Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Standard Hour Plan
Workers are paid based on the number of units they produce per hour. If they meet the production standard, they are paid a set hourly wage. If they exceed the standard, their hourly wage increases based on the number of units they produce beyond the standard.
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Step Rates
Foreign Earned Income Exclusion
Annual Incentive
Compensable Factors
Consumer Price Index (CPI)
Linear Regression
Midpoint Progression
Median
Range Spread
Lump Sum Merit
Range
Defined Benefit Plans
Cost of Living
Pay Range Overlap
Percentile
General Salary Increase
Individual Retirement Account (IRA)
Green Circle Rate
Long-Term Incentive Plan
Coefficient of Determination
Salary Grade
Mix
Shift Differentials
Quartile
FICA
Salary Structure Change
Gender Pay Gap
Lead Pay Structure Policy
Internal Equity
Lead-Lag Pay Structure Policy
Year of Service
Red Circle Rate
Total Rewards
Sales Compensation
Black-Scholes Model Z
Pay Grade
Salary Range
Bonus
Cost of Labor
Mode
Standard Deviation
Promotional Increase
Hours of Work
Job Family
Demotion
Merit Increase
Range Penetration
Lag the Market
Defined Contribution Plans
Works Council
Broadbanding
Benchmark Job
Benchmarking
Stock Option Incentive
Geographic Differential
Aging Survey Data
Pay Equity
Job Evaluation
Standard Error of Estimate
Restricted Stock
Market Pricing
Market Based Salary Increase Budget
Market Index
Mean
Compa-Ratio
Minimum Wage
Turnover
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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