Meaning of the word "overtime allowance" in English

What does "overtime allowance" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

overtime allowance

US /ˈoʊ.vɚ.taɪm əˈlaʊ.əns/
UK /ˈəʊ.və.taɪm əˈlaʊ.əns/
"overtime allowance" picture

Noun

extra payment received for working more than the standard or agreed-upon hours

Example:
The company pays a generous overtime allowance for weekend shifts.
He relied on his overtime allowance to cover the extra expenses.