A baronetcy is a hereditary title in the United Kingdom, ranking below a baron but above a knight. It is conferred by the monarch and is often seen as a way to recognize individuals for their contributions to society. Holders of this title are referred to as "Sir" and can pass the title to their male heirs. Baronetcies were first created in the early 14th century and have since become a part of the British honors system. The title does not confer nobility, but it does grant the holder a degree of social prestige. Baronetcies are often associated with land ownership and local influence.