longevity pay

Popular Terms
A contractual agreement to provide annual compensation to an employee based on seniority. Longevity pay is often given to employees at the top of the pay scale as compensation for their service.

Use 'longevity pay' in a Sentence

Once you have been an employee with us for a long period of time, you will be automatically enrolled into our competitive longevity pay package.
19 people found this helpful
After his many years of service at the company, the president's guarantee of longevity pay was justified but still frowned upon by lower echelon workers.
17 people found this helpful
Persons working for the corporation who have achieved maximum salary for their job title will be supplemented with longevity pay bonus.
15 people found this helpful

Email Print Embed