hourly rate meaning

Hourly Rate

Definition: An hourly rate is the amount of payment that an employer or client agrees to pay a worker or service provider for one hour of work.

Usage:

• “The company offers an hourly rate of $20 for freelance graphic designers.”
• “She calculated her earnings based on the hourly rate she negotiated with the client.”

Etymology: The term “hourly” derives from “hour,” which can be traced back to the Latin “hora” and the Greek “hōra,” meaning period or season. “Rate” stems from the Latin “rata,” meaning reckoned, which is derived from “ratus,” past participle of “reri,” meaning to reckon or calculate.

Pronunciation:

• /ˈaʊrli reɪt/

Synonyms:

• Pay per hour
• Wage rate
• Per-hour payment
• Compensation rate

Antonyms:

• Salary (a fixed regular payment, typically monthly or biweekly, often expressed as an annual amount rather than per hour)
• Fixed rate
• Annual salary
• Lump sum

1. The company increased the hourly rate for all employees to attract more talent.
2. She calculated her hourly rate by dividing her annual salary by the total number of hours worked in a year.
3. Freelancers often negotiate their hourly rate based on their level of expertise and the complexity of the project.
4. The local minimum wage laws set a limit on the hourly rate employers can pay workers.
5. To estimate her monthly earnings, she multiplied her hourly rate by the average number of hours she works each week.

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