Fixed Pay
/ˈfɪkst peɪ/
Definitions
- (n.) A predetermined amount of remuneration paid to an employee regardless of hours worked or performance.
The employee's fixed pay is stipulated in the contract as $50,000 per year.
Forms
- fixed pay
Related terms
See also
Commentary
Fixed pay is often distinguished from variable or incentive pay to clarify contractual remuneration obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.