Annual Salary
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What is Annual Salary?
Annual salary is the amount paid as a regular monthly, quarterly, or annual amount, usually by an employer.
Your yearly salary is the amount of money your employer pays you for the work you do over the course of a year. The salary you get is based on a 40-hour workweek, but (if you’re on salary) your pay isn’t determined by the number of hours you work.
Annual salaries are necessary in order to provide employees with a consistent income throughout the year. This allows employees to budget their money and plan for their future. Additionally, annual salaries provide employees with a sense of security and stability.