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

In 1955, at the last auto bargaining, Reuther's whipsaw worked to perfection and wrecked the industry's informal agreement to hold firm against demands for a guaranteed annual wage.

From Time Magazine Archive

We have a guaranteed annual wage for six years -but we have no job security, no pay for overtime, no unemployment compensation and no assurance that our contract will be renewed.

From Time Magazine Archive

"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