Like other employers, Costco offers health insurance to full-time and part-time employees. These benefits are comprehensive and cover health, dental, and vision.
These benefits start 90 days after being hired, which inevitably prevents seasonal staff from applying.
Additionally, it’s worth noting that Costco’s health insurance benefits carry over through retirement if you’ve worked there for at least ten years.
As mentioned previously, Costco provides health insurance to the retirement plan of all full-time and part-time employees that have worked at the company for at least ten years.
On top of that, Costco also has a 401k retirement plan. This means that a minimum of 3% of your eligible earnings goes to your Pension Plan account. Plus, if you choose to contribute 4% of your earnings as an optional contribution, Costco will contribute an additional 2%. So in this instance, that would mean that the company contributes 5% to your Pension Plan.
Overall, Costco matches 50% of an employee's contribution, up to a maximum of $500 per year.
Unlike other retail positions, Costco does not offer employees an employee discount. Employees are expected to pay the same price for products as everyone else.
PTO is an important part of being able to take sick days and going on vacations.
Luckily, by all accounts, the amount of PTO days Costco provides is above the national average. So, as an employee, you can expect to receive at least 20-30 days of PTO per year, allowing you to take a vacation or two, as well as have some emergency sick days.
However, it’s important to note that this PTO is typically based on how long you’ve worked at the company. Here are the averages:
For potential mothers, Costco provides an adequate amount of parental leave. Costco policy offers eight weeks of paid maternity leave, as well as two weeks of unpaid maternity leave. Also, your manager cannot refuse this leave if you request it.
While Costco doesn’t provide free or discounted education directly, the company is given support by The Sunshine Brooks Foundation.
This foundation has a college scholarship program for employees of Costco Wholesale and their children. And, since 1986, the program has awarded over $6 million in scholarships to Costco employees who intended to pursue higher education.
In this way, Costco does help fund the college education of its employees.
Put in simple terms, Costco provides two major bonuses to employees. This include:
Now that you know the most common benefits of working for Costco, here are some other interesting perks:
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