This term refers to increase in compensation for a person. Most commonly it is an increase in salary, but it is also possible to get an increase in bonus, stock, or benefits.
Example: The employee started to interview for new jobs. After he talked with the recruiter, he was expecting a 25% pay bump.
Variations: salary bump
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Jargonism is a Business English dictionary. You can learn about words and phrases that are commonly used in the workplace like Circle Back, Thought Leader, and Offsite. We also have a Word of the Day, which is a daily Business English vocabulary word that is commonly used in the workplace.
On this site, we also have templates on how to communicate effectively at work, such as requesting PTO, declining a promotion, and taking a sick day.
Date: 08/02/2021
Word: Close It Out
Definition: To mark something as completed.
Example: This task has been fixed, so let's close it out within the task tracker.