guaranteed annual wage

American  

noun

1. a provision in a contract with an employer guaranteeing the employee a minimum income or work over a period of one year.

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Etymology

Origin of guaranteed annual wage

First recorded in 1935–40

Example Sentences

The union said BuzzFeed was proposing a 1 percent guaranteed annual wage increase and a minimum salary of $50,000.

From New York Times • Dec. 2, 2021

Already, King had called for a guaranteed annual wage - a call that alarmed not only the business world, but the federal government.

From Washington Times • Feb. 19, 2016

As an alternative, the union demanded that along with an improved wage and benefits package, the companies strengthen a guaranteed annual wage clause that has been part of I.L.A. contracts since 1964.

From Time Magazine Archive

It was Ford who granted the first guaranteed annual wage to auto workers.

From Time Magazine Archive

New York shippers served notice on the I.L.A. local that they would no longer accept the contract definition of a guaranteed annual wage.

From Time Magazine Archive