Wages are the money that workers earn in exchange for their labor. When someone has a job, they receive wages as compensation for the time and effort they put into their work. Wages can be paid hourly, weekly, or monthly, depending on the job and the agreement between the worker and their employer, often referred to as the employer. Different jobs offer different wages based on factors like skill level, experience, and the industry. For example, a teacher may earn different wages compared to a software engineer. Understanding wages is important for budgeting and planning for the future.