Costco Employee Benefits
There are several perks associated with working with Costco. Perks such as its variety of health benefits, high chances of promotion, good wages, retirement benefits, and robust bonuses amongst others will make for a good read of this article.
The Salary is Above Minimum Wage
Costco pays above the $15 minimum wage. Costco offers service assistants a starting salary of $17 per hour while service clerks receive $18 per hour. Specialized positions at the pharmacy and optical center make above an average of $25 per hour.
Wide Range of Health Benefits
Working for 180 consecutive days for more than 23 hours a week qualifies an employee for Costco’s solid health benefit plan. Health insurance comprises dental and vision (with optometrists available) with low copays. The company’s pharmacies are also available for employees’ use for prescriptions that require filling.
Weekly Chances to Earn More
In addition to the good base pay, employees have weekly chances to augment their income. With its time-and-a-half pay structure on Sundays, an employee earns above 50% for every hour worked. Employees can earn more per hour when working on Sundays no matter the number of hours worked during the week. So when you see employees sweating it out on the busiest days, just know they are earning extra.
Free Turkey For Holidays
No doubt every worker loves a holiday package. Costco never disappoints when it comes to that. According to a business insider report in 2019, one free turkey is made available to every Costco employee from mid-November through Christmas. That’s a great way to stay the festive season right. Employees not interested in a turkey can have theirs donated to charity. There’s love in sharing, a sure reason for the season.
Costco Never Disappoints With Bonuses
Talking about extra perks, there are annual bonuses and bonuses paid every six months to employees. Depending on how long an employee has worked with Costco, bonuses of $2,000 or more are paid semi-annually according to reports on indeed.com. This amount increases in proportion to the experience of the employee.
A Perfect Place to retire
Fifty percent of the employee’s annual 401(k) contributions are matched up to $500 every year by the company. Costco adds as high as $1,500 to an employee’s 401(k) plan yearly. Also, health insurance is a part of the retirement benefits for employees who have been in their service for 10 or more years, according to Glassdoor.
High Chances of Promotion
Employees are not restricted to the entry-level role of the positions at Costco. The company offers employees a variety of options to develop and grow in their departments. Costco has a mentorship program for employees and offers them the opportunity to learn new roles to move to higher positions in the company.
Not every department at Costco requires specialized certification or education for certain roles like the optical and pharmacy sections. A large percentage (70%) of the company’s warehouse managers began their job as hourly employees. This simply implies that employees can advance in their careers, though the duration of advancement varies from position to position and other factors.
Robust Time off Policies
Costco offers different relaxing time-off policies for staff. Employees at the company are eligible for paid sick leave, paid time off, and vacation hours also. The off Policy simply requires working for three months before one can start accruing paid time off. Given certain considerations, the vacation hours of an employee can be rolled over to another calendar year. Nursing mothers have six weeks of paid maternity leave as well.
Costco offers so many benefits to all its employee. If you are considering taking or applying for a job at Costco, you should take into consideration all the perks discussed above. As much as you are in dire need of a job, you should keep in mind some common red flags about potential job offers. But you can find a comfortable environment taking into consideration benefits, salary, and work culture.
Are employees offered discounts at Costco?
No. Just like every other customer, employees pay the same price. Every employee has an executive Membership card, which is like having $120 a year. Also, employees earn 2% back on their purchases.
How much do employees pay for monthly medical insurance with kids in their plan?
According to an employee’s review, Costco employees pay roughly $45 per person per month.
At what age can one start working at Costco?
Costco only employs people who are 18 years and older.
