According to the US DOL, Compensationday is more inclusive

The US Department of Labor has joined other administrative branches in their fight to control language. They have quietly replaced the word “payday” throughout the entire website with a newly coined term, “compensationday”. In an internal email from Chief Diversity & Equity Officer, Alaysia Hackett, the change was described as an overdue improvement. “The term payday may be offensive to marginalized communities who have systemically been excluded from the workforce. People who receive compensation rather than a paycheck should not be excluded from labor conversations just because they do not work. Therefore, it is no longer acceptable to use the term payday. Instead, you should adhere to department policy which finds compensationday is more inclusive”