merit raises
Rewards for excellence
Merit raises are salary increases awarded based on individual job performance rather than seniority, cost of living, or across-the-board adjustments.
The term implies that compensation should reflect contribution: She earned a merit raise after exceeding her sales targets.
Merit raises are a standard tool in performance-based compensation systems, though criteria for "merit" vary widely by organization.
- job performanceQuality of task execution
- performanceCarrying out a task
- employee evaluationAssessment of worker performance
- bonusReward beyond expectation
- salaryFixed periodic employment payment
cost of living · promotion · evaluation · reward · performance bonus · compensation · incentive · appraisal · recognition · deserving · hard work · achievement · base salary · annual · review · excellence · supervisor · paycheck
- payrollpaycheck, gross pay, base salary, net pay, pay stub
- employee benefitshealth insurance, pension, 401k, 401(k), retirement
- faculty perkssabbatical, tenure, research funding, grants, teaching assistants