when the pay that workers in one organization receive is similar to that of other workers doing a similar job in other organizations
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external equity UK US noun [U] (also external competitiveness)
► HR the situation in which employees of a company receive pay that is fair, when it is compared to the pay of employees in other companies who do the same job: »
Among retail salespersons, internal equity was found to be more important to their job satisfaction than external equity.
Financial and business terms. 2012.