Aguinaldo

Part of speech: noun

Pronunciation: /ɑːɡɪˈnɑːldoʊ/

Definitions

1. A customary financial reward granted to workers as a year-end bonus during festive periods
2. An additional payment or gift of money given to employees, commonly observed in various cultural celebrations at year-end
3. A traditional monetary gift or bonus given to workers during festive seasons to recognize their hard work and contributions

Etymology: Spanish "aguinaldo" is a word with a long history of its own: it was a gift or tribute, and in medieval Spain it meant a payment made at the new year or a festive occasion. Its exact ancestry is debated, with some scholars linking it to Old Spanish and others to Latin or Arabic sources, so the safest statement is simply that it came into Spanish as a seasonal gift term. English borrowed it directly from Spanish, and the Spanish word kept its festive flavour, which is why the English version still points to the Christmas and New Year season. The meaning in English is narrower and more practical than the Spanish sense. Where the Spanish word could describe any gift at the turn of the year, the English term settled on the bonus paid to workers at that season, a reward for their labour over the past year. The gift became tied to employment, and the custom of giving it at Christmas or New Year is what gives the word its shape today.