Base Wage Rate (Base Rate)
Definition:
A base wage rate is a fixed rate of compensation an employee receives from the employer in exchange for their services.
The base wage rate is the amount that an employee is paid for work that is agreed upon during the hiring process. It consists only of the employee's pay rate and hourly wage or salary. It is the income that an employee receives before taxes, benefits, deductions, bonuses, or other modifications are made.
Base wage doesn't include bonus pay, overtime pay, on-call pay, benefits, or deductions. Base wage rates can vary but may not be lower than the minimum wage rate.
Part of speech:
Noun
Synonyms:
Base Rate
Use in a sentence:
Base wage rate does not include benefits or bonuses.