What is another word for merit pay?
Pronunciation: [mˈɛɹɪt pˈe͡ɪ] (IPA) 
Merit pay is a system of pay based on performance. There are many synonyms for merit pay, including performance-based pay, incentive pay, commission-based pay, outcome-based pay, reward-based pay, and results-based pay. These synonyms all refer to a system in which an employee's pay is based on their performance rather than their seniority or fixed salary. The goal of merit pay is to incentivize employees to work harder and improve their performance, which in turn benefits the company. These synonyms all emphasize the importance of rewarding good performance, and they underline the key role that performance can play in determining an employee's compensation.
