UK Employee Benefits
Just as our clients count on us, Silicon Valley Bank's benefits are designed to support our employees' goals and enhance their well-being. SVB’s UK Branch (SVB) offers employees a robust benefits package, which is among the best in business today.
Balancing Work And Life
At SVB, we offer plenty of paid time off and perks to help employees balance work responsibilities and their personal lives.
In order to provide employees with paid time off for relaxation or personal time away from the office, full-time employees are eligible to accrue 25 days each calendar year, plus all statutory public holidays. Part-time employees accrue holidays on a pro-rated basis.
Short Term Sickness
Employees are eligible for sick leave from their first day of employment. SVB provides 100% of base salary for sick leave up to and including the 13th week of absence. Payment is inclusive of any Statutory Sick Pay entitlement.
Employee Assistance Plan (EAP)
Our EAP offers a free, comprehensive resource for employees to help bring balance between their work responsibilities and personal life. Employees and their family members can contact the EAP for confidential counseling, advice and referrals on personal as well as work-related issues.
Commuter Benefit Program
SVB provides a loan facility for the purchase of annual season tickets for public transportation for the purpose of travelling to and from work. You can request an interest-free loan of up to £5,000 for the purchase of an annual train and/or bus season ticket.
SVB offers discounts for movie theaters, theme parks, personal computing purchases and more.
SVB offers comprehensive health care coverage and other resources to promote the health of our employees and their families.
Employees are entitled to receive a free comprehensive health assessment with Nuffield Health every two years.
Private Medical Insurance is offered through Bupa. Spouses/domestic partners and unmarried children up to 24 years of age are eligible dependents. SVB pays the cost of coverage for the employee and their dependants.
Employees and their dependants (spouses/domestic partners and unmarried children up to age 25) can participate in the scheme from the first of the month following their start date and SVB pays the full cost of coverage.
Employees are entitled to receive one free eye examination every two years. SVB has a corporate arrangement with Edenred. If VDU corrective spectacles are recommended by the optician SVB will provide a voucher towards a basic pair of spectacles.
Exercise for Charity
SVB works in partnership with Plus 3 Network, a company that combines personal fitness with charitable giving. Plus 3 Network will count your daily exercise as fitness-rewarded fundraising to our selected charity,
At SVB we offer benefits to both support employees starting a new family and those with children requiring childcare.
Maternity Leave & Pay
Employees are eligible for Enhanced Maternity Pay if they have been with SVB for over one year at the commencement of their leave. The first six weeks of Maternity Leave are paid at 100% average weekly earnings. The following six weeks are paid at 100% basic earnings, and the next 27 weeks at the current rate of Statutory Maternity Pay. Employees with less than one year of employment will be eligible for Statutory Maternity Pay.
Paternity Leave & Pay
Employees who have been with SVB one year at the commencement of their leave are eligible for Enhanced Paternity Pay. This is up to two weeks of Paternity Leave paid at 100% base earnings. Employees with less than one year of employment will be eligible for Statutory Paternity Pay.
SVB offers a Childcare Voucher scheme giving employees the option to put part of their salary into childcare vouchers.
Vouchers are tax and National Insurance free so it may be advantageous to fund childcare through vouchers opposed to funding childcare from normal taxable pay.
SVB offers a number of insurance plans to protect employees and their families in the case of unexpected events or life change.
If an employee's injury or illness continues for more than 13 weeks, SVB offers a benefit equal to 75 percent of basic salary. SVB pays the cost for this coverage.
To protect an employee's family in the event of death, SVB provides life insurance coverage equal to four times the employee’s annual basic salary.
SVB offers two types of travel insurance, both for personal and business travel. For personal travel SVB pays the cost of coverage for employees and their dependants (spouses/domestic partners and unmarried children to age 24). All employees travelling on SVB business are automatically covered. The policy includes benefits to cover lost or damaged baggage, emergency evacuation and travel assistance.
Building Wealth For Tomorrow
SVB offers several comprehensive programs to support employees in meeting their financial and retirement goals.
Group Personal Pension Scheme
SVB doubles employees’ personal pension plan contributions up to a maximum of 12% of annual basic salary. Employees must contribute a minimum of 3% of salary to take advantage of the employer contribution.
Employee Stock Purchase Plan
Employees can contribute up to 10% of earnings to purchase shares of SVB Financial Group stock at a 15% discount through after-tax payroll deductions.
Employee Growth And Development
SVB's Learning & Development group offers a full curriculum of courses to aid personal and professional development.
Employees who have been with the bank for a minimum of 6 month’s are eligible to receive education assistance towards the pursuit of a job related degree. SVB reimburses up to £3,500 per calendar year for tuition and books.
This is an overview of SVB‘s UK Branch benefits. It is not a legally binding document. SVB Financial Group/SVB UK Branch reserves the right to terminate or amend the program at any time. This information does not constitute a guarantee or contract of employment.