Salaries are classified according to:
The means used for payment
- Salary in currency: It is paid in legal tender, that is, the one paid in money. Salary in kind. It is the one that is paid in products, services, room, etc. Mixed salary. It is the one that pays a part in currency and another in kind.
Your purchasing power
- Nominal Salary. Represents the volume of money allocated in an individual contract for the position held. In an inflationary economy, if the nominal wage is not periodically updated, it suffers erosion (it cannot support all the needs of the worker). Real salary.It represents the quantity of goods that the employee can acquire with that volume of money and corresponds to the purchasing power, that is, the purchasing power or the quantity of products or services that he can acquire with the salary. Thus, the mere replacement of the real value does not mean a salary increase: "The nominal salary is altered to provide an equivalent real salary in the previous one", hence the distinction between salary readjustment (real salary replacement) and the real increase of the wage (growth of the real wage).
Your satisfactory ability
- Individual: It is the one that is sufficient to satisfy the needs of the worker. Family: It is the one that requires the support of the worker's family.
Your limit
- Minimum wage. That sufficient to meet the normal needs of the worker's life consisting of: food, housing, clothing, transportation, welfare, culture and honest recreation. Maximum salary. It is the highest salary that allows companies to affordable production.
Who produces the work or receives the salary
- Personal salary. It is the one who produces who supports the family, usually the father. Collective salary. It is the one that occurs between several members of the family who without serious harm can collaborate to support it, such as: the father, the mother and the older brothers. Team. It is the one that is paid in bulk to a work group, being at the discretion of this team the distribution of wages among themselves.
Payment method
- By unit of time: It is the one that only takes into account the time in which the worker puts his labor force at the employer's disposal. Per unit of work.: It is when the work is computed according to the number of units produced.
