Salary

Salary is a form of regular payment in an employment contract.

While 'wage' and 'salary' are often used interchangeably, 'salary' refers in particular to monthly payment associated with a particular employment position. A manager or someone else with a high-up position would be more likely to draw a salary. A labourer would take wages by the day or by the week, depending on the hours worked.

Etymology

'Salary' derives from the Latin words sal meaning salt and salarium, a payment made in salt. In medieval times salt was a valuable barter commodity. (also the proverb 'to be worth one's salt').