Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Overtime
Each hour worked in a workweek in excess of the maximum hours applicable. This usually means hours worked in excess of 40 in a workweek. Under the Fair Labor Standards Act of 1938 (FLSA), there is no limit to the number of hours that an employee may work, either daily or weekly. It simply requires that overtime pay must be paid at a rate of not less than 1½ times the nonexempt employee’s regular rate of pay for hours worked over the maximum in a workweek.
Popular Searches
Benchmarking
Percentile
Green Circle Rate
Black-Scholes Model Z
Salary Structure Change
Foreign Earned Income Exclusion
Lag the Market
Works Council
Year of Service
Stock Option Incentive
Quartile
Median
Market Based Salary Increase Budget
Total Rewards
Mean
General Salary Increase
Gender Pay Gap
Lead Pay Structure Policy
Merit Increase
Step Rates
Demotion
Lead-Lag Pay Structure Policy
Hours of Work
Individual Retirement Account (IRA)
Range
Geographic Differential
Broadbanding
Internal Equity
Coefficient of Determination
Market Index
Annual Incentive
Cost of Living
Compa-Ratio
Bonus
FICA
Standard Deviation
Job Evaluation
Sales Compensation
Promotional Increase
Lump Sum Merit
Pay Range Overlap
Job Family
Salary Grade
Salary Range
Shift Differentials
Minimum Wage
Compensable Factors
Pay Grade
Aging Survey Data
Cost of Labor
Linear Regression
Midpoint Progression
Pay Equity
Range Spread
Range Penetration
Defined Benefit Plans
Red Circle Rate
Restricted Stock
Defined Contribution Plans
Long-Term Incentive Plan
Standard Error of Estimate
Mode
Benchmark Job
Turnover
Market Pricing
Consumer Price Index (CPI)
Mix
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
White Papers
Insights on Compensation
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
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