Salary is a pre-agreed amount of pay that an employee receives over a 12 month period. It is typically outlined in employment contracts and is also known as an annualised salary.

A salary is a fixed amount of money that an employee receives on a regular basis, usually monthly or fortnightly, which adds up to a specified total over the year. Unlike hourly wages, a salary is not directly tied to the number of hours worked, providing a consistent income regardless of work hours. This arrangement is often used for full-time positions and is agreed upon in the employment contract.

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