For a long time I have been under the impression that bringing home a salary at the end of the month is what I can get out of a job. It is also customary to express money earned per year as compensation. It was not until one of my friends in HR explained to me the difference between compensation and salary and I should always look whether I am being compensated or not.
How do I know if I am adequately compensated? The workplace must compensate us for what we are doing at the office so that we don’t regret not pursuing hobbies or holidays. Salary enables us to take care of all the basic necessities in day to day life. If we are just salaried and not compensated, we may end up not having a balance between work and life. Adequate compensation takes into account working hours, long term benefits (including health and wellness), salary, brand, peers and many more parameters. Over the course of the time our priorities change, so do our needs on parts of the compensation; we should keep in mind not to be misled by just tracking one of the parameters of the compensation.