Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
SIC
The U.S. Standard Industrial Classification (SIC) system is a U.S. federally designed system that identifies companies by industry with a standard numbering system. It provides other information and is used by securities analysts, market researchers, and others. The SIC was replaced by the North American Industry Classification System (NAICS) starting in 1997: both are still being used. The current SIC Division Structure may be found online at www.osha.gov/cgi-bin/sic/sicser5.
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Annual Incentive
Range
Salary Structure Change
Standard Deviation
Median
Consumer Price Index (CPI)
Year of Service
Job Family
Demotion
Percentile
Lump Sum Merit
Benchmarking
Mode
Works Council
Sales Compensation
Broadbanding
Compensable Factors
Linear Regression
Market Based Salary Increase Budget
Salary Range
Midpoint Progression
Red Circle Rate
Market Index
Pay Equity
Pay Range Overlap
Cost of Labor
Lead-Lag Pay Structure Policy
General Salary Increase
Defined Contribution Plans
Cost of Living
Total Rewards
Quartile
Geographic Differential
Market Pricing
Standard Error of Estimate
Internal Equity
Lead Pay Structure Policy
Stock Option Incentive
Pay Grade
Merit Increase
Foreign Earned Income Exclusion
Step Rates
Range Spread
Green Circle Rate
Bonus
Defined Benefit Plans
Salary Grade
Restricted Stock
Compa-Ratio
Gender Pay Gap
Mean
FICA
Shift Differentials
Individual Retirement Account (IRA)
Lag the Market
Mix
Range Penetration
Aging Survey Data
Job Evaluation
Black-Scholes Model Z
Coefficient of Determination
Long-Term Incentive Plan
Promotional Increase
Benchmark Job
Minimum Wage
Hours of Work
Turnover
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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