As a major Pay TV broadcaster and film studio, Paramount caters to a wide range of viewers with channels including Channel 5, Comedy Central, Nickelodeon and Spike. However, what benefits do they provide for their employees?
In the UK’s broadcasting division, Paramount breaks down their benefits into three distinct categories:
- Health & Wellbeing
- Savings & Protection
The Paramount pension scheme is operated by Fidelity. Compared to its fellow broadcasters, Paramount offers a generous pension plan for those contributing lower amounts. The breakdown is as follows:
|Employee Contribution||Employer Contribution||Total Contribution|
|5% or more||8%||13% or more|
Staff will receive a set level of cover from Cigna, though employees are welcome to upgrade to additional cover and take advantage of salary sacrificing. The cover level will depend on each individual, however employees can find out what’s covered in the staff Benefits Store.
Employees can also subscribe to a dental plan, plus access discounted gym membership rates. Participating gym brands include PureGym, FitnessFirst and My Gym. They can also get a free Health Assessment at selected Nuffield Health facilities.
Paramount only offer 23 days of annual leave for all their employees, other broadcasters typically offer at least 25 days. However, an additional day of annual leave is added to an employee’s allowance after 3, 5 and 10 years, to a maximum of 26 days of paid time off.
Staff can participate in a short period when additional annual leave can be acquired or excess days sold. Employees can purchase a maximum of 4 days additional annual leave each year – though this is tax-free. Employees can also sell 3 days if they have no intention to use it – tax and National Insurance must be paid on this.
Another lifestyle benefit is a cashback option if you have a Pay TV subscription from Sky, BT or Virgin Media. Employees can claim up to £20.51 per month
Depending on the seniority of the role, stock awards may be offered to employees. These are typically run over a four-year period, with 25% of the total amount vested on each work anniversary.
Season ticket loans are also offered to employees, allowing them to take advantage of the savings on an annual season ticket while repaying it (interest-free) over the following 12 months.
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