What is the difference between bonus and reward?

Definitions

bonus

- Referring to an additional sum of money given to an employee as a reward for good performance or as an incentive.

- Talking about an extra benefit or advantage that is given in addition to what is expected or earned.

- Describing a special gift or perk given as a token of appreciation or encouragement.

reward

- Referring to something given in recognition of someone's effort, achievement, or good behavior.

- Talking about a prize or gift given as an incentive or motivation to encourage certain actions or behaviors.

- Describing the positive outcome or consequence of completing a task or reaching a goal.

List of Similarities

• 1. Both involve receiving something in recognition of effort or achievement.
• 2. Both can serve as incentives to motivate people.
• 3. Both are positive outcomes or consequences.
• 4. Both can be given in various contexts such as work, school, or personal achievements.
• 5. Both can be seen as forms of appreciation or encouragement.

What is the difference?

• 1. Nature: Bonus is typically a financial or material benefit, while reward can be non-monetary, such as recognition or praise.
• 2. Timing: Bonus is often given at specific times, such as annually or as a one-time payment, while reward can be given at any time.
• 3. Purpose: Bonus is often given as an incentive for good performance or to retain employees, while reward can be given for various reasons, including effort, achievement, or behavior.
• 4. Expectation: Bonus is often expected or promised based on certain criteria, while reward can be unexpected or spontaneous.
• 5. Usage: Bonus is commonly used in professional or business contexts, while reward can be used in both formal and informal settings.

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Remember this!

Bonus and reward are synonyms that both refer to receiving something in recognition of effort or achievement. However, there are some differences between the two. A bonus is typically a financial or material benefit given at specific times as an incentive or token of appreciation in professional contexts. On the other hand, a reward can be non-monetary and given at any time to recognize effort, achievement, or good behavior in various settings.