The term "comp" has multiple meanings depending on the context:
- Complimentary or Free of Charge : "Comp" is often short for "complimentary," meaning something given for free, such as tickets, meals, or hotel rooms provided without charge. For example, a restaurant or casino might "comp" a customer to encourage goodwill or patronage
- Compensation : Informally, "comp" can also be short for "compensation," especially in contexts like "workers' comp," referring to payments for work-related injuries
- Comparison or Comparable : In business and finance, "comps" refers to comparables used to evaluate performance or value. For instance, in retail, "comps" or same-store sales compare current sales to previous periods to measure growth excluding new stores. In real estate, "comps" are similar properties used to assess market value. In financial analysis, "comps" means comparable company analysis to value a business based on peers
- Music : In music, "comp" can mean accompaniment, especially in jazz, or the act of playing chords to support a soloist
- Computing and Other Uses : "Comp" can refer to commands in computer systems that compare files, or be an abbreviation for terms like compilation, compiler, comparative, or composition
In summary, "comp" generally means either something given free of charge, a form of compensation, a comparison metric in business, or an accompaniment in music, depending on the context.