compensation

money that is paid to someone in exchange for something that has been lost or damaged or for some problem:

She received £40,000 in compensation for a lost eye.

You should claim/seek compensation.

a compensation claim

something that makes you feel better when you have suffered something bad:

I have to spend three months of the year away from home - but there are compensations like the chance to meet new people.

Free food was no compensation for a very boring evening.

Annual compensation for our executives includes salary and bonus under our incentive plan.

the combination of money and other benefits (= rewards) that an employee receives for doing their job: