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Base Salary
The initial rate of compensation an employee receives in exchange for services, not including additional bonuses, benefits, or overtime.
Pay Perception
An individual's understanding and evaluation of how their compensation compares to others and its fairness, adequacy, and alignment with their contributions.
Skill-Based Pay System
A compensation strategy where employees are paid based on the skills, knowledge, and capabilities they bring to their job, rather than their job title or position alone.
Pay Ranges
The spectrum of compensation an employer is willing to offer for a specific job, measured from minimum to maximum, based on factors like experience and skill level.
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