Which statement describes the term salary?

A statement that best describes the term "salary" could be: "Salary is best described as a fixed amount of income that is paid to an individual weekly, bi-weekly, or a monthly basis".

Also, it could be described as annual earnings paid out over a year.

Example: James gets paid $7/hr and works 4 hour days and 5 days a week. His weekly earnings would turn out to be $140. 

Example #2: Jonquavius gets paid $15/hr and works 8 hours a day for 7 days a week. His weekly earnings would turn out to be $840.