Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Salary
This is the compensation received by an employee on a weekly, bi-weekly, semi-monthly, monthly or yearly schedule as opposed to hourly pay. Typically, this applies to employees of higher levels with non-repetitive jobs that may or may not be supervisory in nature.
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Promotional Increase
Cost of Living
Green Circle Rate
Midpoint Progression
Job Evaluation
Gender Pay Gap
Pay Equity
Minimum Wage
Compensable Factors
Median
Restricted Stock
Consumer Price Index (CPI)
Cost of Labor
Bonus
Long-Term Incentive Plan
Market Based Salary Increase Budget
Red Circle Rate
FICA
Mean
Range
Mix
Internal Equity
Range Spread
Salary Range
Foreign Earned Income Exclusion
Standard Deviation
Year of Service
Geographic Differential
Sales Compensation
Range Penetration
Aging Survey Data
Coefficient of Determination
Black-Scholes Model Z
Salary Grade
Broadbanding
Annual Incentive
Linear Regression
General Salary Increase
Job Family
Turnover
Shift Differentials
Individual Retirement Account (IRA)
Market Index
Salary Structure Change
Standard Error of Estimate
Lead Pay Structure Policy
Demotion
Pay Range Overlap
Compa-Ratio
Defined Benefit Plans
Stock Option Incentive
Lag the Market
Total Rewards
Step Rates
Merit Increase
Lump Sum Merit
Pay Grade
Benchmarking
Percentile
Quartile
Hours of Work
Lead-Lag Pay Structure Policy
Market Pricing
Defined Contribution Plans
Mode
Works Council
Benchmark Job
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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