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English definition of “compensation”

compensation

noun uk   /ˌkɒm.penˈseɪ.ʃən/ us    /ˌkɑːm-/

compensation noun (MONEY)

[U] money that is paid to someone in exchange for something that has been lost or damaged or for some problem: She received £40,000 in compensation for a lost eye. You should claim/seek compensation. a compensation claim

compensation noun (EXCHANGE)

[C or U] something that makes you feel better when you have suffered something bad: I have to spend three months of the year away from home - but there are compensations like the chance to meet new people. Free food was no compensation for a very boring evening.

compensation noun (JOB PAYMENT)

[U] the combination of money and other benefits (= rewards) that an employee receives for doing their job: Annual compensation for our executives includes salary and bonus under our incentive plan.
compensatory
adjective uk   /ˌkɒm.pənˈseɪt.əri/ us    /kəmˈpen.səˌtɔːri/
mainly US He was awarded $3 million in compensatory damages.
(Definition of compensation from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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