Types of financial rewards

Salary

An annual sum of compensation, typically paid in monthly installments, for doing a job.

Wages

A type of financial payment that rewards workers based on time or output.

Commission

A form of financial reward paid to workers each time they sell a good or service, typically paid as a percentage of the value of the good or service sold.

Performance-related pay

A financial rewards system used to pay people whose work reaches or exceeds a required standard or performance target.

Profit-related pay

A financial reward system for employees based on the extent to which staff meet profit targets within a predetermined time period. 

Employee share ownership schemes

A financial incentive that rewards employees with shares in the company they work for.

Fringe benefits 

Any type of remuneration awarded to employees in addition to their basic pay.