The concept of a basic rate of pay for a particular form of work, paid regardless of the circumstances of the individual employee or employer. The rate for the job may be expressed as an hourly or weekly rate of pay or an annual salary paid to a particular occupation or grade of employee. It has a strong connotation of fair payment and is often used by trade unions or workers to combat systems of variable or individualized pay which result in differential earnings for employees doing the same class of work. [See base pay and hourly rate.]
Subjects: Human Resource Management.