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.
Meaning
The term conveys the idea of receiving money or benefits to offset loss, injury, or the efforts of someone.
Synonyms
- monetary compensation
- remuneration
- reimbursement
- indemnity
- financial reward
