What is payment for work, usually figured out by the hour, called?

The term "wage" refers specifically to payment for work that is calculated based on the number of hours worked. It typically represents a rate of pay for employees who receive hourly compensation, making it distinct from other forms of payment. This concept is often associated with labor that is compensated on an hourly basis, where the total earnings can fluctuate depending on the number of hours worked in a given period.

In contrast, "salary" generally indicates a fixed payment amount, usually paid on a monthly or annual basis, regardless of the number of hours worked. "Compensation" is a broader term that encompasses all forms of payment, including wages, salaries, bonuses, and other types of benefits provided to an employee in exchange for their work. Lastly, a "fee" is typically an amount paid for specific services provided, and it is not necessarily tied to the hours worked.

Understanding these distinctions helps clarify why "wage" is the correct answer, as it specifically pertains to hourly work compensation.