noun
pay envelope; wage packet
A physical envelope containing cash wages, traditionally used in Japan before direct deposit became common. Now somewhat dated but still understood.
昔は給料袋を手渡しでもらったものだ。
In the old days, we used to receive our pay envelopes by hand.
給料 means 'salary' or 'wages' in general, while 給料袋 specifically refers to the physical envelope containing the pay.
Compound of 給料 (salary) + 袋 (bag, envelope). The word reflects the traditional practice of handing out cash wages in an envelope.