Crossword Genius

Fix wages below salary cap (4)

Ross

I believe the answer is:

spay

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'fix' is the definition.
(I know that spay is a more specific form of the action fix)

'wages below salary cap' is the wordplay.
'wages' becomes 'pay' (I've seen this before).
'below' means one lot of letters go next to another (in a down clue, some letters go below others).
'salary cap' becomes 's' (I can't explain this - if you can you should give a lot more credence to this answer).
'pay' put after 's' is 'SPAY'.

Can you help me to learn more?

(Other definitions for spay that I've seen before include "Sterilise (a female animal)" , "doctor" , "Remove the ovaries of a female animal" , "Neuter" , "Sterilize" .)

I've seen this clue in the Sydney Morning Herald.
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