Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Seniority
Determined by the number of years that an employee has worked for a particular employer. Seniority is frequently the basis for benefits and privileges. The term is sometimes used to express the amount of time spent working for a division or in a specific occupation.
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Range Spread
Year of Service
Quartile
General Salary Increase
Cost of Living
Shift Differentials
Green Circle Rate
Range Penetration
Consumer Price Index (CPI)
Black-Scholes Model Z
Compensable Factors
Hours of Work
Geographic Differential
Market Index
Turnover
Percentile
Works Council
Standard Deviation
Market Based Salary Increase Budget
Salary Range
Compa-Ratio
Defined Contribution Plans
Foreign Earned Income Exclusion
Total Rewards
Aging Survey Data
Midpoint Progression
Internal Equity
Mode
Bonus
Broadbanding
Pay Range Overlap
Benchmarking
Job Family
Mean
FICA
Merit Increase
Restricted Stock
Step Rates
Range
Red Circle Rate
Lump Sum Merit
Coefficient of Determination
Cost of Labor
Pay Grade
Market Pricing
Salary Structure Change
Benchmark Job
Median
Job Evaluation
Stock Option Incentive
Long-Term Incentive Plan
Minimum Wage
Annual Incentive
Sales Compensation
Mix
Linear Regression
Pay Equity
Salary Grade
Lead Pay Structure Policy
Individual Retirement Account (IRA)
Lag the Market
Defined Benefit Plans
Gender Pay Gap
Lead-Lag Pay Structure Policy
Standard Error of Estimate
Promotional Increase
Demotion
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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.
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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