No pay. He was a noble boy who was in training to become a knight. People did not earn a "salary" in this time. Peasants worked for the house and land they lived on, nobles earned the manor for being loyal to the king for whom they protected politically.
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a medieval dubbing is when a squire became a kinight
The old slang for a sixpence was a "tanner".
The squires of the Middle Ages were young men training to be knights. They worked for knights and lived with the knights. In peaceful times they would have lived on a manor, possibly in the manor house, or in a castle. In wartime, they would have lived in castles or, if the knights were in the field, in tents or in buildings appropriated or rented by the knights as needed. The use of the word squire for a village leader or prosperous land owner came about after the Middle Ages ended.
The lord would tap on the squire's shoulders to announce that he is now a knight, but in the early middle ages the lord would hit the squire hard enough to knock him over.
Good morrow my lady/lad. or What ho! Good morrow, noble squire. Pray tell- how fare thee on this day of providence?