What is the fundamental distinction between salary and benefits?
Answer
Salary is the direct, fixed payment for work, whereas benefits are non-wage compensation.
Salary is defined as the direct, fixed payment for work performed, while benefits are the non-wage compensation provided in addition to that pay.
Related Questions
What is the fundamental distinction between salary and benefits?What is base salary often referred to as in compensation discussions?Which item is listed as a legally mandated employer contribution in the United States?What is the primary purpose of voluntary benefits offered by an employer?How are salary and benefit costs treated from an accounting perspective?How does the IRS typically treat salary in contrast to qualified benefits regarding taxation?When creating a Total Rewards statement, which component serves as the foundational figure?What primary function do benefits serve that is distinct from the function of salary?If an employee chooses a $5,000 salary increase instead of an equivalent week of paid vacation, how is that $5,000 generally treated for tax purposes?What do employee benefits serve to supplement?When negotiating a starting offer, which specific component is the employee primarily negotiating?