This work proposes modifications to the existing system for identifying the steps of embryonic and larval development in fish. The term “compensatory phase of development” is proposed for the phase from hatching to the first intake of food. Both the new designations of these steps and the new name of this phase do not require a declaration of whether the hatched individual is considered to be an embryo or a larva, something that has been, to date, a matter of dispute. Unification will allow for the wider use of the new nomenclature, and make easier the comparison of results. This work examines the influence of the thermal history during the embryonic period (temperatures of 20, 24, 28, and 32°C) on later development, growth, and survival of common carp, Cyprinus carpio L., and grass carp, Ctenopharyngodon idella (Val.) larvae, at a constant temperature of 23°C. It was confirmed that the optimal temperature ranges for the embryonic development of common carp and grass carp are higher than those currently applied widely in practice of 18-22°C and 21-26°C, respectively. Based on the evaluation of the development, growth, and survival of the larvae, it was determined that the optimal temperature for embryonic development is 26-28°C for the common carp and 32°C for the grass carp. It was confirmed that even a short-term increase in temperature from 20°C to 24°C during the compensatory phase has a positive influence on subsequent common carp larvae growth.