What term describes a fixed amount of money earned, regardless of hours worked?

The term that describes a fixed amount of money earned, regardless of hours worked, is salary. A salary is typically established as an annual figure, and employees receive a consistent payment, usually on a monthly or biweekly basis, irrespective of the actual number of hours they work. This means that whether an employee puts in extra hours or works less in a given period, their salary remains the same, providing financial stability and predictability.

Other terms in the context imply different payment structures. A bonus is an additional payment that may be awarded for performance and is not guaranteed as part of the regular pay. Commission is usually tied to sales performance, where earnings fluctuate based on the amount sold. A stipend is often a fixed amount provided to cover specific costs or as a form of compensation for services, but it does not usually equate to the consistent pay structure of a salary.