Essay On Advantages And Disadvantages Of Salaried S

New managerial jobs lent themselves to salaried employment, in part because the effort and output of "office work" were hard to measure hourly or piecewise, and in part because they did not necessarily draw remuneration from share ownership.

As Japan rapidly industrialized in the 20th century, the idea of office work was novel enough that a new Japanese word (salaryman) was coined to describe those who performed it, as well as referencing their remuneration.

From 1870 to 1930, the Second Industrial Revolution gave rise to the modern business corporation powered by railroads, electricity and the telegraph and telephone.

This era saw the widespread emergence of a class of salaried executives and administrators who served the new, large-scale enterprises being created.

From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense.

In accounting, salaries are recorded on payroll accounts.

A salary is a form of payment from an employer to an employee, which may be specified in an employment contract.

It is contrasted with piece wages, where each job, hour, or other unit is paid separately, rather than on a periodic basis.

In corporations of this time, such as the several East India Companies, many managers would have been remunerated as owner-shareholders.

Such a remuneration scheme is still common today in accounting, investment, and law firm partnerships where the leading professionals are equity partners, and do not technically receive a salary, but rather make a periodic "draw" against their share of annual earnings.

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