Glossary
Compensation and Benefits Specialist Terms & Vocabulary
15 essential compensation and benefits specialist terms with plain-English definitions: the vocabulary you’ll hear in training and on day one.
Key compensation and benefits specialist vocabulary
These 15 terms come up constantly in compensation and benefits specialist training, on the job and in interviews. Knowing them helps you follow instructions, document accurately and sound prepared.
- Aging data
- Updating survey data to a date.
- Benchmark job
- Common job used for comparison.
- Benefits enrollment
- Choosing benefits.
- COBRA
- Continued health coverage.
- Deductible
- Amount paid before insurance.
- FLSA status
- Overtime eligibility.
- FSA
- Flexible spending account.
- HSA
- Health savings account.
- Job analysis
- Studying what a job involves.
- Job description
- Written duties and requirements.
- Pay compression
- Small gaps between pay levels.
- Pay grade
- Group of jobs with the same range.
- Insurance cost.
- Qualifying life event
- Change allowing benefits changes.
- Salary survey
- Market pay data.
Practice these terms
Test yourself with the free Compensation and Benefits Specialist practice test: it includes vocabulary questions built from this list. For a complete course, see Compensation and Benefits Specialist training.
Browse terms from every career in our career glossary.