seniorityse·ni·or·i·ty /ˌsiːniˈɒrəti-ˈɔː-, -ˈɑː-/ noun [uncountableU]1the fact of being older or higher in rank than someone elseChief judges are chosen by seniority.
2HUMAN RESOURCESthe official advantage someone has because they have worked for an organization for a long timeWorkers with longer seniority get up to three years of benefits.
3FINANCE the situation in which particular loans etc are paid before other loans etc if a company is in financial difficultyPrivileged creditors insisted on the seniority of their loans.