Seniority

Sen-ior′i-ty

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Noun.

The quality or state of being senior.

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Noun.

1. Eldership; superior age; priority of birth. He is the elder brother, and entitled to the plae of seniority.

2. Priority in office; as the seniority of a pastor or counselor.

seniority ‎(countable and uncountable, plural seniorities)

A measure of the amount of time a person has been a member of an organization, as compared to other members, and with an eye towards awarding privileges to those who have been members longer.
It's an old-fashioned company, with parking spaces and other perks doled out on the basis of seniority.

time