Which term best describes compensation paid to employees for their time worked, typically calculated hourly?

The term that best describes compensation paid to employees for their time worked, typically calculated hourly, is "wages." Wages refer specifically to payments made for labor, calculated based on hours worked or units produced, making this term particularly relevant in contexts where employees are compensated for the actual hours they dedicate to their jobs.

In contrast, "salary" is a term that refers to a fixed regular payment often expressed annually, without regard for the number of hours worked. "Stipend" usually pertains to a fixed sum of money paid periodically to cover expenses or provide support rather than direct compensation for hours worked. "Fee" is typically associated with payment received for specific services or expertise provided, which may not directly relate to traditional employment with hourly compensation. Therefore, "wages" is the most accurate term in this context.