Salary - Your normal weekly pay for working. The word come from the Latin word, salarium. It was the Roman soldiers pay in salt - a tradeable commodity. Benefit - Any value you receive, such as medical insurance or a retirement plan. It is usually understood (in terms of compensation for working) to be in addition to your salary. Bonus - An added compensation usually based on individual, group or company performance. Premium - Additional compensation beyong the normal, such as double pay for working a holiday. Incentive - Compensation that is dependant upon meeting or exceeding a performance target. A salesman might get 10% commision for $1,000 in monthly sales, but 15% if they exceed $2,000 a month.