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Salary
(redirected from Gross pay)

   Also found in: Financial, Wikipedia, Hutchinson 0.03 sec.

SALARY. A reward or recompense for services performed.
     2. It is usually applied to the reward paid to a public officer for the performance of his official duties.
     3. The salary of the president of the United States is twenty-five thousand dollars per annum; Act of l8th Feb. 1793; and the constitution, art. 2, s. 1, provides that the compensation of the president shall not be increased or diminished, during the time for which he shall have been elected.
     4. Salary is also applied to the reward paid for the performance of other services; but if it be not fixed for each year, it is called honorarium. Poth. Pand. h.t. According to M. Duvergier, the distinction between honorarium and salary is this. By the former is understood the reward given to the most elevated professions for services performed; and by the latter the price of hiring of domestic servants and workmen. 19 Toull. n. 268, p. 292, note.
     5. There is this difference between salary and price; the former is the reward paid for services, or for the hire of things; the latter is the consideration paid for a thing sold. Lec. Elem. Sec. 907, 908.


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Fifteen of the 17 firefighters earned more in overtime pay than their base salaries, and two made more than $175,000 in OT that bumped their gross pay to more than $268,000 - about $5,000 more than their boss, Chief William Bamattre.
For example, if your gross pay is $10,000 a month, but after taxes your net equals $7,000, you'll need a disability insurance policy that provides about $5,000 a month.
The resources section offers access to calculators that can help determine net and gross pay or the future value of 401 (k) contributions.
 
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