Pay: meaning, definitions and examples

Used in everyday situations when giving money in exchange for goods or services.

• I need to pay the bill at the restaurant.
• He paid for his groceries with cash.

Often used when finalizing or resolving a financial transaction or debt.

• I need to settle my account before leaving the hotel.
• They settled the dispute by agreeing on a payment.

Used in formal or business contexts to refer to providing money or other benefits in recognition of loss, suffering, or services.

• The company will compensate you for any damages.
• They compensated the worker for his long hours.

Used in a formal context to describe the act of paying someone for work they have done, often used in legal or business documents.

• Employees should be remunerated fairly for their work.
• He was remunerated for his consultancy services.

General term for the money received for work done in various job categories.

• Her pay is deposited directly into her bank account every two weeks

Specifically refers to a fixed regular payment, typically paid monthly or biweekly, often expressed as an annual amount. It is commonly used for professional or office jobs.

• She receives an annual salary of $60,000 for her role as a project manager

Typically refers to hourly or daily payment for labor or services, and is often associated with manual or unskilled work. Wages can vary greatly based on the amount of work completed.

• He earns a wage of $15 per hour working at the factory

Often used in a more formal or technical context to describe the overall payment and benefits received by an employee, which may include salary, bonuses, and other perks.

• The compensation package includes health insurance, a retirement plan, and annual bonuses