Ticketmaster is one of the largest ticketing companies in the world, providing ticketing services for concerts, sports events, theater shows, and more. As a large corporation, Ticketmaster offers its employees a comprehensive benefits package to attract and retain top talent. Here is an overview of the key benefits available to Ticketmaster employees.
Health Insurance
One of the most valuable benefits Ticketmaster provides is health insurance coverage. All full-time employees are eligible for medical, dental, and vision insurance. Ticketmaster offers several plan options through major insurance providers like UnitedHealthcare, Cigna, and Kaiser Permanente. Employees can choose between PPO and HMO plans. The plans offer coverage for doctor visits, hospitalization, preventive care, prescription drugs, and more. Ticketmaster covers a significant portion of employee premiums, making the plans more affordable. Employees can also elect coverage for their spouse, domestic partner, and dependents. Besides the major medical insurance, Ticketmaster also provides supplemental insurance options like accident, critical illness, and hospital indemnity plans for added financial protection.
Health Savings Account
Employees enrolled in a high-deductible health plan can open a Health Savings Account (HSA) through Ticketmaster. This is a tax-advantaged account that allows employees to set aside pre-tax or tax-deductible funds to pay for qualified medical expenses. Ticketmaster will contribute up to $500 for individual coverage or $1,000 for family coverage into the HSA per year. Employees can also make their own pre-tax contributions up to the IRS limits. The HSA funds roll over year to year and belong to the employee, even if they leave the company.
Flexible Spending Accounts
Along with the HSA, Ticketmaster provides Flexible Spending Accounts (FSAs) to help employees pay for medical and dependent care expenses on a pre-tax basis. The health care FSA covers out-of-pocket costs for medical, dental, and vision care. The dependent care FSA can be used for child care or elder care expenses. Employees can contribute up to $2,750 to the health care FSA and $5,000 to the dependent care FSA each year. These accounts provide a significant tax advantage by lowering taxable income.
Employee Assistance Program
Ticketmaster offers an Employee Assistance Program (EAP) through provider LifeWorks. This program offers 24/7 phone access to counselors who can provide assessment, referrals, and resources for issues like mental health, relationships, substance abuse, workplace concerns, and more. Employees and family members can get 5 free sessions with a counselor per issue per year. The EAP provides confidential support for personal and work-life issues at no cost to employees.
Retirement Benefits
Ticketmaster aims to help employees save and plan for a secure retirement through the following benefits:
401(k) Plan
All full-time Ticketmaster employees over 21 years old are eligible to participate in the company’s 401(k) retirement plan after 60 days of employment. The plan is administered through Fidelity Investments. Ticketmaster provides a generous employer match to help employees grow their retirement savings. The company matches 100% of employee contributions up to the first 3% of pay, and 50% on the next 2% of pay. This means that if an employee contributes at least 5% to their 401(k), they will receive a 4% matching contribution from Ticketmaster for a total of 9% towards retirement. The match is fully vested after one year of employment.
Profit Sharing Plan
In addition to the 401(k) match, Ticketmaster may make a discretionary profit sharing contribution to eligible employees’ accounts each year. This allows employees to receive extra retirement funds in profitable years. Profit sharing contributions vest over 6 years.
Pension Plan
Ticketmaster also offers a cash balance pension plan for union employees at certain venues. This plan provides workers with a guaranteed income stream in retirement on top of social security benefits. Each year, Ticketmaster credits participants’ accounts with contribution credits and interest credits to grow the cash balance. At retirement, the balance converts to monthly lifetime income payments.
Financial Benefits
Ticketmaster provides some additional financial benefits and incentives beyond retirement contributions:
Stock Purchase Plan
Full-time employees have the option to purchase Live Nation stock directly from their paycheck through convenient payroll deductions. Employees receive a 5% discount on the stock price and all stock administration fees are paid by Ticketmaster. This gives employees a chance to share in the company’s success.
Commuter Benefits Plan
To help offset the cost of commuting to work, Ticketmaster allows employees to set aside pre-tax funds in a commuter benefits account administered by Edenred Commuter Benefits. This account can be used for eligible transit and parking expenses related to getting to work. The pre-tax savings help increase take-home pay.
Tuition Reimbursement
Ticketmaster provides tuition reimbursement benefits to encourage continuous learning and development. After one year of employment, full-time employees are eligible for up to $5,250 per year in tuition reimbursement. This can be used to offset the cost of approved courses and degree programs relevant to an employee’s current role or future career path at Ticketmaster. Required grades must be achieved for reimbursement.
Employee Discounts
Employees can access special ticket discounts and offers for Live Nation events and venues. This includes 50% off tickets at Live Nation clubs and concert venues with no ticket fees. Employees also get discounts on company merchandise. These employee perks provide savings on entertainment activities.
Credit Union Membership
Ticketmaster employees have access to affordable financial services and better interest rates through company credit union membership. The Live Nation Entertainment Federal Credit Union offers checking and savings accounts, low rate loans, credit cards, and other services to improve employees’ financial well-being.
Time Off Benefits
Allowing proper time for rest and relaxation is an important part of Ticketmaster’s employee benefits policy. The company provides paid time off and leave options including:
Vacation Time
Years of Service | Vacation Days |
---|---|
0-2 years | 10 days |
3-9 years | 15 days |
10-19 years | 20 days |
20+ years | 25 days |
Full-time Ticketmaster employees start earning vacation time from their first year on the job. The number of paid vacation days increases with years of service up to a maximum of 25 days per year. This vacation time can be used for any personal reasons and provides paid time off to relax and recharge.
Sick Leave
Employees can take up to 5 paid sick days per year to recover from illness or care for sick family members. Unused sick time does not roll over to the next year.
Holidays
Ticketmaster observes 8 paid holidays each year:
- New Year’s Day
- Martin Luther King Jr. Day
- Memorial Day
- Juneteenth
- Independence Day
- Labor Day
- Thanksgiving Day
- Christmas Day
The week between Christmas and New Year’s is also paid time off for non-essential employees.
Other Leave Programs
In addition to vacation and sick time, Ticketmaster offers other types of protected leave for situations like jury duty, military service, bereavement, family/medical leave, and more. These provide job security and often pay while employees take care of important needs outside of work.
Flexible Work Arrangements
Ticketmaster aims to support work-life balance through flexible work options. Depending on the role, employees may be eligible for flex schedules, compressed work weeks, remote work, job sharing, and other arrangements that allow for flexibility while getting work done.
Family & Parental Benefits
Ticketmaster recognizes the importance of family and provides benefits to support employees with families, including:
Parental Leave
Birth mothers receive 8 weeks of 100% paid maternity leave to recover from childbirth and bond with their new baby. Partners and adoptive parents are provided 4 weeks of 100% paid parental leave. This time is in addition to any disability leave for birth mothers.
Adoption Assistance
Ticketmaster reimburses eligible adoption expenses up to $5,000 per adopted child for full-time employees. This can help offset the significant costs associated with adoption.
Fertility Benefits
The health insurance plans cover infertility testing and treatment after one year of employment. Ticketmaster also provides up to $20,000 lifetime reimbursement for fertility preservation costs when meeting specific medical criteria.
Child Care Discounts
Employees get access to discounted child care services through Care.com and Sittercity.com. This provides savings on babysitters, nannies, tutors, pet care, senior care, housekeeping and more.
Dependent Care FSA
As mentioned earlier, the dependent care FSA allows employees to pay for child care and elder care costs with pre-tax dollars, which helps working parents.
Employee Growth & Development
Ticketmaster invests in professional development through the following programs:
Tuition Reimbursement
The tuition reimbursement benefit mentioned earlier promotes continuous learning by covering education expenses for approved courses and degree programs relevant to an employee’s role and career path.
In-House Training
Employees have access to a wide catalog of professional development courses offered through Ticketmaster University. These courses allow employees to gain skills needed for their day-to-day work or future career advancement within the company. Topics include leadership, communication, project management, sales, customer service, and much more.
Live Nation Academy
For employees interested in working directly in the live entertainment industry, the Live Nation Academy provides free courses to gain the knowledge and expertise needed for roles in concert promotion, venue operations, ticketing, event production, security, and more. This helps employees transition into new careers with Live Nation Entertainment.
Mentorship Program
Ticketmaster facilitates mentoring relationships between newer and experienced employees. This provides junior staff with coaching and guidance to help them grow their skills and leadership capabilities. Mentorship builds connections across the company and grooms up-and-coming talent.
Tuition Reimbursement for Family
Interestingly, Ticketmaster also offers up to $5,250 in tuition reimbursement benefits for an employee’s spouse, domestic partner or dependents each year. Investing in the education of employees’ families demonstrates Ticketmaster’s strong commitment to lifelong learning.
Culture & Lifestyle Benefits
Ticketmaster aims to promote employee happiness through the following culture and lifestyle benefits:
Employee Resource Groups
Ticketmaster hosts initiatives like the Women’s Network, Black Employee Network, Parents Network, Pride Alliance and other employee resource groups. These groups cultivate diversity and inclusion by building community and giving employees a voice.
Live Nation Events
Employees often enjoy free tickets to local Live Nation concerts, festivals, and events. This is a fun work perk when events are hosted at Ticketmaster or Live Nation venues.
Venue Discounts
As mentioned earlier, employees receive 50% discounts on tickets purchased for Live Nation clubs and concert venues. This makes it affordable for employees to enjoy shows at these premier establishments.
Corporate Discounts
Through PerkSpot, employees can access discounts and cash back for major retailers, theme parks, cell phone providers, hotels, rental cars, restaurants, and more. This provides savings on everyday purchases.
Commuter Benefits
The commuter benefits plan helps subsidize employees’ commute costs through pre-tax savings on transit passes and parking fees.
Work-Life Balance
Ticketmaster strives to promote work-life balance through policies like flexible work options, generous vacation time, and family-friendly benefits. This allows employees to better manage their personal and professional responsibilities.
Conclusion
In summary, Ticketmaster provides a highly competitive benefits package including health/dental/vision insurance, retirement savings help, paid time off, parental leave, professional development opportunities, employee discounts, and more. The wide range of benefits demonstrates Ticketmaster’s investment in the well-being, growth, and financial security of its workforce. The company understands the value of happy, healthy, engaged employees in driving business success. Ticketmaster’s benefits certainly give it an edge in attracting and retaining top talent across its ticketing operations and corporate divisions.