Bonus pay Meaning: Definition, Examples, and Translations
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bonus pay
[ˈboʊnəs peɪ ]
Definitions
salary
Extra payment in addition to regular salary, often given as a reward for good performance or as an incentive.
Synonyms
bonus salary, extra compensation, incentive pay.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| bonus pay |
Used in a general sense to refer to any additional payment given to employees, often as a reward for good performance or as part of a company's compensation plan.
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| incentive pay |
Specifically used to describe payment meant to motivate or encourage employees to achieve specific targets or performance goals.
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| bonus salary |
Less commonly used, but can refer to an additional amount added to a regular salary, typically as a one-time event.
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| extra compensation |
A more formal term that can apply to any additional payment or benefit outside regular wages or salary, such as overtime, bonuses, or other incentives.
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Examples of usage
- Employees receive bonus pay for exceeding sales targets.
- She was thrilled to see the bonus pay in her paycheck.
- The company offers bonus pay as a motivation for employees to work harder.
compensation
To give extra payment to someone in addition to their regular salary, usually as a reward or incentive.
Synonyms
incentivize with additional compensation, reward with extra pay.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| bonus pay |
This term is commonly used in corporate settings to refer to extra monetary compensation given to employees for various reasons, such as exceeding performance targets or reaching sales goals.
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| reward with extra pay |
This phrase is straightforward and can be used in both conversational and formal contexts. It highlights the idea of giving additional money as a form of appreciation or recognition for good work.
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| incentivize with additional compensation |
This phrase is often used in management and HR contexts to describe the strategy of motivating employees to perform better by offering them extra money. This is more formal and is typically found in policy documents or managerial discussions.
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Examples of usage
- The company decided to bonus pay its employees for their hard work.
- They bonus pay their top performers to encourage continued success.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Historical Origins
- The word 'bonus' comes from Latin, meaning 'good' or 'generous', reflecting the positive nature associated with additional rewards.
- In ancient Rome, soldiers received extra pay, or bonuses, for outstanding service, which set a precedent for rewarding hard work.
- The practice of bonus pay became formalized in the business world during the late 19th century, particularly amid increasing competition among companies.
Economics
- Bonus pay can motivate employees to perform better, as it aligns their interests with the success of the company.
- Economists often examine bonuses in the context of incentive structures, evaluating how they influence productivity and workplace culture.
- In some industries, bonuses can make up a large part of an employee's total earnings, impacting salary negotiations and job satisfaction.
Pop Culture
- Bonus pay frequently appears in movies and TV shows as a key motivation for characters trying to achieve success in their jobs.
- Popular songs sometimes reference bonuses indirectly, celebrating hard work and the rewards that come alongside it.
- Many companies use 'bonus' as a catchy marketing term to attract top talent, highlighting their reward structures in recruitment campaigns.
Psychology
- Research shows that receiving a bonus can increase job satisfaction and employee retention rates, as it boosts morale.
- The psychology of reward suggests that when individuals perceive their efforts are recognized through bonuses, they are likely to engage more fully in their work.
- Some studies argue that excessive focus on bonuses can lead to unhealthy competition among coworkers, negatively affecting teamwork.
Literature
- Literary works often discuss the implications of bonuses, portraying characters who either thrive or struggle due to their pursuit of financial incentives.
- In fiction, themes of greed and ambition frequently arise around the concept of bonuses, illustrating the moral dilemmas that can accompany wealth.
- Classic novels often depict the pursuit of monetary rewards, reflecting societal values and conflicts surrounding work and compensation.
Origin of 'bonus pay'
The term 'bonus pay' originated in the early 19th century, combining the word 'bonus,' meaning an extra or additional reward, with 'pay,' referring to monetary compensation for work. Bonus pay has become a common practice in many industries to incentivize employees and reward exceptional performance.