Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Fee Basis
Under FLSA, administrative and professional employees may be paid on a fee basis. An employee will be considered to be paid on a ‘‘fee basis’’ within the meaning of these regulations if the employee is paid an agreed upon sum for a single job regardless of the time required for its completion. These payments resemble piecework payments with the important distinction that generally a ‘‘fee’’ is paid for the kind of job that is unique rather than for a series of jobs repeated an indefinite number of times and for which payment on an identical basis is made over and over again. Payments based on the number of hours or days worked and not on the accomplishment of a given single task are not considered payments on a fee basis. (Section 541.605)
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Cost of Labor
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Lead-Lag Pay Structure Policy
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Range
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Standard Error of Estimate
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Defined Benefit Plans
Midpoint Progression
General Salary Increase
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Broadbanding
Demotion
Lag the Market
Compa-Ratio
Gender Pay Gap
Coefficient of Determination
Turnover
Range Penetration
Salary Range
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Hours of Work
Black-Scholes Model Z
Linear Regression
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Green Circle Rate
Mix
Red Circle Rate
Consumer Price Index (CPI)
Mean
Works Council
Percentile
Median
Job Family
Annual Incentive
Internal Equity
Promotional Increase
Pay Range Overlap
Shift Differentials
Market Pricing
Minimum Wage
Individual Retirement Account (IRA)
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Restricted Stock
Quartile
Foreign Earned Income Exclusion
Long-Term Incentive Plan
Compensable Factors
Bonus
Step Rates
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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