Minimum wage: Wage sufficient to sustain and preserve the efficiency of the worker and to provide him basic amenities.

Wage policy: Principles acting as guidelines for determining a wage structure.

Wage structure: Consists of various pay scales showing ranges of pay within each grade.

Wage rate: It is the amount of remuneration for a unit of time, excluding incentives, overtime pay etc.

Earnings: Total amount of remuneration received by an employee during a given period.

Salaries: Remuneration paid to the clerical and management personal employed on a monthly or yearly basis. However the distinction between wages and salaries need not be observed in actual usage. Both may mean remuneration paid to an employee for services rendered.

Incentives: Motivational devices used such as bonuses or commissions to encourage special work effort.

Wages: "Wages" means all remuneration (whether by way of salary, allowances, otherwise) expressed in terms of money or capable of being expressed which would, if the terms of employment, expressed or implied are fulfilled, be payable to person employed in respect of his employment or of work done in such " employment.

Compensation: It is what employees receive in exchange for their contribution to the organization.

360 degree feedback: Information is gathered from a variety of sources in this system, including subordinates who complete performance appraisals, then the results are summarized for the employee and necessary improvements are discussed.

Paired comparison: A method that compels raters to compare each employee with all other employees who are being rated in the same group.