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

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

"We Live by the Year--We Should Be Paid by the Year" was behind the demand for a guaranteed annual wage.

From Time Magazine Archive

The welfare reform bill, introducing a modified, if modest, guaranteed annual wage, is one example.

From Time Magazine Archive

Eder pays a flat, guaranteed annual wage of $16,460 to each of his trainmen, $4,640 a year better than the Penn Central pays, and he plans equal bonuses, regardless of salary.

From Time Magazine Archive