what is remuneration 
remuneration is the total compensation received by an employee including base salary bonuses commission payments overtime pay and any other monetary benefits that the employee receives perks such as an on site gym or vacation time aren t counted as compensation because they don t involve money paid to the employee however benefits such as the use of a company car may count as remuneration and may be taxable income tips although they are paid by customers rather than employers count as compensation determining compensationat the executive level remuneration can include options bonuses expense accounts and other forms of compensation detailed in an employment contract the total depends on many factors including if it s remuneration it s generally taxable the irs has a guide to taxation of fringe benefits types of remunerationthe most common type of remuneration is in the form of wages or salary many sales positions offer a commission on sales or a percentage of the amount sold positions in the food service and hospitality industries often rely on tips as the minimum wage for these jobs is usually substantially less than the state s general minimum wage other benefits may include health insurance retirement plan matching contributions sick days personal days and reimbursement for work related travel or other expenses a company anxious to attract a person with a unique skillset or an outstanding reputation may offer yet another type of remuneration the golden hello this is a signing bonus due when the employee starts the job the golden parachute guarantees an executive a generous payout in case of termination and is written into a contract before the job begins another type of remuneration at the executive level is deferred compensation which sets aside a portion of an employee s earnings to be redeemed later one example is a retirement plan that includes an employer matching a certain amount contributed by an employee remuneration may also refer to the benefits an employee receives from the company such as health insurance coverage gym memberships and the use of a company mobile device or car minimum wage lawsthe minimum wage is the lowest remuneration employers can legally pay most employees the minimum wage varies by state although the state minimum must at least equal the federal minimum wage of 7 25 per hour as of jan 2024 22 states increased their minimum wages those with hourly rates of 15 00 or more include maryland new jersey new york california connecticut massachusetts and washington washington state boasts the highest state minimum wage of 16 28 in the united states 47 8 of all workers earn less than 15 an hour and reside in one of twenty states that still use the federal minimum wage of 7 25 an hour 1