prevailing wage
Required local compensation
Prevailing wage is the hourly wage, benefits, and overtime paid to the majority of workers in a particular area and occupation.
Government contracts often require contractors to pay prevailing wages, ensuring workers on public projects receive compensation comparable to local standards: The construction company had to meet prevailing wage requirements to bid on the highway project.
- pay scalesStructured compensation levels
- job classificationSystem categorizing employment roles
- fair payReasonable compensation for work
- income inequalityDisparity in earnings distribution
- overtime payCompensation for excess hours
public works projects · construction workers · worker protections · benefits packages · fringe benefits · labor contracts · blue collar · cost-of-living adjustments · hourly rates · union agreements · collective bargaining · payroll systems · economic mobility · salary negotiations · government contracts · performance bonuses · social welfare programs
- wagessalary, pay, paycheck, income, earnings
- labor lawlabor code, labor law, labor laws, labor standards, labour law
- labor rightsworker rights, labor laws, union rights, employee rights, right to strike
- pay ratesovertime pay, time-and-a-half, time and a half, base rate, night rate
- wage lawsovertime pay, overtime rules, FLSA, exempt employees, pay equity
- construction accountingjob costing, change orders, percent complete, work in progress, project budgets