Definition of Base pay:
The most basic sum of money or hourly rate paid to an employee of a business in compensation for their work efforts or time spent on the job. An employees base pay is generally strictly financial in nature and does not take into account any other payments, benefits or expense allowances.
Base pay does not include all forms of compensation; for instance, shift differential pay, on-call pay, pay for special assignments and incentive-based pay are typically excluded from base pay. As a general rule, an employee's base pay is the minimum amount he should expect to receive during a specified pay period, excluding additional financial or tangible compensation that may increase the total pay above this level.
The base rate of pay for a job or activity, excluding additional payments such as overtime or bonuses.
Base pay is the initial salary paid to an employee, not including benefits, bonuses, or raises. It is the rate of compensation an employee receives in exchange for services. An employee's base pay can be expressed as an hourly rate or as a weekly, monthly, or annual salary.
How to use Base pay in a sentence?
- Annual pay calculations include the items not included in base bay calculations, namely benefits, bonuses, raises, and overtime.
- For decades the courts have thrown the book at cheapskate bosses who chisel workers out of legal overtime by cutting base pay this way… but now theyll have a new defense: Bush made me do it.
- Base pay is an employee's standard rate of pay—not including benefits, bonuses, raises, or other compensation.
- Base pay can be expressed as an hourly rate or as a weekly, monthly, or annual salary.
Meaning of Base pay & Base pay Definition