Empty Suit

DEFINITION of 'Empty Suit'

Someone who is high up in a company due to unfair hiring practices, such as nepotism, and doesn't really do anything for the company. It could also refer to someone who makes themselves out to be much more able or important than they really are. Generally, the term is used to describe someone who is not particularly good at their job.

BREAKING DOWN 'Empty Suit'

Empty suits can be found in many large organizations. Incompetent employees who know how to work the system can climb into positions of authority that they really don't deserve or aren't able to maintain effectively. Some consider governmental positions to be commonly filled by empty suits that were appointed for political reasons.

RELATED TERMS
  1. Recession Rich

    A slang term used to describe an individual who manages to do ...
  2. Priced Out

    The state of being unable to invest in a particular market or ...
  3. Pundit

    A person that publicly expresses their opinions or comments on ...
  4. Unfair Trade Practice

    Using various deceptive, fraudulent or unethical methods to obtain ...
  5. Sharing Economy

    An economic model in which individuals are able to borrow or ...
  6. Odd Lotter

    An individual investor who buys securities, usually stocks, in ...
Related Articles
  1. Investing Basics

    Will Nepotism Kill Wal-Mart? (WMT, AMZN)

    Wal-Mart recently appointed Greg Penner, grandson-in-law of its founder to the post of Board Chairman. Should investors be concerned about nepotism?
  2. Entrepreneurship

    Starting A Small Business: Hiring Employees

    By Amy Fontinelle For some businesses, employees are a necessity right off the bat - it's impossible to run a popular restaurant or even a small coffee shop single-handedly. For other businesses, ...
  3. Mutual Funds & ETFs

    The Knowledge-Experience Continuum: Where Do You Fall?

    Theory and practice are worlds apart, but problems arise when people treat them as one and the same.
  4. Home & Auto

    Don't Be Misled By Investment Advertising

    Investment companies and brokers want to sell. Unfortunately, this can result in promotional material that is not entirely frank, or far worse, truly misleading.
  5. Home & Auto

    Empty Storefronts

    Before your next home purchase, make sure to inspect the quality of your neighborhood.
  6. Term

    What's the Peter Principle?

    The Peter Principle observes that people tend to rise to their levels of incompetence in a hierarchy.
  7. Personal Finance

    Who You Know Might Matter More

    The saying: "It's not what you know, but who you know," might just be true. Here's a look at why connections are so important in business and job searches.
  8. Retirement

    Is Working Longer A Viable Retirement Plan?

    Fully funding someone’s life for three decades without work is tricky. The result is retirement has become, for many, a 30-year adventure.
  9. Retirement

    Empty Nesters: How to Profit When the Kids Leave

    Finally...your intensive parenting days are over and your budget is a little more flush. It’s time to focus on where that extra money goes.
  10. Personal Finance

    Why Is It Easier To Find A Job While Employed?

    It's ironic that having a job helps you find a new one. Here's what you should and shouldn't do in your job search.
RELATED FAQS
  1. What is needed to be a successful entrepreneur?

    Discover how successful entrepreneurs succeed through passion, motivation and accepting failure. Learn about the qualities ... Read Answer >>
  2. What are the most common instances to use hire purchases in a small business?

    Learn when to use a hire purchase to manage the cost of high-dollar business assets so your company can reach its full potential ... Read Answer >>
  3. What are some ways employers can reduce employee turn over?

    Learn a few strategies in hiring, compensation and management that employers can use for increasing employee retention and ... Read Answer >>
  4. What's the difference between shares and stocks?

    In today's financial markets, the distinction between stocks and shares has been somewhat blurred. Generally, these words ... Read Answer >>
  5. When do I need to fill out an IRS Schedule H form?

    Learn what factors would require you to file a Schedule H Form with the IRS. Read Answer >>
  6. Are progressive taxes ever more unfair that flat taxes?

    Learn more about progressive taxes and flat taxes. Find out why progressive taxes may be unfair for many taxpayers and why ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center