fringe benefit

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fringe benefit

A company offers health insurance as a fringe benefit to its employees.

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.
fringe benefit

A company offers health insurance as a fringe benefit to its employees.

Noun
  1. an incidental benefit awarded for certain types of employment (especially if it is regarded as a right)
    • a limousine is one of the fringe benefits of the job

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