Okuzeka
Job Interviews & Careers vocabulary · Salary & Benefits

Compensation package

Meaning in job interviews & careers, with examples

nounCommon term

In job interviews & careers, compensation package means: Everything an employer gives you for your work, taken together: salary, bonus, shares, pension, insurance and other benefits.

In Turkish: ücret paketi, maaş ve yan haklar paketi

How it is used

Common in offer letters, senior roles and American English, often shortened to 'package' or 'comp'. Candidates compare the total compensation package, not just the salary. 'Remuneration package' is a more formal British equivalent.

Example sentences

  1. The compensation package includes a base salary, an annual bonus and stock options.

  2. Their compensation package was better overall, even though the salary was slightly lower.

Common collocations

  • total compensation package
  • attractive compensation package
  • negotiate the compensation package
  • compensation and benefits
  • base salaryThe fixed amount of pay you get before bonuses, commission, overtime or benefits are added.
  • benefitsThings an employer gives you in addition to your salary, such as health insurance, a pension, extra holiday or a meal allowance.
  • bonusAn extra payment added to your normal pay, usually for good performance, good company results or at a certain time of the year.
  • perkAn extra advantage you get from your job in addition to your pay, such as free lunches, a gym membership or a company phone.
  • negotiateTo discuss something formally with someone in order to reach an agreement, for example about your salary, start date or working hours.

More terms: Salary & Benefits

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level: