A total compensation statement is something many employers opt to provide to employees to quantify and communicate the monetary value of their full compensation package. Also known as a total rewards statement or a “hidden paycheck,” a total compensation statement would include base pay plus bonuses/incentives, and also could include the quantified value of benefits like PTO, health insurance premiums paid by the employer, all other insurance premiums paid by the employer, employer retirement plan contributions, value of employer-sponsored equipment (such as phones, computers, etc.), value of memberships or discounts offered by the employer, and more.
