Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Claims Procedures
Set procedures, meeting regulatory standards, must be in place and outlined succinctly in plan description for every employee benefit plan. The set procedure must, in no way, discourage or make it unnecessarily difficult for individuals to apply for benefits. The procedure must also provide participants with a policy for appeals (within a specific time frame).
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General Salary Increase
Benchmark Job
Range
Minimum Wage
Percentile
Black-Scholes Model Z
Step Rates
Job Evaluation
Cost of Labor
Midpoint Progression
Demotion
Quartile
FICA
Compa-Ratio
Compensable Factors
Hours of Work
Year of Service
Coefficient of Determination
Pay Grade
Merit Increase
Market Pricing
Restricted Stock
Bonus
Pay Equity
Market Index
Aging Survey Data
Standard Error of Estimate
Market Based Salary Increase Budget
Mean
Lead-Lag Pay Structure Policy
Green Circle Rate
Defined Contribution Plans
Benchmarking
Individual Retirement Account (IRA)
Foreign Earned Income Exclusion
Median
Turnover
Geographic Differential
Range Spread
Pay Range Overlap
Stock Option Incentive
Sales Compensation
Shift Differentials
Promotional Increase
Lag the Market
Consumer Price Index (CPI)
Mode
Defined Benefit Plans
Lead Pay Structure Policy
Broadbanding
Range Penetration
Gender Pay Gap
Linear Regression
Cost of Living
Long-Term Incentive Plan
Salary Structure Change
Red Circle Rate
Total Rewards
Internal Equity
Lump Sum Merit
Mix
Works Council
Salary Grade
Job Family
Salary Range
Standard Deviation
Annual Incentive
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About Us
ERI SalaryExpert was launched in 2000 by ERI Economic Research Institute to help organizations and individuals optimize salary planning. Our robust compensation management solution houses the global salary survey data and applications needed to design competitive and effective compensation structures. From benchmarking with reliable market data to analyzing geographic differentials and conducting pay equity analyses, our intelligent platform is an innovative way of merging integral salary survey data with efficient features, all in one system.
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Featured White Paper
Common Compensation Terms and Formulas - January 2026
Find commonly used compensation terms and formulas for your reference when planning compensation.
Ready to Streamline Your Compensation Strategy with Us?
Discover how our Assessor Platform can help you attract top talent, stay on top of market trends, and set your organization up for success, all in one platform.
Try a Free Demo
About Us
ERI SalaryExpert was launched in 2000 by ERI Economic Research Institute to help organizations and individuals optimize salary planning. Our robust compensation management solution houses the global salary survey data and applications needed to design competitive and effective compensation structures. From benchmarking with reliable market data to analyzing geographic differentials and conducting pay equity analyses, our intelligent platform is an innovative way of merging integral salary survey data with efficient features, all in one system.
Learn More