Time Rate- Staff are paid for the number of hours they work.

Overtime- Staff are paid extra for working beyond normal hours

Piece rate- Staff are paid for the number of items produced

Commission- staff are paid the number of items they sell

Performance related pay- Staff get a bonus for meeting targets set by their manager

Profit Sharing- staff receive  a part of any profits made by the business

Salary- Staff are paid monthly no matter how many hours they work

Fringe Benefit- Payments in kind e,g company car or staff discounts.

Job                              Payment Method                           Pros                            

Dentist                            Salary                                           well paid                       

Bar Person                       Time Rate/ Over time                  Not many skills

Potter                               Piece Rate                               guarantee pay

Hairdresser                     Profit sharing/ PRP                  all staff get paid

Sales Person                        Commission                          Hard work

Assembly line worker               Salary                                  Get paid no matter what