seniority

seniority
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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Look at other dictionaries:

  • Seniority — is the concept of a person or group of people being in charge or in command of another person or group. This control is often granted to the senior person(s) due to experience or length of service in a given position, but it is not uncommon for a …   Wikipedia

  • seniority — se·nior·i·ty /sēn yȯr ə tē/ n 1: the quality or state of being senior 2: the senior status attained by length of continuous service (as in a company); also: the length of such continuous service Merriam Webster’s Dictionary of Law. Merriam… …   Law dictionary

  • Seniority — Sen*ior i*ty, n. The quality or state of being senior. [1913 Webster] …   The Collaborative International Dictionary of English

  • seniority — priority on office or service, mid 15c.; see SENIOR (Cf. senior) + ITY (Cf. ity) …   Etymology dictionary

  • seniority — [n] rank in organization due to length of service advantage, antiquity, eldership, precedence, preference, priority, rank, ranking, standing, station, superiority; concepts 671,727 …   New thesaurus

  • seniority — [sēn yôr′ə tē, sēnyär′ə tē] n. pl. seniorities [ML senioritas] 1. the state or quality of being senior; precedence in birth, rank, etc. 2. status, priority, or precedence achieved by length of service, as in a given job …   English World dictionary

  • seniority — noun VERB + SENIORITY ▪ have ▪ lose SENIORITY + NOUN ▪ system ▪ It is believed that the seniority system reduces competition between co workers. PREPOSITI …   Collocations dictionary

  • Seniority — The order of repayment. In the event of bankruptcy, senior debt must be repaid before subordinated debt is repaid. The New York Times Financial Glossary * * * seniority se‧ni‧or‧i‧ty [ˌsiːniˈɒrti ǁ ˈɔː , ˈɑː ] noun [uncountable] 1. the fact of… …   Financial and business terms

  • seniority — n. according to, by seniority (to promote according to seniority) * * * [ˌsiːnɪ ɒrɪtɪ] by seniority (to promote according to seniority) according to …   Combinatory dictionary

  • seniority — se|ni|or|i|ty [ˌsi:niˈɔrıti US ˈo: , ˈa: ] n [U] 1.) if you have seniority in a company or organization, you have worked there a long time and have some official advantages ▪ I had fifteen years seniority , and they couldn t fire me. 2.) when you …   Dictionary of contemporary English

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