competitive compensation

USAGE SUMMARY

The phrase "competitive compensation" is correct and usable in written English.
It can be used when discussing salary and benefits that are attractive compared to industry standards or competitors. Example: "Our company offers competitive compensation to attract top talent in the industry."

✓ Grammatically correct

Academia

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

59 human-written examples

In the last and final formula of - 48/(py^2+0.5)), we have a take-back where we are losing business to our competition on marketing savvy, packaging, discounting, sales force motivation, competitive compensation etc. -- on mega sales only.

WikiHow

Design competitive compensation.

Harvard Business Review

Competitive compensation is just the beginning.

Harvard University

Competitive compensation that is negotiable depending on experience.

Cornell University

Our salaries are market-based, and we use many methods to determine fair, competitive, compensation packages".

The New York Times

Competitive compensation is necessary to attract and keep the best people.

The New York Times

A competitive compensation package is offered including medical, dental, 401-k, and generous CE.

Cornell University

There's more to building a competitive compensation package than cold hard cash.

Massachusetts Institute of Technology

Competitive compensation and an exceptional array of benefits are available to the right candidate including relocation.

Cornell University

The board awarded him the pay, the proxy said, based on his performance and factors "including competitive compensation information".

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

1 human-written examples

We also have several programs that support our efforts to recruit and retain the best, including market-competitive compensation, opportunities for personal and professional growth, and a team-oriented culture that encourages creativity, decision making, and entrepreneurial spirit".

Science Magazine

Expert writing Tips

Best practice

Use "competitive compensation" as a key element to attract and retain high-quality employees, especially in competitive industries.

Common error

Avoid simply stating that you offer "competitive compensation" without providing details. This can sound generic and fail to attract top talent. Instead, highlight the unique aspects of your compensation package.

Linguistic Context

The phrase "competitive compensation" functions primarily as a noun phrase, where the adjective 'competitive' modifies the noun 'compensation'. Ludwig confirms this is a standard and accepted usage.

Expression frequency: Very common

Frequent in

Academia

34%

News & Media

32%

Formal & Business

18%

Less common in

Science

10%

Wiki

4%

Reference

2%

Ludwig's WRAP-UP

In summary, "competitive compensation" is a widely used and grammatically sound phrase that is very common for attracting talent across different sectors. According to Ludwig, it is used to signal that a company offers a remuneration package that is at par with or better than industry standards. To effectively use the phrase, be sure to provide specifics about the salary and benefits included. Remember not to overuse the term without providing concrete details, and always consider the context in which it is used to ensure it aligns with your overall message.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

attractive compensation

Emphasizes the appeal of the compensation package.

market-rate pay

Focuses on aligning pay with current market standards.

competitive salary and benefits

Explicitly includes both salary and benefits in the compensation package.

lucrative remuneration

Highlights the financial rewards of the compensation.

generous compensation package

Stresses the abundance and value of the overall compensation.

fair compensation

Highlights the justness and equity of the payment.

industry-standard compensation

Focuses on meeting the typical compensation levels within a specific industry.

premium compensation

Implies a higher-than-average level of payment.

appealing compensation

Focuses on the attractiveness and desirability of the compensation.

equitable compensation

Stresses fairness and impartiality in the compensation structure.

FAQs

What does "competitive compensation" mean in a job description?

In a job description, "competitive compensation" indicates that the employer offers a salary and benefits package that is on par with or better than what similar companies in the same industry and location provide. It aims to attract qualified candidates by offering appealing remuneration.

What are some alternatives to saying "competitive compensation"?

You can use alternatives like "attractive compensation", "market-rate pay", or "generous compensation package" depending on the context.

How is "competitive compensation" determined?

"Competitive compensation" is typically determined by researching industry standards, considering the cost of living in the area, evaluating the candidate's experience and skills, and assessing what competitors are offering. Companies often use salary surveys and benchmarking data to set their compensation levels.

Why is offering "competitive compensation" important for employers?

Offering "competitive compensation" is crucial for attracting and retaining talented employees. It helps companies stand out in the job market, reduce employee turnover, increase employee satisfaction, and improve overall productivity and morale.