Difference between Salary and Emoluments

Key Difference: Emoluments are essentially the benefit that one gets from working and being employed. It is the profit from employment. A salary is the payment, remuneration or emolument that one receives in return for work and/or services provided. It is paid periodically, i.e. over a specified interval of time, such as weekly, or more commonly, monthly.

Emoluments are essentially the benefit that one gets from working and being employed. It is the profit from employment. It is the compensation that one receives in return for services or work provided. The emoluments may or may not be monetary. Emoluments may be in the form of salary, fees and/or perquisites.

Hence, a salary is a type or part of emoluments. Other typical emoluments may include the prestige of the position, the corner office, office with a view, monetary benefits added on top of salary, such as incentives, allowances, bonuses, etc., as well as memberships, joint stock options, and so on.

A salary is the payment, remuneration or emolument that one receives in return for work and/or services provided. It is paid periodically, i.e. over a specified interval of time, such as weekly, or more commonly, monthly.

A salary is essentially a fixed amount of money or compensation paid to an employee by an employer in return for work performed. It may be termed as a salary of x amount per hour, x amount per month or an annul salary of x amount.

The salary is stipulated by the current market rates for people doing similar work in similar industries in the same region.   It may also be dependent on the qualifications of the employee and the amount that the company can or is willing to pay to hire and/or retain those qualifications.

Also the number of people that are capable of providing the same service or do the same kind of work also has an impact on the salary, for example, if a lot of people can do that job, then the salary would be lower as a number of those people would be vying for that single job, whereas, if there are a lot of jobs but not enough people to fill those jobs, then the company would be willing to pay a larger salary to fill that position.

 

Image Courtesy: risesmart.com

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