations is a human head eating from a bowl. Round and semicircular impressions represent the measurements.[2]

By the time of the Hebrew Book of Ezra (550 to 450 BC), salt from a person was synonymous with drawing sustenance, taking pay, or being in that person's service. At that time, salt production was strictly controlled by the monarchy or ruling elite. Depending on the translation of Ezra 4:14,[3] the servants of King Artaxerxes I of Persia explain their loyalty variously as "because we are salted with the salt of the palace" or "because we have maintenance from the king" or "because we are responsible to the king".[citation needed]

Salarium

The Latin word salarium originally "salt money" (Lat. sal, salt), i.e., the sum paid to soldiers for salt.[4][5] ( The dictionary definition of salarium at Wiktionary) or the price of having soldiers conquer salt supplies and guard the Salt Roads (Via Salaria) that led to Rome.[6][7] But there is no evidence for this assertion at all.[8] Some people even claim that the word soldier itself comes from the Latin sal dare (to give salt),[9] but mainstream sources disagree, noting that the word soldier more likely derives from the gold solidus introduced by Diocletian in 301 AD.[10]

Roman empire and medieval and pre-industrial Europe

Regardless of the exact connection, the salarium paid to Roman soldiers has defined a form of work-for-hire ever since in the Western world, and gave rise to such expressions as "being worth one's salt".[citation needed]

Within the Roman Empire or (later) medieval and pre-industrial Europe and its [1]

While there is no first pay stub for the first work-for-pay exchange, the first salaried work would have required a society advanced enough to have a barter system which allowed for the even exchange of goods or services between tradesmen. More significantly, it presupposes the existence of organized employers—perhaps a government or a religious body—that would facilitate work-for-hire exchanges on a regular enough basis to constitute salaried work. From this, most infer that the first salary would have been paid in a village or city during the Neolithic Revolution, sometime between 10,000 BC and 6,000 BC.[citation needed]

A cuneiform inscribed clay tablet dated about 3100 BC provides a record of the daily beer rations for workers in Mesopotamia. The beer is represented by an upright jar with a pointed base. The symbol for rations is a human head eating from a bowl. Round and semicircular impressions represent the measurements.[2]

By the time of the Hebrew Book of Ezra (550 to 450 BC), salt from a person was synonymous with drawing sustenance, taking pay, or being in that person's service. At that time, salt production was strictly controlled by the monarchy or ruling elite. Depending on the translation of Ezra 4:14,[3] the servants of King Artaxerxes I of Persia explain their loyalty variously as "because we are salted with the salt of the palace" or "because we have maintenance from the king" or "because we are responsible to the king".[citation needed]

Salarium

The Latin word salarium originally "salt money" (Lat. sal, salt), i.e., the sum paid to soldiers for salt.[4][5] ( The dictionary definition of salarium at Wiktionary) or the price of having soldiers conquer salt supplies and guard the Salt Roads (Via Salaria) that led to Rome.[6][7] But there is no evidence for this assertion at all.[8] Some people even claim that the word soldier itself comes from the Latin sal dare (to give salt),[9] but mainstream sources disagree, noting that the word soldier more likely derives from the gold solidus introduced by Diocletian in 301 AD.[10]

Roman empire and medieval and pre-industrial Europe

Regardless of the exact connection, the salarium paid to Roman soldiers has defined a form of work-for-hire ever since in the Western world, and gave rise to such expressions as "being worth one's salt".[citation needed]

Within the cuneiform inscribed clay tablet dated about 3100 BC provides a record of the daily beer rations for workers in Mesopotamia. The beer is represented by an upright jar with a pointed base. The symbol for rations is a human head eating from a bowl. Round and semicircular impressions represent the measurements.[2]

By the time of the Hebrew Book of Ezra (550 to 450 BC), salt from a person was synonymous with drawing sustenance, taking pay, or being in that person's service. At that time, salt production was strictly controlled by the monarchy or ruling elite. Depending on the translation of Ezra 4:14,[3] the servants of King Artaxerxes I of Persia explain their loyalty variously as "because we are salted with the salt of the palace" or "because we have maintenance from the king" or "because we are responsible to the king".[citation needed]

The Latin word salarium originally "salt money" (Lat. sal, salt), i.e., the sum paid to soldiers for salt.[4][5] ( The dictionary definition of salarium at Wiktionary) or the price of having soldiers conquer salt supplies and guard the Salt Roads (Via Salaria) that led to Rome.[6][7] But there is no evidence for this assertion at all.[8] Some people even claim that the word soldier itself comes from the Latin sal dare (to give salt),[9] but mainstream sources disagree, noting that the word soldier more likely derives from the gold solidus introduced by Diocletian in 301 AD.[10]

Roman empire and medieval and pre-industrial Europe

In corpor

In corporations of this time, such as the several East India Companies, many managers would have been remunerated as owner-shareholders. 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.[citation needed]

Second Industrial Revolution