guaranteed pay
noun[U]
ukusHR(alsoguarantee pay);(alsoguaranteed wage[C])
anagreementthat anemployermustpayemployeesfordayswhen they areavailabletoworkevenwhen there is noworkfor them to do:
Under theguaranteedpayscheme, when you make yourselfexclusivelyavailableforwork, you will bepaidwhether or not wefindworkfor you.
asalarythat someone issuretoreceive:
The CEO'sguaranteedpayis €1.3 million ayear, withpossiblebonusesontop.