wage rate

wage rate definition - business

wage rate

The established pay for a defined period of work. For example, a local contractor pays $15 per hour. Wage rate is generally stated on a pretax basis and is exclusive of any benefits such as employer-paid insurance.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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