A definition for Compensation Package.

A compensation package is the combination of salary and fringe benefits an employer provides to an employee. When evaluating competing job offers, a job-seeker should consider the total package and not just salary.

There is almost an unlimited number of potential benefits packages offered by employers. Some employers offer them at the employee's expense, some pay all of the costs, some pay part of the costs. Benefits include such things as vacation days, sick days, personal days, paid company holidays, pension plans, stock ownership plans, health insurance, dental/eye insurance, life insurance, and more.