Extra pay Meaning: Definition, Examples, and Translations
๐ฐ
extra pay
[หษkstrษ peษช ]
Definition
at work
Additional payment received for work done beyond regular working hours or duties.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| extra pay |
Used when referring to additional compensation beyond the regular salary. It can be for various reasons, such as working extra hours, achieving targets, or special assignments.
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| overtime pay |
Specifically used to describe payment for hours worked beyond the standard work schedule. This is often calculated at a higher rate, such as time and a half or double time.
|
| bonus pay |
Typically used in a professional or corporate setting to describe a reward given to employees for achieving certain targets, performance, or as a holiday gift. Usually, bonus pays are given as a one-time payment.
|
Examples of usage
- She received extra pay for working overtime on weekends.
- Teachers often receive extra pay for supervising extracurricular activities.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Work Culture
- Many companies offer extra pay for employees who work overtime, which is time worked beyond regular hours.
- In some industries, like entertainment, extra pay is often provided for additional roles or long hours during shooting.
- Holiday periods frequently come with higher pay rates as a reward for working during busy times when most people have time off.
Economic Impacts
- Extra pay can help stimulate the economy as it boosts disposable income, allowing employees to spend more.
- In many cases, seasonal work comes with extra pay, reflecting the increased demand for labor at certain times of the year.
- Bonuses or extra pay can incentivize employees to increase productivity, leading to better overall company performance.
Legislation
- Labor laws in various countries require that employees be compensated with extra pay when they work beyond a certain number of hours.
- Certain jobs have minimum wage laws that specify extra pay conditions for working odd hours or holidays.
- Union agreements often negotiate extra pay as part of their contracts to ensure fair compensation for workersโ efforts.
Psychological Aspects
- Receiving extra pay can significantly boost employee motivation and job satisfaction.
- Workers often feel more valued when they are compensated for going beyond their regular duties.
- Studies show that incentive programs, which include extra pay options, can lead to improved teamwork and performance.
Finance
- Extra pay can sometimes lead to higher personal savings rates as employees allocate bonuses towards future goals.
- Unexpected extra pay can provide a financial cushion, reducing stress during tough economic times.
- Budgeting becomes important to manage extra funds effectively, ensuring they contribute positively to financial security.
Origin of 'extra pay'
The term 'extra pay' originated in the early 20th century, as industrialization led to longer work hours and the need for compensation beyond the standard wages. It has since become a common practice in many industries to provide extra pay for additional work or responsibilities.