What is the difference between benefits and compensation?
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Benefits are typically the medical benefits and coverage you have. For example, when you go to the doctor, insurance covers some of the cost. This is a benefit offered to you by your employer. However, benefits can also include things like a wellness reimbursement. Some companies offer benefits for employees to submit reimbursement for things like running shoes, a massage or the use of a mental health counselor. Compensation is the money you are paid for doing your job. This includes your base salary and any additional compensation you may receive such as commissions or a bonus.
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