Which term refers to special non-monetary privileges that come with senior job positions; also called executive perks or fringe benefits?

Which term refers to special non-monetary privileges that come with senior job positions; also called executive perks or fringe benefits?

• A. Perquisites (Perks)
• B. Phantom Stock Arrangement
• C. Performance Management System
• D. PEST Analysis

Answer: (A)

Non-monetary privileges that come with senior roles are called perquisites, or executive perks. These are benefits beyond salary that enhance the overall compensation package, such as a company car, club memberships, executive expense accounts, or relocation assistance. Perquisites are distinct from direct monetary pay yet add significant value to a top employee’s rewards. The other terms refer to different concepts: a phantom stock arrangement is a form of long-term incentive tied to stock value without giving real shares; a performance management system focuses on setting goals and evaluating performance; PEST analysis examines external macro-environment factors.

Non-monetary privileges that come with senior roles are called perquisites, or executive perks. These are benefits beyond salary that enhance the overall compensation package, such as a company car, club memberships, executive expense accounts, or relocation assistance. Perquisites are distinct from direct monetary pay yet add significant value to a top employee’s rewards. The other terms refer to different concepts: a phantom stock arrangement is a form of long-term incentive tied to stock value without giving real shares; a performance management system focuses on setting goals and evaluating performance; PEST analysis examines external macro-environment factors.