A salary is often paid on a regular basis, and its value is often fixed regardless of the quantity or quality of work completed. A salary is typically described as an annual sum in an employment contract that is signed by the newly hired employee. Sometimes a salary will come with other benefits, such products or services.
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Wages and salaries are significant, but a paycheck isn't the only financial advantage of working. Other benefits that are commonly provided to salaried workers and, to a lesser extent, wage earners include paid time off for holidays and vacations, bonuses, company discounts, healthcare insurance that is contributed by the employer, unemployment insurance, payroll taxes (which make up half of the Social Security and Medicare taxes in the United States) that are applied to old age and disability, and more. These perks are less common for part-time workers.
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