This term is part of our Unit 16: Company Benefits and Compensation vocabulary list. Please note that pronunciations can vary slightly, even in the same dialect.
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UK
USA
UK
something that is given to somebody to make up for or balance out a concession on their part - be it invested time, effort, or a loss of any kind
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UK
"At the workplace, compensation is commonly thought of as monetary, but oftentimes includes a variety of benefits and perks that go beyond a base salary."