Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Medicare
A medical plan that is available to those over age 65 and those with specific disabilities via the U.S. government through the Social Security Administration. There are two plans available through Medicare. Part A, provides for inpatient hospital services and post-hospital care. Part B, pays for medically necessary doctors’ services, outpatient hospital services and a number of other medical services and supplies not covered under Medicare Part A.
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Individual Retirement Account (IRA)
Defined Contribution Plans
Black-Scholes Model Z
Lead-Lag Pay Structure Policy
Aging Survey Data
Median
FICA
Hours of Work
Demotion
Range Spread
Quartile
Bonus
Green Circle Rate
Coefficient of Determination
Midpoint Progression
Cost of Living
Compensable Factors
Long-Term Incentive Plan
Gender Pay Gap
Broadbanding
Stock Option Incentive
Promotional Increase
Turnover
Range Penetration
Market Based Salary Increase Budget
Cost of Labor
Job Family
Mix
Year of Service
Mode
Geographic Differential
Benchmarking
Merit Increase
Salary Structure Change
Works Council
Pay Range Overlap
Market Pricing
Job Evaluation
Standard Deviation
Internal Equity
Step Rates
Defined Benefit Plans
Total Rewards
Mean
Minimum Wage
Annual Incentive
Compa-Ratio
General Salary Increase
Sales Compensation
Benchmark Job
Salary Grade
Pay Grade
Consumer Price Index (CPI)
Red Circle Rate
Lag the Market
Standard Error of Estimate
Range
Market Index
Percentile
Foreign Earned Income Exclusion
Salary Range
Lead Pay Structure Policy
Linear Regression
Pay Equity
Restricted Stock
Shift Differentials
Lump Sum Merit
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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