Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
Total Compensation
The sum of all payments made to an employee for a specific time period (usually annual) including base salary, incentives, and bonuses (and/or other variable pay such as commissions).<br /><br />In certain cases, as when non-cash remuneration elements are separately attributed to an individual, Total All Compensation may be provided (as in the <a href="https://www.erieri.com/executivecompensationassessor">Executive Compensation Assessor</a>®) to include all cash and individually-paid benefits, as specified. Alternatively, when additional categories are reported (as in the field for Total Compensation in the <a href="https://www.erieri.com/nonprofitcomparablesassessor">Nonprofit Comparables Assessor</a>®), Total Compensation is defined as the sum of direct cash, benefits, and allowances.
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Works Council
Lump Sum Merit
Market Index
Percentile
Standard Error of Estimate
Job Family
Pay Equity
Range Penetration
Foreign Earned Income Exclusion
Bonus
Market Based Salary Increase Budget
Pay Grade
Demotion
Hours of Work
Lead-Lag Pay Structure Policy
FICA
Pay Range Overlap
Individual Retirement Account (IRA)
Mean
Salary Grade
Range
Salary Structure Change
Midpoint Progression
Total Rewards
General Salary Increase
Shift Differentials
Merit Increase
Coefficient of Determination
Broadbanding
Internal Equity
Defined Contribution Plans
Minimum Wage
Aging Survey Data
Promotional Increase
Quartile
Annual Incentive
Gender Pay Gap
Stock Option Incentive
Green Circle Rate
Range Spread
Lag the Market
Compa-Ratio
Geographic Differential
Long-Term Incentive Plan
Consumer Price Index (CPI)
Compensable Factors
Restricted Stock
Sales Compensation
Mode
Defined Benefit Plans
Black-Scholes Model Z
Job Evaluation
Cost of Living
Red Circle Rate
Linear Regression
Turnover
Year of Service
Cost of Labor
Step Rates
Lead Pay Structure Policy
Benchmarking
Market Pricing
Benchmark Job
Salary Range
Mix
Median
Standard Deviation
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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