Hourly Wage

Base Pay Rate
The base pay rate refers to an employee's standard hourly wage or regular rate of pay, on which overtime and other wage supplements are calculated.
Union Rate
Union rate is the standard hourly wage rate for a specific occupation or trade, established through collective bargaining. It is commonly the minimum rate that qualified individuals in the job can earn.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.