Spotify was founded in 2006 and launched in 2008. It is headquartered in Stockholm, Sweden. It is a media-service company with audio streaming as the primary service/business. Spotify’s employee benefits are considered to be quite comprehensive and affordable. The company enjoys a high employee rating on Glassdoor.
The platform offers music protected by DRM and podcasts from famous record labels. Through Spotify, users can have access to about 50 million tracks.
The company has 248 million users and around 113 are paying. Spotify reported revenue of US $5.98 billion in the fiscal year 2018. It currently has more than 4,000 employees.
Spotify Employee Benefits Team
Katarina Berg – Chief Human Resources Officer
Katarina Berg received her MA from Lund University. Prior to joining Spotify, Berg worked at the HR departments of several multinational companies like Swedbank, Kanal 5 and 3 Scandinavia.
At Spotify, Berg is responsible for developing and implementing the people strategy which is essential for the overall organizational plan.
Find Katarina Berg on:
What are Spotify’s Employee Benefits?
The following are some of the major employee benefits you can get at Spotify:
|Health Insurance||Comprehensive health insurance is provided to employees.|
|Dental and Vision Coverage||Basic dental and vision coverage is available.|
|401(K) Plan||Spotify offers a 50% match up to 6%.|
|Maternity and Paternity Leave||Parental leave is excellent; both father and mother can get 6 months of paid paternal leave.|
|Flexible Work Environment||Spotify is very flexible and allows its employees to work from home.|
|Paid Time Off||Employees can get up to 21 days of PTO.|
|Paid Holidays||Employees get paid holidays.|
|Company Social Events||Employees get to enjoy a lot of holidays and summer parties organized by the company.|
|Employee Discounts||Employees can get discounts on streaming services and equipment.|
|Free Meals||The company provides free lunches and snacks to its employees every day.|
What Employee Benefits is Spotify Known for?
The employee benefits package is an effective way for any company to boost employee morale and improve employee retention. Spotify designed its benefits to provide financial, personal, and professional support to employees.
Here are some of the most known Spotify employee benefits:
- A comprehensive health insurance plan.
- Dental and Vision coverage.
- 401(k) plan with a 50% match up to 6%.
- Up to 6 months of maternity and paternity leave.
- Up to 21 days of PTO.
- Flexible work environment.
- Employee discounts.
Spotify provides its employees with an excellent health insurance plan. The company covers the cost of coverage, making healthcare very affordable for employees. The health insurance also includes dental and vision coverage. Employees also get coverage for services such as egg freezing and a few other non-standard health benefits. According to Glassdoor, the healthcare plan is administered through Cigna.
The savings plan at Spotify is also quite good. The 401(k) plan offers a 50% match up to 6% of an employee’s salary. Moreover, you also get a few investment options. According to Glassdoor, the company gets the plan through Vanguard.
The PTO policy is also quite generous. You can get up to 21 days off. Moreover, the company offers paid holidays. Besides PTO, Spotify is a great workplace for new parents or employees that are looking to start a family. The company allows both parents 6 months of paid maternity and parental leave which is an amazing time period, the best in the industry.
The work environment is also very flexible. The culture is very inclusive and friendly. The company also allows its employees to work from home if need be. Another excellent benefit is employee discounts. Spotify offers employees free access to all of the company’s streaming services and discounts on equipment.
All of these factors have earned Spotify very good employee ratings on Glassdoor. From individual benefits to the collective work culture, there are many factors that make the company one of the best workplaces.
How Does Spotify Help with Student Loans?
Spotify does not provide its employees with any assistance with student loans at this time. And there is also no information available online about the company’s tuition reimbursement program, so, we can assume Spotify does not offer it.
Student loans, for American College graduates, have become a financial nightmare. Their entire life is planned around paying these loans. That is why job seekers consider student loan support benefits as the number one priority while looking for a job. But not even 5% of American employers offer this support. However, things could get better as many corporations are planning to introduce student loan repayment programs for their employees.
But the question is how to implement the benefit efficiently? One of the best solutions comes from FutureFuel. Through this platform, employers can create their accounts and use them to contribute to their employees’ student loan debt. They can also supervise the program without any complications. Employees can make loan payments and manage their loans through their own accounts.
How do Spotify Benefits Change for Different jobs?
Spotify’s employee benefits are quite good and well-received by its employees. However, some benefits are different for different job types, job levels, and seniority level. Here are some of the ways the benefits are likely to change:
- The number of days off depends on the years of service at Spotify.
- The cost of health coverage is different for part-time and full-time employees.
- New hires have to wait a certain period of time before getting full access to all company benefits.
How Has Spotify Improved its Benefits Package Over Time?
Spotify is comparatively a new company but during this short period of time, it has shown remarkable potential. The company has established an excellent reputation and market value. One of the factors for its immediate success as a workplace is because of its employee benefits package.
Spotify not only keeps updating its existing benefits but also introduces and implements many new incentives. It has tried its best to keep coverage costs as affordable as possible. Moreover, the company constantly thinks of different ways to give its employees a good work-life balance.
From excellent maternity leave to free meals, Spotify continues to look after its employees.
Are Spotify Careers Worth It?
Spotify is known for its relaxed working hours and friendly work culture. If you love music and are creative, driven and motivated then Spotify is the place for you. From excellent benefits to professional growth, the company offers good career prospects.
Below are some factors that make Spotify careers worth it:
- Friendly and flexible work environment.
- Room to be creative.
- Comprehensive and cheap health insurance, which is good for your finances.
- Employee discounts along with paid vacation and holidays, make things even better.
- A good 401(k) plan, which can help you save well for your retirement.
Discover Spotify Jobs and Careers
If you want to work at Spotify, then you need to know where all the jobs are listed. Here are a few places which will give you constant updates about all available vacancies at the company.
The official careers page of Spotify has all the jobs listed in separate categories. You can look up the category you are interested in and search for a vacancy. All job listings come with added details. The website allows you to apply online by clicking on the “apply now” tab.
You can find almost 400 jobs listings for Spotify on Glassdoor. To save time and make the search more targeted, you can use the search bar and find jobs based on your preferences. Glassdoor also has an employee reviews section, which will give you a clear idea about what employees think of Spotify’s work culture, work ethics, and benefits.
Indeed is also a good place to look for vacancies at Spotify. The website has hundreds of job listings. You can narrow down your search by using the search feature. Each job has all the necessary information. You can also visit the reviews section to see what employees have to say about Spotify’s work culture. Besides this, the Q&A page will answer all your questions about working at Spotify.