Salary Definition

"A Salary is considered as the periodic payment offered to an employee by the organization in which he or she is being employed."

Since the early medieval period, a salary has been provided to the person in return or exchange for a service; nowadays, the Salary is provided to the employee in the form of digital or physical currency, but earlier, the Salary or payment was provided in the form of exchange of services or goods like kinds of wheat, mallets, cattle or something else. After a few decades, physical currencies like coins (made up of gold, silver, and copper) were introduced, and now the employees were paid using this physical currency like gold, silver, and copper coins.

A salary is a definite or fixed amount of money that is provided to the employee in return for every single work that an employee does for his organization or company; the Salary is provided at different time intervals in different organizations; some employees are paid monthly, weekly, or daily wages.

In recent times, in the society in which we are living, everything is just dependent on the Salary of a person; Salary decides which type of lifestyle a person can opt for him, which car he can afford, and how much he can spend; these all factors are dependent on the Salary of a person.

Few Highly Paid Salary Jobs in India

Some of the highly paid salary jobs in India are as follows:

• Medical Professionals: In India, Medical Professionals like Doctors, Surgeons, and Physicians are highly paid worldwide because they have to practice operations using expensive materials and medicines; that's why their salaries are also very high.
• Data Scientists: In India, due to the growing trend of computer-related services, almost every sector is now dependent on them because it reduces the time and complexity of a task performed, specifically in the computer field, a Data Scientist is highly paid, and in the upcoming years we will witness spectacular growth in this field regarding both demand and Salary.
• IT Professionals: IT Professionals like Cyber and Cloud Engineer, Software Developer, and Big Data are also getting good packages or salaries, their demand is increasing day by day, and almost every organization needs a Security service to protect their data a Software Developer to manufacture a software as per the demand of the client or an organization, that's why they are getting a high salary compared to another profession.
• Commercial Pilots: In India, Commercial pilots get a high salary because they fly planes in private or commercial sectors free from the Government's bondage, which is why they are highly paid in India.
• Chartered Accountant: A Chartered Accountant is a person who manages and organize the account of various big firms, agencies, and organization; Indian Government does not appoint them; rather than that, other private institutions hire them and pay Salary to them, and they among the highly paid job in India.
• Merchant Navy: Merchant Navy is a type of Government as well as a non-Governmental marine unit that transport goods and services from one nation to another; moreover, their Salary is also tax-free, and some other types of relaxations are also provided to them; they are among the highest paid jobs in India.
• Civil Services: In the entire list of highly paid jobs, Civil Services is India's only governmental designation and job. The Government officially provides them with a great salary for their duty.
• Editors: In India nowadays, when everyone is amazed by the magic of editing, there is a great demand for such types of things, and people are learning skills because of its growing demand in today's era; moreover, it is one among the highly paid salary jobs in India, the person who is adept in editing skills can easily do freelancing to get some extra money.

Difference Between Salary Packages and Salary

Whenever a person is employed in an organization, they must discuss the salary and salary packages. Now, the question is, what is a salary package, and what is the difference between them?

A salary is considered the base starting Salary that an employer gives to their employee in the form of physical or digital currency.

A salary package includes a base salary, incentives, sick leave, rewards, travel allowance, car allowance, and further bonuses and compensations.

Many organizations and companies provide high salaries and high salary packages to their employees, which motivates them to do more drudge so that they can get more and more incentives and bonuses along with promotions.

Advantages of Salary Pay?

There are countless advantages of Salary pay for both employers and employees. Because Salary is an employee's main motivation, it generates a zest among employees to work dedicatedly for their organization and company.

Consistent Payroll

In Consistent Payroll, the employer gives the Salary along with other incentives on a fixed date every month to its employee, which make consistency. This Payroll does not depend on the performance, tasks, projects accomplished, sick leaves, or holidays; their Salary is independent of these parameters. Employees get a fixed monthly salary that helps them cope with unusual or sudden expenses. In India, this type of Payroll (Consistent Payroll) is generally seen in the Government department, which doesn't bother about any task, project, performance, holidays, or sick leaves. This generates zest among the Indian youth to get Government jobs, and for this, they make sleepless efforts and put all their efforts into getting jobs.

How Compensation Reflects Responsibility

If we analyze the productivity level of a salaried employee and an hourly wage worker such as a freelancer, the productivity of a salaried employee is much more than an hourly wage worker. In an organization, it is very often and obvious that sometimes an employee has to work other than normal office hours or we can say that an employee has to work non traditionally, for this the employer pays some extra money other than Salary to his employee, this enhances the productivity level of an employee, and hence the employer is getting a good talent and an employee, which is giving that productivity to their organization.

Additional Benefits

A full-time salaried employee usually gets additional benefits such as a good health care facility, good schooling for their children, expensive vacations, and maternity and paternity leave. Nowadays, almost every company and organization are providing good additional benefits to their employee so that they can attract more and more talent towards them because these type of benefits and incentives give a sense of security to the employee that if he needs medical assistance, then his company or organization is standing along with him if suddenly he needs urgent leaves then his company or organization is trusting him and helping him in every possible way.

Conclusion

The bottom line of the above passage or article is that from ancient times this legacy continued today to give a salary for every single work. In ancient times, people gave some grains, millet, wheat, flour, cattle, goat, or sometimes pieces of land for some specific work. Physical currency like coins and notes were not introduced at that time. Still, after a few decades, when these physical currencies were introduced, then people started using them for conducting any business activity in which they had to pay the employee for using his service; after a few centuries, when the digital currency was started, then almost every big firm, organization, and group started sending money directly in their bank accounts through digital means.

Nowadays, the salary scenario has changed completely, and now the employer has to pay the employee for every single second of work based on their per-hour wages. Also, the system of salary packages has been introduced by employers in which they have to give some additional benefits to the employee, like medical facilities, traveling incentives, car allowance, sick leaves, holiday packages, and paternal and maternal leaves. All these allowances and incentives motivate the employee to put the best out of him or his company, firm, or organization.

This generates healthy competition among youth to be placed in reputed firms and companies for good salaries and salary packages. This also helps the employer because he is getting the best employee.