wage

Vocabulary Word

Definition

'Wage' is the money you're paid for the work you do. It's often calculated per hour or day you work, but could also be based on the tasks or jobs you complete.

Examples in Different Contexts

For nonprofit organizations, wage discussions can reflect ethical considerations. An NGO director might explain, 'We strive for fair wages to support our staff's dedication to our cause.'

Practice Scenarios

Business

Scenario:

Our company is committed to rewarding employees for their hard work and we're looking at ways to improve compensation.

Response:

I suggest we review each role's wage to ensure it aligns with industry standards.

Academics

Scenario:

Research suggests many people are grappling with the economic strain of stagnant incomes. Let's delve deeper into it.

Response:

It's also important to consider how real wages have been impacted by inflation.