What term refers to the money paid for work or a service?

The term "remuneration" encompasses all forms of payment or compensation that an employee receives for their work or services rendered. This includes not only salaries and wages, but also bonuses, benefits, and any other financial rewards linked to employment. It represents the comprehensive view of what an individual earns from their job, reflecting both direct payments and supplementary forms of compensation.

While "payroll" specifically refers to the process or system for calculating and distributing employee compensation, and the terms "salary" and "wages" denote specific types or forms of remuneration, they do not capture the entirety of what remuneration entails. Salary often implies a fixed regular payment, usually calculated on an annual basis, while wages typically refer to hourly pay or compensation based on the amount of work completed. Hence, remuneration is the most accurate and inclusive term to describe the total financial compensation for work or services provided.