Costco Employee Discount In 2022 (All You Need To Know)
Costco’s logo since 1997
|
|
 |
|
| Type |
Public |
|---|---|
|
Nasdaq : COST NASDAQ-100 Component S&P 100 Component S&P 500 Component |
|
| Industry |
Retail |
| Predecessor |
Price Club |
| Founded |
July 12, 1976 ( 1976-07-12 ) (as Price Club) San Diego, California , U.S. September 15, 1983 ( 1983-09-15 ) (as Costco) Seattle, Washington , U.S. |
| Founders |
James Sinegal Jeffrey Brotman Sol Price Robert Price |
| Headquarters |
,
U.S.
|
|
Number of locations
|
804 [1] (2021) |
|
Area served
|
Australia Canada China France Iceland Japan Mexico New Zealand South Korea Spain Taiwan United Kingdom United States |
|
Key people
|
Hamilton E. James (Chairman) W. Craig Jelinek (President and CEO) |
| Brands | Kirkland Signature |
| Services |
Merchandise Cash & Carry Warehouse club Filling stations |
| Revenue |
 US$166.76 billion [2] (2020) |
|
US$6.023 billion [2] (2020) |
|
|
US$4.002 billion [2] (2020) |
|
|
Total assets |
US$45.40 billion [2] (2019) |
|
Total equity |
US$15.24 billion [2] (2019) |
| Members |
105.5 million [3] (2020) |
|
Number of employees
|
273,000 [3] (2020) |
| Website |
www .costco .com  |
Costco, with over 800 locations worldwide, is the biggest warehouse retailer. Costco now has more than 250,000 employees, as per 2021.
But, if you are looking to work at Costco, you may be curious about the employee benefits. Costco employees may be interested in knowing if they have discounts for online and in-store purchases.
Costco doesn’t offer any employee discounts on their products or services until 2022. However, Costco does give its workers 4 free annual memberships, health insurance, dental coverage, extended shopping hours, 50% 401(k) matching, and time and a half pay on Sunday for their employees.
Do Costco Employees Receive A Store Discount?
Costco employees will not be able to take any percentage of online and in-store orders. Costco employees are charged the same prices as regular customers for the items they purchase.
However, Costco employees do have access to certain perks that normal customers do not have access to. For example, Costco employees have the benefit of shopping after hours when the store is empty.
These extended shopping hours allow Costco employees to avoid large crowds and long wait times at the checkout lines.
Costco employees can also get four annual free memberships. One Executive-level member for them and three basic members for their friends or families.
Usually, an Executive membership costs $120 annually, and a basic Costco membership costs $60 per year.
Costco employees past and current claim that after working for Costco for a set amount of time, they can get an additional complimentary membership.
Costco’s Executive Membership offers one of its most attractive perks, which is a 2% cashback reward that can reach up to $1,000 each year.
Costco Doesn’t Offer Employee Discounts
Costco’s main reason for not offering discounts to their employees is because the store offers amazing bulk deals.
Costco’s profits are largely derived from its memberships and not the product margins. So, if Costco offered an employee discount, they would end up losing the company money.
Costco may not give employee discounts, but it does offer some amazing benefits for its warehouse employees as well as a high-paying wage.
What Employee Benefits Does Costco Offer?
Costco employees can access a wide array of benefits simply by working for the company.
For example, Costco offers a 50% match on every employees’ 401(k) contribution, with a maximum contribution of $500 per year.
So, to maximize this benefit, employees should add $1,000 a year for Costco to contribute an additional $500 to the total.
Costco will still pay a certain percentage of your wages after you’ve been working for one year.
Costco pays 3% of your salary at the beginning and then increases this rate periodically. Costco’s health benefits are another perk.
Costco employees are entitled to health benefits if they work for Costco for at least 180 consecutive days or more than 24 hour a week.
Costco employees get the freedom to choose their own healthcare providers, and several current Costco employees report that the out-of-pocket costs are significantly lower compared to the competition.
Costco employees can also access a dental plan that covers basic procedures like fillings, cleanings, and teeth cleanings.
Costco provides employees with a reward for working weekends and holidays. Costco employees are also paid an hour and a half to work Sundays.
Costco also offers a more competitive pay rate and gives employees the opportunity to get free Thanksgiving turkeys for their families.
Can All Costco Employees Get Benefits?
Yes, both full and part-time employees at Costco have access to the available benefits , including health insurance.
Costco offers part-time benefits, which is rare among retail stores.
However, Costco employees can only receive health insurance after they have worked 180 days and work at least 24 hours a week.
What is the Average Salary of Costco employees?
Costco is committed to paying its employees competitive wages. This is why the company doesn’t offer an employee discount.
With that, current Costco employees reveal they earn anywhere from $15 to $29 , depending on the position and length of employment.
Additionally, Costco loves to promote hourly workers like cashiers or stockers to positions with more responsibility if an employee proves they can do so.
Now that you know about Costco’s employee discount, you can also read our related posts on whether or not Costco offers military & veteran discounts, senior discounts on memberships, and find out everything you need to know about Costco’s dress code.
Costco doesn’t offer any employee discount on purchases made in-store and online. Full-time as well as part-time workers can enjoy many benefits from the warehouse retailer.
Costco, for example, offers health insurance and 50% matching to 401(k), dental coverage, shopping hours with an exclusive shop, as well as free Thanksgiving turkey to employees.
Costco’s Perks:
In the U.S., we provide generous benefits, including affordable health care coverage for full- and part-time employees, and sizable contributions to company-sponsored retirement plans, based on years of service. Our long-tenured employees who work hourly receive twice-yearly bonus checks.
Are you eligible to get benefits at Costco for as long as you work?
9 answers. According to costcobenefits(dot)com it is “First day of the second month following 450 eligible paid hours” however according to costco(dot)com/benefits it is “benefit-eligible on the first of the month after working 600 hours or 180 days, whichever comes first.” 600 hours. 180 days. Whichever comes first. May 23, 2017,
Does Costco Give Raises?
Is it a common occurrence for you to receive pay raises. Each position is eligible for a different amount. A $1.00 increase is usually given every 6 months depending on how many hours worked for the company.
Seasonal Costco Workers Get Free Membership
6 answers. When they hire them as seasonal employees, they receive the standard membership. Dec 15, 2016,
.Costco Employee Discount In 2022 (All You Need To Know)
