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wage

a regular amount of money that you earn, usually every week, for work or services

wages of $500 a week

a weekly wage of $500

wage cuts

a wage increase of 3%

Wages are paid on Fridays.

Tax and insurance are deducted from your wages.

http://oaadonline.oxfordlearnersdictionaries.com/dictionary/wage

salary

money that employees receive for doing their job, 

especially professional employees or people working in an office,

 usually paid once or twice a month

an annual salary of $40,000

a 9% salary increase

She's on a salary of$55,000.

He receives a base salary of $215,000, plus bonuses based on performance.

http://oaadonline.oxfordlearnersdictionaries.com/dictionary/salary

Thesaurus: income

pay  salary  wage/wages  overtime  earnings

These are all words for money that a person earns or receives for their work.

income   money that a person receives for their work, 

             or from investments or business: 

people on low incomes

pay (often used in compounds)   money that employees earn for doing their jobs: 

       We all took pay cuts when sales figures fell. 

A large percentage of my paycheck goes towards health insurance for my family. 

The job offers good pay and benefits.

salary      a fixed amount of money that employees earn (usually per year) 

               for doing their jobs:

She was offered a starting salary of $33,000 per year.

NOTE     A person's salary does not change, 

no matter how many hours per week the person works.

pay, salary, or wage?

Pay is the most general of these three words. 

The term wages is used in accounting to describe the amount of money someone earns 

before any taxes or other payments are taken away. 

Employees who work in offices or professional people, such as teachers or doctors, 

usually receive a salary that is paid once or twice a month, 

but is usually expressed as an annual figure.

overtime     money that a person earns for working more hours than 

                  they had originally agreed to work: 

She earned $500 in overtime by working the entire holiday weekend.

earnings (business)      money that a person earns for their work: 

The industry has seen a rise in average earnings over the past two years.

PATTERNS

(a) high/low/basic income/pay/salary/wage/earnings

to earn an income/your pay/a salary/a wage/overtime

to earn $... in income/pay/salary/wages/overtime

to live on/support a family on a(n) income/salary/hourly wage of…

http://oaadonline.oxfordlearnersdictionaries.com/dictionary/salary