What is the term for the financial compensation received by individuals for their work?

The term that specifically refers to the financial compensation received for work performed is "wages." Wages typically represent payment based on hours worked or output produced and are commonly associated with hourly or piece-rate work. This term emphasizes the ongoing nature of remuneration that employees receive for their labor, often calculated on a weekly or bi-weekly basis.

The other terms, while related to financial compensation, refer to different forms or types of remuneration. "Salary" usually denotes a fixed annual payment, often associated with professional roles with set work hours, rather than an hourly rate. "Commission" is typically a payment based on sales performance, where individuals earn a percentage of the sales they generate, and it is variable. "Bonus" refers to additional compensation usually awarded for achieving certain goals or as a reward for exceptional performance; this is not guaranteed as part of regular pay. Understanding these distinctions helps clarify the specific nature and structure of different forms of financial compensation in the workplace.