merit bonus
Excellence-based extra pay
A merit bonus is extra compensation awarded to an employee based on individual performance rather than across-the-board pay increases or tenure.
Unlike automatic raises, merit bonuses reward specific achievements or exceptional work: She received a merit bonus for landing the company's biggest client.
The term appears frequently in corporate compensation discussions.
- performanceCarrying out a task
- pay for performanceCompensation tied to results
- rewardPayment for service
- incentiveReward encouraging action
- achievementAccomplished goal or deed
recognition · top performer · excellence · above and beyond · extra mile · payout · raise · compensation · end of year · earned · deserving · quarterly · annual · evaluation · appraisal · performance review · outstanding · promotion
merit bonuscost-of-living adjustment
Pay increase matching inflation
COLA · participation trophy · signing bonus · holiday bonus · retention bonus
merit bonuspay cut
Reduction in earnings
salary reduction · demotion · financial penalty · wage garnishment · fine
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