fringe benefit
Definition
Noun: An additional benefit or advantage provided to an employee, beyond their regular salary or wages. These benefits are often considered part of the total compensation package and can be seen as a right or standard offering for certain types of employment.
Usage
A "fringe benefit" is a non-wage compensation provided to employees. It is used to describe perks that supplement an employee's main income. * The company offers excellent health insurance as a fringe benefit. * One of the best fringe benefits of this position is the generous retirement plan. * These fringe benefits are considered taxable income in some countries.
Advanced Usage
- Collective bargaining context: Fringe benefits are often a key point of negotiation between unions and employers.
- The union's demands focused on improving fringe benefits like paid parental leave.
- As a distinguishing factor: Used to compare the attractiveness of different job offers or employment sectors.
- The salary was lower, but the fringe benefits package was far superior.
Variants and Related Words
- Benefit (n): A general term for an advantage or profit gained from something. "Fringe benefit" is a specific type of benefit related to employment.
- Perk (n, informal): A synonym for "fringe benefit," often implying a special advantage or privilege.
- Free lunches are a popular perk at many tech companies.
- Perquisite (n, formal): A formal term for a benefit, especially one regarded as a privilege.
- Compensation package (n): The complete pay and benefits offered to an employee, including salary, bonuses, and all fringe benefits.
Synonyms
- Employee benefit
- Perk (informal)
- Perquisite (formal)
- Extra
- Advantage
Related Phrases
- Benefits package: A more common modern term that encompasses all employee benefits, including fringe benefits.
- You should review the full benefits package before accepting the job offer.
Noun
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an incidental benefit awarded for certain types of employment (especially if it is regarded as a right)
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a limousine is one of the fringe benefits of the job
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