CTHRA: Modest Pay Hikes for Ops, Nets10/24/2004 5:00 PM Eastern
Cable operators and programmers gave employees modest pay increases this year, with the average MSO employee getting a 4.5% increase in base salary, while cable-network employees received an average 3.3% increase in base pay, according to the Cable Television Human Resources Association’s annual compensation survey.
Median increases were lower. The survey, conducted by The Croner Co., found a 2.2% median increase for MSO employees and a 3.1% increase for cable-network staffers.
“Overall, I thought it showed me that we see improvements in employee salaries and benefits overall, and I think that’s a positive for the industry,” CTHRA executive director Pamela Williams said.
The survey also found that two unnamed MSOs changed their long-term incentive plans by offering restricted-stock units or shares, in addition to stock options, while six programming companies changed long-term incentive plans by either eliminating stock options or using restricted stock or shares in addition to stock options.
The CTHRA said 80% of MSOs “make strong use of long-term incentives” and 75% of MSOs’ top management receive restricted stock, in addition to stock options.
A slightly higher percentage (84%) of programming companies offer long-term incentives than MSOs, with stock options and restricted stock shares the most prevalent plans for networks.
For more on the CTHRA survey, please see Steve Donohue’s story on page two of Monday’s issue of Multichannel News.