COMMISSIONS and SALARY AND WAGE

Straight Commission

- expressed in percent is fixed for all the sales or collection of money a worker makes.

Commission

- a form of paying workers through sales of merchandise or collection of money for another person or agency

Graduated Commission

The rate or percent of commission increases as the quantity or volume of sales or collection increases

Salary Plus Commission

give fixed or basic salary to their workers whether or not they make sale or are able to collect money in addition to commission.

Salary Plus Override Commission

earns commission from his sales and an extra commission from the sales of his salesmen

Override

This commission he earns from the sales of his salesmen is called

Salary Plus Bonus

Businesses involved in sales or collection of money pay their workers a fixed salary and an additional incentive

Bonus

an additional income to the workers if they reach or exceed their sales or collection target or quota.

Salary

a fixed compensation usually quoted annually or monthly for an employee.

Wage

the compensation usually quoted in an hourly or daily rate for an employee.

Wage

earners usually get paid either weekly or sometimes even monthly at their employer’s

convenience. They are under the “no work, no pay policy