What "salary" means in finance

A salary is a fixed compensation paid to an employee on a regular basis, usually monthly or bi-weekly, for their work in a particular job or position. It is typically negotiated and agreed upon between the employer and the employee prior to employment or during the annual performance review. A salary is often expressed as an annual sum, but it is paid out in regular intervals throughout the year. It may include additional benefits such as health insurance, retirement contributions, and paid time off.