Quick Answer
Perquisites are extra perks or benefits that come with a job, beyond your basic pay. Think of things like a company car or a staff discount. It's interesting because these aren't just random bonuses; they're often seen as an expected part of the role for certain positions, reflecting the status or responsibilities involved.
In a hurry? TL;DR
- 1Perquisites are special rights or privileges tied to a position, distinct from regular salary or performance bonuses.
- 2Unlike perks (like free coffee), perquisites (like diplomatic immunity) are expected structural advantages of an office.
- 3Perquisites represent inherent value and status, often remaining static regardless of individual performance.
- 4Companies use perquisites as a tax-efficient way to provide value to high-level employees beyond their base salary.
- 5Understanding perquisites helps differentiate between earned rewards and the invisible advantages of specific roles.
- 6The modern focus on workplace culture can be seen as an 'arms race' of increasingly elaborate perquisites.
Why It Matters
Perquisites are interesting because they reveal the often-hidden, entitled extras that come with status, going beyond mere salary to define a role's true benefits.
A perquisite is a specific benefit, privilege, or profit incidental to regular wages or salary. It is the formal ancestor of the modern perk, representing the extra rights granted to someone by virtue of their status or office.
The Quick Reference
- Part of Speech: Noun
- Phonetic Spelling: PUR-kwuh-zit (/ˈpɜːrkwɪzɪt/)
- Definition: A special right or privilege enjoyed as a result of one's position.
- Related Terms: Perks, fringe benefits, prerogatives.
Why It Matters
Understanding perquisites allows you to distinguish between earned bonuses and the inherent, often invisible advantages that come with specific social or professional roles.
The Power of the Extra
While we usually shorten this word to perk, the full term perquisite carries a weight of entitlement and history that its diminutive cousin lacks. A perk feels like a lucky extra, such as free coffee in the breakroom. A perquisite feels like a structural right, such as a diplomat’s immunity or a CEO’s private jet access.
The word fills a specific gap in English by describing things that are not strictly pay, but possess clear value. Unlike a tip or a gift, a perquisite is expected. It is tied to the seat you occupy rather than the specific task you just completed. In corporate governance, these are often the points of contention during contract negotiations, as they represent the lifestyle of the role rather than the output of the individual.
In contrast to regular incentives, perquisites often remain static regardless of performance. According to research published by the Harvard Business Review, executive perquisites are frequently used as a tax-efficient way to deliver value to high-level employees without increasing their visible liquid salary.
Examples in Context
- Diplomatic Immunity: The most significant perquisite of a foreign envoy is the legal protection provided by the host country.
- The Corner Office: For many mid-level managers, the primary perquisite of a promotion is the square footage and window view of their new workspace.
- Literary Access: One of the perquisites of being a book reviewer is receiving advanced reader copies months before the general public.
- Royal Rights: Historically, a perquisite of the British Crown included the ownership of all mute swans found on open waters.
Synonyms and Antonyms
- Synonyms: Prerogative, bonus, advantage, fringe benefit, dividend.
- Antonyms: Requirement, duty, liability, disadvantage, penalty.
Usage Tips
- Formal Settings: Use perquisite in legal or formal business writing to sound precise. Save perk for casual conversation or marketing copy.
- Distinct from Prerogative: A prerogative is a right to act or decide; a perquisite is a tangible or intangible benefit received.
- Distinguish from Requisite: Do not confuse the two. A requisite is something required or necessary; a perquisite is an extra benefit.
What is the difference between a perk and a perquisite?
They are technically the same word, but perk is the casual clipping of perquisite. In modern usage, perquisite is reserved for formal contracts and high-level legal privileges.
Are perquisites taxable?
In many jurisdictions, yes. Tax authorities often view substantial perquisites, such as company cars or housing allowances, as fringe benefits that constitute taxable income.
Can perquisites be non-monetary?
Absolutely. Status-based perquisites, such as being addressed by a specific title or having priority boarding, carry no direct cash value but remain highly sought after.
Key Takeaways
- Origin: Derived from Latin for things thoroughly sought or acquired.
- Nature: Incidental to a position, not the primary focus of the work itself.
- Scope: Ranges from small office comforts to significant legal immunities.
- Distinction: Represents a right of office rather than a performance-based reward.
Example Sentences
"The CEO's contract included lavish perquisites, such as a company-provided luxury car and a generous expense account."
"Diplomatic immunity is a significant perquisite enjoyed by ambassadors, allowing them to perform their duties without fear of local prosecution."
"One of the perquisites of being a university professor is the access to extensive research facilities and a sabbatical leave every few years."
"The junior staff often grumbled about the senior management's numerous perquisites, feeling they were unfairly distributed."
"While not strictly salary, the free accommodation and utilities were valuable perquisites that made the job offer very attractive."
Frequently Asked Questions
Sources & References
Merriam-WebsterThis source provides the definition, pronunciation, and usage examples for 'perquisite'.merriam-webster.com- 2Online Etymology DictionaryThis source details the etymology of 'perquisite', tracing its origins back to Latin and its semantic development.etymonline.com
- 3Collins DictionaryThis source offers definitions, synonyms, and usage examples for 'perquisite' in contemporary English.collinsdictionary.com