The Collaborative International Dictionary of English v.0.48:

Pittance \Pit"tance\ (p[i^]t"tans), n. [OE. pitance, pitaunce,
   F. pitance; cf. It. pietanza, LL. pitancia, pittantia,
   pictantia; perh. fr. L. pietas pity, piety, or perhaps akin
   to E. petty. Cf. Petty, and Pity.]
   1. An allowance of food bestowed in charity; a mess of
      victuals; hence, a small charity gift; a dole. "A good
      pitaunce." --Chaucer.
      [1913 Webster]

            One half only of this pittance was ever given him in
            money.                                --Macaulay.
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   2. A meager portion, quantity, or allowance; an
      inconsiderable salary or compensation. "The small pittance
      of learning they received." --Swift.
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            The inconsiderable pittance of faithful professors.
                                                  --Fuller.
      [1913 Webster]

WordNet (r) 3.0 (2006):

pittance
    n 1: an inadequate payment; "they work all day for a mere
         pittance"