Glossary

Glossary

financial terms explained

Salary

The word salary is derived from the Latin word for salt, and reflects the fact that Roman soldiers were sometimes paid with salt. It has come to mean the same thing as your wages.

Nowadays, your salary is the money your employers pay your for doing your job, also known as your gross income. After deductions from your salary such as taxes, you will be left with your net income, so your ‘take-home’ pay is technically not the same thing as your salary.