What does minimum annual salary mean on a job application

A base salary is the minimum amount you can expect to earn in exchange for your time or services . This is the amount earned before benefits, bonuses, or compensation is added. Base salaries are set at either an hourly rate or as weekly, monthly, or annual income.7 Kas 2019

The annual earnings for a full-time minimum-wage worker is $15,080 at the current federal minimum wage of $7.25. Full-time work means working 2,080 hours each year, which is 40 hours each week. However, many states have their own minimum wages, including 29 that are currently higher than the federal rate.

Base pay is the initial salary paid to an employee, not including any benefits, bonuses, or raises . It is the rate of compensation an employee receives in exchange for services. An employee’s base pay can be expressed as an hourly rate or weekly, monthly, or annual salary.