- The definition of compensation is something of value given in exchange for something else.
- The money a company pays to its employee to do work is an example ofcompensation.
- When a person gets into a car accident and injures someone, the money he pays to the injured victim for his losses is an example ofcompensation.
compensation definition by Webster's New World
- a compensating or being compensated
- anything given as an equivalent, or to make amends for a loss, damage, unemployment, etc.; recompense
- payment for services; esp., wages or remuneration
- Biol. the counterbalancing of a defect in the structure or function of a part by greater activity in or development of one or more other parts
- Psychol. a mechanism by which an individual seeks to make up for a real or imagined psychological defect by developing or exaggerating a psychological strength
Origin: Middle English compensacioun ; from Classical Latin compensatio
Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.
- compensational adjective
compensation definition by American Heritage Dictionary
The American Heritage® Dictionary of the English Language, 4th edition Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
- The act of compensating or the state of being compensated.
- Something, such as money, given or received as payment or reparation, as for a service or loss.
- Biology The increase in size or activity of one part of an organism or organ that makes up for the loss or dysfunction of another.
- Psychology Behavior that develops either consciously or unconsciously to offset a real or imagined deficiency, as in personality or physical ability.
- comˌpen·saˈtion·al adjective
compensation - Business Definition
The American Heritage® Dictionary of Business Terms Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Monetary and nonmonetary payment given or accepted in return for a service or a loss.
compensation - Legal Definition
Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey. Used by arrangement with John Wiley & Sons, Inc.
- Payment for work done.
- Payment for injury, loss, or otherwise depriving a person of something he or she is entitled to. See also damages.
- Payment at some agreed time in the future for work already done.
- Payment for work done paid in a tax year subsequent to when the payment is earned or paid in a manner, such as contributing to a qualified pension or profit-sharing plan, that postpones the employee’s tax liability for the payment.
The compensation to a property owner required by the Fifth Amendment to the United States Constitution whenever a state government or the federal government takes possession of private property by means of eminent domain for public use. Generally, the amount of compensation is the market value of the property at the time of the taking. See also eminent domain.
compensation - Medical Definition
- A process in which a tendency for a change in a given direction is counteracted by another change so that the original change is not evident.
- An unconscious psychological mechanism by which one tries to make up for imagined or real deficiencies in personality or physical ability.