ITV’s employees report plenty of perks including a generous pension and annual leave allowance. We find out what its like working at ITV and the perks staff look forward to.
Pension
ITV operates two pensions schemes for their employees. Employees will join the firm’s Auto-Enrolment pension (AE Plan) scheme after 3 months of working for ITV. All new employees who are aged 22 or older are signed up by default, though that fall outside of the age and salary ranges can opt-in themselves.
ITV’s AE Plan is similar to many workplace pensions across the UK, set up in response to new laws requiring employers to operate pension plans for employees and automatically enrol them. The employee is required to contribution 5% of their pensionable salary, while the employer must contribute 3%. ITV matches these figures for staff members enrolled on the AE Plan.
However, ITV also operates a Defined Contribution plan (DC Plan). Employees who have worked at ITV for over 12 months are invited to upgrade their pension, receiving higher contributions from ITV. The invitation is a one-time opportunity and given the contributions made by ITV, many employees take up the opportunity. The DC plan contributions are as follows:
| Employee Contribution | Employer Contribution | Total Contribution |
|---|---|---|
| 3% | 6% | 9% |
| 4% | 7% | 11% |
| 5% | 8% | 13% |
| 6% | 9% | 15% |
| 7% or more | 9% | 16% or more |
Annual Leave
ITV offers a standard 25 days of annual leave each year. Bank holidays are not included in the figure so, in reality, ITV staffers have over 30 days off each year.
The broadcaster offers long-term staff members an additional 2 days of annual leave each year if they have worked at ITV for more than 5 years.
Save As You Earn (SAYE) – Stock Options
As ITV is a publicly listed business, the broadcaster operates a scheme allowing employees to buy shares at a discounted price. If the share price has increased since an employee starting on the SAYE scheme, then they will immediately profit. If the share price has gone down, they can choose to take the money they saved in full. It’s worth noting that shares prices can be volatile, so choosing to purchase shares will mean you are subject to the market prices.
Other Benefits
Employees can also choose to buy up to 10 additional days of annual leave each year. Employees must opt-in to this benefit from a choice of benefits, including:
- Extra Holiday
- Discounted gym membership
- Cycle to work scheme – saving money on a bike for commuting
- Private healthcare
- Season ticket loan – interest-free loan to buy an annual season ticket
- Spark – Submit ideas for shows and if its commission (and successful), you’ll receive some of the limelight
ITV Jobs
If you’re curious about the latest vacancies at ITV, we’ve got them listed here: