ABSTRACT
Pay is simply the consideration arising from a contract of employment (as opposed to a contract for services associated with subcontracting) to give somebody a particular amount of money for work done for goods or services provided. Benefits are similarly defined as a regular payment made to somebody qualified to receive it. Total pay and benefits are also known collectively as a 'remuneration compensation package' and this includes wage and non-wage payments such as bonuses and fringe benefits such as health insurance, pension fund, sickness benefits, etc. Both definitions are understandably similar and draw attention to a number of key issues. First, there is a suggestion of equity or a fair exchange of something for something else with each outcome having benefit for both parties (money and goods and services provided); second, a notion of 'worth' attached to qualifications.
