Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Pre-Authorized Payment System
A payment method that allows a policyowner to sign an authorization to pay insurance premiums. The authorization is two parts. The first part gives the insurer authorization to withdraw the premium from the insured's account. The second part gives the bank authorization to allow withdrawals that do not have the insured's signature. If this authorization system is completed via checks, it is then called the pre-authorized check (PAC) system.
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Mean
Market Index
Standard Error of Estimate
Salary Structure Change
Market Pricing
Cost of Labor
Step Rates
Demotion
Green Circle Rate
Lead-Lag Pay Structure Policy
Benchmarking
Compensable Factors
Hours of Work
Pay Equity
Defined Contribution Plans
Coefficient of Determination
Red Circle Rate
Foreign Earned Income Exclusion
Annual Incentive
Salary Range
Gender Pay Gap
Defined Benefit Plans
Works Council
Long-Term Incentive Plan
Year of Service
Quartile
Standard Deviation
Market Based Salary Increase Budget
Pay Range Overlap
Linear Regression
Lag the Market
Median
Aging Survey Data
Total Rewards
Geographic Differential
Broadbanding
Shift Differentials
Stock Option Incentive
Job Evaluation
Cost of Living
Mix
Restricted Stock
Internal Equity
Job Family
Consumer Price Index (CPI)
Lead Pay Structure Policy
Benchmark Job
Compa-Ratio
Bonus
Merit Increase
Minimum Wage
Lump Sum Merit
Pay Grade
Midpoint Progression
Mode
Sales Compensation
Turnover
Range
Range Penetration
General Salary Increase
Individual Retirement Account (IRA)
Promotional Increase
Range Spread
Percentile
FICA
Black-Scholes Model Z
Salary Grade
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Common Compensation Terms and Formulas - January 2026
Find commonly used compensation terms and formulas for your reference when planning compensation.
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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.
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