Compensation Glossary
Welcome to ERI SalaryExpert's compensation glossary, your resource for commonly used terms, formulas, and phrases related to compensation.
U.S. Minimum Wage
The lowest wage, determined by law or contract, that an employer may pay an employee for a specified job in the United States. There are both Federal and State mandated minimums. In cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
Popular Searches
Works Council
Sales Compensation
Year of Service
Defined Contribution Plans
Mean
Compensable Factors
Minimum Wage
Lag the Market
Range Spread
Stock Option Incentive
Pay Range Overlap
Quartile
Aging Survey Data
Green Circle Rate
Mix
Total Rewards
Lump Sum Merit
Market Index
Promotional Increase
Cost of Labor
Job Family
Foreign Earned Income Exclusion
Shift Differentials
Range Penetration
Standard Error of Estimate
Linear Regression
Mode
Internal Equity
Restricted Stock
Midpoint Progression
Market Based Salary Increase Budget
Range
Annual Incentive
Long-Term Incentive Plan
Percentile
Consumer Price Index (CPI)
Lead-Lag Pay Structure Policy
Merit Increase
Median
Salary Structure Change
Individual Retirement Account (IRA)
Market Pricing
Turnover
Bonus
Benchmark Job
Benchmarking
Geographic Differential
Red Circle Rate
Cost of Living
Defined Benefit Plans
Gender Pay Gap
Demotion
General Salary Increase
Black-Scholes Model Z
Pay Equity
Compa-Ratio
Lead Pay Structure Policy
Hours of Work
Standard Deviation
FICA
Step Rates
Salary Range
Coefficient of Determination
Job Evaluation
Salary Grade
Broadbanding
Pay Grade
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
White Papers
Insights on Compensation
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