wages and salaries

4. Wages are paid to the blue collar employees like daily
manual workers
- Are paid daily or weekly
- For work the value of which can be measured in money
Salary is paid to white collar
Employees like clerks, Executives and mangers
- Paid monthly
- Monetary value cannot be measured easily

5. Compensation
• Compensation includes wages, benefits, leave
facility, travel, house rent, privileges of rank and
non monetary awards and recognition

6. TYPES OF WAGES
• Minimum Wage
• Nominal Wage
• Real Wage
• Statutory wage
• Fair Wage
• Living Wage

7. OBJECTIVES OF SALARY ADMINISTRATION
• Ensure fair and right payment
• Attract efficient and good employees
• Retain present employees
• Balance payment and the work
• Increase morale and motivation
• Project good image of the company