What comes with seniority at your place of work?

At my job we (re)make our schedules every six months and those with the highest seniorities get to go first, which seems to be really important to a lot of the people with whom I work. I’m not sure what other perks they get because I haven’t been there long, but I know they do get more than just first dibs on their schedules.

Just out of curiosity, what sorts of perks or entitlements do people with high seniority (as in years of service, regardless of title) enjoy at your place of work? And where do you stack up on the seniority totem pole?