Wages & Salaries Commission Hourly rate Overtime Wage Slips

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Presentation transcript:

Wages & Salaries Commission Hourly rate Overtime Wage Slips Wages / Salary : How much a person is paid to do a job. Can be measured weekly, monthly or annually. Commission Money earned based on how much you sell. Usually expressed as a percentage. Hourly rate : How much you get paid for an hour’s work. Adam is a joiner his hourly rate of pay is £10.50. He works 40 hours a week. What is his basic pay? Liam sells double glazing. He is paid a commission of 15% on any windows he sells. Last month he sold £ 30 000 worth of windows. How much commission was he paid ? £10.50 x 40 = £420.00 15 ÷ 100 x £30 000 = £ 4500 Commission Hourly rate Wages & Salaries Overtime Extra work above your basic hours. Double time (x2) Time and a half (x1.5) Wage Slips Sean the painter works for £6.00 per hour. His overtime rate is “Double time”. What does he get paid for 4 hours overtime. 4 x 2 x £6 = £48