Remuneration: meaning, definitions and examples
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remuneration
[rɪˌmjuːnəˈreɪʃən ]
Definitions
salary
Payment for work done; a salary or wage.
Synonyms
compensation, payment, salary, wage.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| remuneration |
Used in formal situations, often in legal or business contexts, to describe money paid for work or services. It includes all forms of financial compensation like bonuses and benefits.
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| payment |
Generally used in everyday language to refer to the act of paying money for goods, services, or work done. It can be a one-time transaction or periodic.
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| compensation |
Used in both formal and informal settings to refer to money given for services rendered, but also for injury or loss. It can include salaries, bonuses, and other forms of payment.
|
| wage |
Typically used to refer to hourly or daily payment for labor, often associated with manual or unskilled work. It can also indicate weekly payment.
|
| salary |
Commonly used to refer to a fixed, regular payment made by an employer to an employee, typically on a monthly or bi-weekly basis. Often associated with professional or office jobs.
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Examples of usage
- The company offers competitive remuneration for its employees.
- Her remuneration package includes bonuses and benefits.
compensation
Something given or received as an equivalent for services, debt, loss, injury, suffering, lack, etc.; compensation; recompense.
Synonyms
compensation, payment, recompense, reward.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| remuneration |
Used in formal settings, often in business contexts to refer to the payment or financial reward given for services or employment.
|
| compensation |
Generally used to refer to money or other benefits given to someone to make up for loss, injury, or work performed. It can be used in both legal and business contexts.
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| recompense |
Often used in more formal or literary contexts to mean payment or reward given for loss, suffering, or effort. It can imply a sense of making things right.
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| payment |
A general term for giving money in exchange for goods, services, or to settle a debt. It can be used in everyday financial transactions.
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| reward |
Typically used in everyday language to refer to something given in return for good behavior or an achievement. It often has a positive connotation.
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Examples of usage
- He received fair remuneration for his services.
- The remuneration for the damages caused by the accident was settled in court.
Interesting Facts
Etymology
- The word comes from the Latin 'remuneratio', which means 'reward' or 'payment'.
- It is formed from 're-' meaning 'again' and 'munerare', which means 'to pay' or 'to give'.
- The term has been used in English since the late 15th century to describe compensation for services.
Economics
- In economic terms, remuneration can include wages, bonuses, and other forms of financial compensation.
- Different sectors of the economy have varying standards for remuneration based on industry practices and regulations.
- Non-monetary benefits, like vacation time or health insurance, are often considered part of total remuneration.
Employment Law
- Employment laws in many countries mandate minimum remuneration levels to protect workers.
- The Fair Labor Standards Act in the U.S. establishes rules for minimum wage and overtime remuneration.
- Issues of equitable remuneration have become central in discussions about gender pay gaps and worker rights.
Cultural Perspectives
- Different cultures have varying expectations regarding remuneration; in some places, additional perks like housing are common.
- In many societies, the fairness of remuneration can reflect broader social values and economic health.
- The concept of remuneration extends beyond money; recognition and respect can also be seen as valuable compensations.
Psychology
- Studies show that perceived fairness in remuneration can significantly impact employee motivation and satisfaction.
- People often equate their self-worth with how much they are paid, influencing their job performance and personal contentment.
- Cognitive dissonance can occur if individuals feel they are not adequately compensated for their efforts, leading to dissatisfaction.
Translations
Translations of the word "remuneration" in other languages:
🇵🇹 remuneração
🇮🇳 प्रतिफल
🇩🇪 Vergütung
🇮🇩 imbalan hasil kerja
🇺🇦 винагорода
🇵🇱 wynagrodzenie
🇯🇵 報酬
🇫🇷 rémunération
🇪🇸 remuneración
🇹🇷 ücret
🇰🇷 보수
🇸🇦 تعويض
🇨🇿 odměna
🇸🇰 odmena
🇨🇳 报酬
🇸🇮 plačilo
🇮🇸 laun
🇰🇿 жалақы
🇬🇪 ანაზღაურება
🇦🇿 əməkhaqqı
🇲🇽 remuneración