Definition, Meaning & Synonyms
monetary compensation
noun
ˈmɒn.ɪ.tər.i ˌkɒm.pənˈseɪ.ʃən
Definition
Payment or remuneration given to an individual for services rendered, losses incurred, or injuries sustained, typically expressed in terms of money.
Examples
- The company offered monetary compensation to employees affected by the layoffs.
- After the accident, she received monetary compensation for her medical bills.
- He sought monetary compensation for his lost wages during the trial.
Meaning
Monetary compensation refers to the financial rewards provided to someone in exchange for their work, service, or as a result of a legal settlement or judgment.
Synonyms
- financial payment
- remuneration
- reimbursement
- settlement
