Emolument

DEFINITION of 'Emolument'

Compensation for employment, services or holding office. Emolument is generally used in a legal context. Emolument can vary depending on the type and length of service being performed.

BREAKING DOWN 'Emolument'

Emolument is derived from the Latin term "emolumentum." It originally meant the sum paid to a miller for grinding a customer's wheat. Today, the term exist mostly as a bit of archaic legalese, but it might be at the root of the expression, "grinding out a living."