Legal Definitions - perquisite

A perquisite, often shortened to "perk," refers to a special privilege, benefit, or advantage provided to an individual, typically in addition to their regular salary or wages. These are often non-cash benefits that enhance the individual's overall compensation package or working conditions.

• Example 1: A senior executive at a multinational corporation receives an annual salary of $500,000. Beyond this, the company provides a chauffeured luxury car for both business and personal use, a membership to an exclusive golf club, and an allowance for a personal chef.

  Explanation: The chauffeured car, golf club membership, and personal chef allowance are all perquisites. They are valuable benefits and privileges offered by the company that go beyond the executive's base salary, significantly enhancing their overall compensation and lifestyle.

• Example 2: A head chef at a high-end restaurant, in addition to their competitive salary, is provided with a fully furnished apartment located above the restaurant and a daily allowance for ingredients to experiment with new dishes at home.

  Explanation: The rent-free, furnished apartment and the ingredient allowance are perquisites. These are specific benefits that add considerable value to the chef's employment package, offering convenience and resources beyond their direct wages.

• Example 3: A long-serving editor at a prestigious publishing house earns a good salary. As part of their employment terms, they receive an annual budget for international travel to literary festivals, and their personal book purchases are fully reimbursed by the company.

  Explanation: The travel budget for literary festivals and the reimbursement for personal book purchases are perquisites. These are privileges and benefits provided by the publishing house that supplement the editor's standard salary, enriching their professional development and personal interests.