The order of repayment. In the event of bankruptcy, senior debt must be repaid before subordinated debt is repaid. Bloomberg Financial Dictionary

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seniority se‧ni‧or‧i‧ty [ˌsiːniˈɒrti ǁ -ˈɔː-, -ˈɑː-] noun [uncountable]
1. the fact of being older or higher in rank than someone else:

• Chief judges are chosen by seniority.

2. HUMAN RESOURCES the official advantage someone has because they have worked for an organization for a long time:

• Workers with longer seniority get up to three years of benefits.

3. FINANCE the situation in which particular loans etc are paid before other loans etc if a company is in financial difficulty:

• Privileged creditors insisted on the seniority of their loans.

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seniority UK US /ˌsiːniˈɒrəti/ noun [U]
the length of time you have worked for an organization, and the advantages that you get from this: »

Several people who had 30 years' seniority took the $140,000 lump sum on retiring.


Pay ranges from $23,000 to $110,000 a year, depending on duties and seniority.

the situation of having a higher rank than someone else in an organization: »

position of seniority.

Financial and business terms. 2012.

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