what does it mean to pay annually
Annual pay differs somewhat from base pay because annual pay is not necessarily a baseline or minimum figure you can expect to make. Instead, your annual pay is the amount of money that you actually make throughout the course of the year. If you are paid on an hourly basis and your hourly rate of pay is $10 per hour, that computes to a base rate of pay of about $20,800 per year. However, if you work a significant amount of overtime throughout the year, your annual pay might be substantially more, perhaps $25,000 per year.