HR Glossary

Basic Salary

By October 21, 2019 No Comments

What is a Basic Salary?  Definition below:

”A basic salary refers to the amount an employee is paid, without including additions or reductions. In this case, additions may include overtime or bonuses. Reductions will include taxes, such as federal, medicare, and social security.

A basic salary can potentially have a range. For example, an employee’s contract may indicate that the pay will be increased by $1,000 every two months until this number reaches the highest limit on the range. The starting salary, in this case, is the base salary.

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