2006-08-29 09:30:26 · 3 answers · asked by Boltez 1 in Business & Finance ➔ Careers & Employment
In my business it is the amount of money we make.
2006-08-29 09:34:12 · answer #1 · answered by gatorgirl 5 · 0⤊ 0⤋
A compensation plan is base salary, bonus if any, number of vacation days, number of paid sick days, health plans, profit sharing and/or 401K plans with matching if any. Depending on your level it may include stock purchasing, stock options, country club fees, health club membership, life insurance, medical coverage, etc. These benfits are real dollars that you may pay out of pocket in some companies. The reality is if you compare similar job with similar base salaries you then need to go further and look into these perks. A simple example would be vacation days - some firms start you off with 2 while another firm will give you 3 weeks. Another would be medical coverage - some firms will go 50-50 with you while another firm will absorb the total cost like Starbucks.
2006-08-29 09:55:44 · answer #2 · answered by Bichon Panderer 2 · 1⤊ 0⤋
when I hear someone's pay being called a compensation plan it makes me think of my old job. Continually changing targets and percentages that usually end up with you making the same amount of money regardless of your efforts.
2006-08-29 09:48:37 · answer #3 · answered by Norman 7 · 0⤊ 0⤋