What is the meaning by compensation?

What is the meaning by compensation?

Definition of compensation 1a : the act of compensating : the state of being compensated. b : correction of an organic defect or loss by hypertrophy or by increased functioning of another organ or unimpaired parts of the same organ.

What is the synonym of compensation?

reparation, reprisal(s), requital, restitution, satisfaction.

What does compensate mean example?

To compensate is to pay someone for services performed, to repay someone for some wrong or that something positive exists to make up for something negative. An example of compensate is when you pay the guy who mowed your lawn.

Does compensation mean salary?

Compensation is the total cash and non-cash payments that you give to an employee in exchange for the work they do for your business. It’s typically one of the biggest expenses for businesses with employees. Compensation is more than an employee’s regular paid wages.

Is compensation same as salary?

Key Takeaways. Annual compensation, in the simplest terms, is the combination of your base salary and the value of any financial benefits your employer provides. Annual salary is the amount of money your employer pays you over the course of a year in exchange for the work you perform.