Travesty as salary is split by staff (6)
I believe the answer is:
parody
'travesty' is the definition.
('parody' can be a synonym of 'travesty')
'salary is split by staff' is the wordplay.
'salary' becomes 'pay' ('pay' can be a synonym of 'salary').
'is split by' is an insertion indicator.
'staff' becomes 'rod' (I've seen this before).
'pay' going around 'rod' is 'PARODY'.
'as' acts as a link.
(Other definitions for parody that I've seen before include "Comic imitation of, say, well-known literary style" , "Humorous misrepresentation" , "Exaggerated imitation of a particular genre" , "Send up" , "Takeoff" .)