Legal Definitions - perk

A "perk" is an informal, commonly used term for a perquisite. A perquisite refers to a special benefit, privilege, or advantage received by an individual in addition to their regular salary or wages, often due to their employment, position, or status. These benefits are typically non-monetary but hold significant value and are considered part of the overall compensation package or the advantages of a particular role.

• Example 1: Executive Benefits

  A senior executive at a technology company receives a company-provided luxury car, a membership to an exclusive golf club, and an annual allowance for international travel for personal use, all in addition to their substantial salary.

  Explanation: These additional benefits, such as the car, golf club membership, and travel allowance, are "perks" because they are valuable advantages provided to the executive beyond their standard pay, directly linked to their high-level position within the company.

• Example 2: Employee Wellness Programs

  An advertising agency offers its employees free on-site yoga classes, subsidized healthy meals in the cafeteria, and a generous budget for professional development courses each year.

  Explanation: The yoga classes, subsidized meals, and professional development budget are "perks" that enhance the employees' well-being and skills, providing value that goes beyond their regular wages and contributes to a more attractive work environment.

• Example 3: Industry-Specific Privileges

  The manager of a popular concert venue is given complimentary tickets to all events held at the venue, along with backstage access and opportunities to meet performing artists.

  Explanation: The free tickets, backstage access, and artist meeting opportunities are "perks" directly tied to the manager's role. They are valuable privileges that come with the job, distinct from their salary, and are a significant advantage of working in that specific industry.