What is Total Remuneration?
‘Total Remuneration’ refers to the monetary benefits provided to an employee by the company excluding non-monetary benefits. Generally speaking, it is considered to be a sum of the base pay of the employee and the additional incentives and bonuses provided while excluding the non-financial benefits.
Total remuneration includes several different aspects such as base pay, incentive pay, other bonuses, stock options, pension plans, social security tax payments, relocation expenses, food stipends, health insurance, dental insurance, gym memberships, etc.
Companies nowadays are concentrating more on non-financial benefits in order to appeal to the candidates and attract the best talent.