Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Past Service
Employee service that, for defined benefit pension plan purposes, is recognized by an employer but either occurred before the employee was a member in the plan, or before the plans inception. Employees have the option to purchase past service, by qualified retirement plan roll-over or by cash, to increase their years of service in the calculation of their retirement pension.
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Promotional Increase
Market Index
Midpoint Progression
FICA
Individual Retirement Account (IRA)
Long-Term Incentive Plan
Merit Increase
Market Pricing
Benchmarking
Median
Defined Benefit Plans
Salary Grade
Total Rewards
Mode
Internal Equity
Lump Sum Merit
Compensable Factors
Coefficient of Determination
Step Rates
Mix
Lead-Lag Pay Structure Policy
Mean
Demotion
Lead Pay Structure Policy
Black-Scholes Model Z
Market Based Salary Increase Budget
Salary Structure Change
Pay Grade
Hours of Work
Job Evaluation
Works Council
Restricted Stock
Aging Survey Data
Pay Range Overlap
Cost of Living
Gender Pay Gap
General Salary Increase
Year of Service
Consumer Price Index (CPI)
Bonus
Lag the Market
Salary Range
Range
Defined Contribution Plans
Compa-Ratio
Turnover
Job Family
Range Spread
Foreign Earned Income Exclusion
Linear Regression
Annual Incentive
Minimum Wage
Red Circle Rate
Sales Compensation
Cost of Labor
Broadbanding
Benchmark Job
Range Penetration
Shift Differentials
Percentile
Standard Deviation
Green Circle Rate
Pay Equity
Quartile
Stock Option Incentive
Standard Error of Estimate
Geographic Differential
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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