A glossary of terms for Compensation Benchmarking
Lattice's compensation benchmarking is powered by Mercer, therefore definitions may differ from Key Terms for Compensation.
- Job function: The type of work being done by a group of employees
- Job level/type: The category of career paths at a company and the level within the job type
- Location: The location relevant for each salary benchmark
- Breakout by: Compensation results based on an optional Peer (company revenue size or industry) filter. This column will not be visible if a breakout filter is not selected.
- Currency: The currency of the benchmark
- # of employees: The sample size of employees included in the benchmark data
- Base salary: This consists of annual base salary plus any typically offered allowances (excluding car) as part of the compensation package. Fixed Base is calculated for all employees except in situations where an employee might be "commission-only". All employee records in Comptryx with a reported annual base salary will have a Fixed Base salary calculation.
- Bonus pay: The total annual short term incentive target award for any incentive plans, commission plans, cash profit-sharing or discretionary bonuses for which the employee is eligible. Bonus pay represents the amount of incentive/bonus the employee would receive from achieving target performance goals. The bonus pay represents the sum of all bonus/incentive payments given to an employee. Values of bonus pay are collected and displayed as an award amount and "zero" targets are included in the calculations.
- Bonus + Variable target: The total annual short term incentive target award for any incentive plans, commission plans, cash profit-sharing or discretionary bonuses for which the employee is eligible. Target bonus+variable represents the amount of incentive/bonus the employee would receive from achieving target performance goals. The bonus+variable target represents the sum of all bonus/incentive payments given to an employee. Values of bonus+variable target are collected and displayed as an award amount and "zero" targets are included in the calculations.
- Bonus + Variable actual: The total of Bonus+Variable Incentive awards actually paid to employees for the previous plan year as part of any incentive plans, commission plans, cash profit-sharing or discretionary bonuses. Employees not receiving an actual bonus+variable incentive award are included with zero values.
- Total cash target: The annual amount an employee receives in base salary, target short-term incentives and allowances. Calculated as the sum of Base Salary + Bonus+Variable Target + Allowances.
- Total cash actual: The annual amount an employee receives in base salary, actual short-term incentives and allowances. Calculated as the sum of Base Salary + Bonus+Variable Actual + Allowances.