Definition, Meaning & Synonyms

financial compensation

noun

/faɪˈnænʃl ˌkɒmpənˈseɪʃən/

Definition

Financial compensation refers to the monetary payment or benefits provided to an employee or individual as a reward for their work, services, or in exchange for being harmed.

Examples

After the accident, she received financial compensation to cover her medical expenses.
The company offers financial compensation to employees who work overtime.
He filed a claim for financial compensation due to his wrongful termination.