Share This Article
Costco Employee Discount In 2022 (All You Need To Know)
|
|
|
|
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 |
With around 800 locations globally, Costco is the largest warehouse retailer in the world. With that, the number of employees that work at Costco reaches well over 250,000 as of 2021.
You might also be interested in Costco’s employee benefits if you are considering a career at the company. Costco employees can get a discount in-store as well as online for purchases.
Costco no longer offers an employee discount on products or services. Costco provides its employees with 4 free annual memberships. It also offers health insurance, discounts on products, extended shopping hours, and 50% off 401K matching.
Do Costco Employees Receive A Store Discount?
Costco employees cannot take a cut on their online purchases. Costco employees get the same items at the regular price as customers.
Costco employees have certain benefits that customers don’t have. Costco employees can shop after-hours, even if the store is closed.
Costco employees can shop longer hours to avoid crowds or long lines at checkout.
Costco employees can also get four annual free memberships. One Executive-level member for them and three basic members for their friends or families.
A Costco basic membership cost $60 per annum, and an Executive membership typically costs $120 each year.
Past and present Costco employees claim that they are entitled to additional memberships for a specified number of work days.
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
The main reason Costco does not offer their employees discounts is due to the fact that the store already offers incredible deals on items sold in bulk.
Costco makes a lot more money from their memberships than they do on the products. Costco offering an employee discount would result in the company losing money.
Costco is not able to offer employees discounts but they do provide amazing benefits, plus a better-than-average wage. (See more below).
What Employee Benefits Does Costco Offer?
Costco employees get many benefits from working for Costco.
Costco provides an example: A 50% match for every employee’s 401k contribution with a maximum of $500 each year.
So, to maximize this benefit, employees should add $1,000 a year for Costco to contribute an additional $500 to the total.
Regardless of what you contribute to your 401(k), Costco still contributes a percentage of your pay after being employed for a year.
Costco will contribute 3% of your first paycheck, and may increase it over time. Another perk of working for Costco is the health benefits.
Costco employees can be eligible for medical benefits after they have been employed at Costco for over 24 hours per day for 180 consecutive calendar days.
Costco employees have full freedom to choose their health providers. Costco employees also report significantly lower out of pocket expenses than competitors.
Costco employees can also access a dental plan that covers basic procedures like fillings, cleanings, and teeth cleanings.
Costco also rewards employees who work weekends and during holidays. They pay employees half the time for Sunday work.
Costco also offers a more competitive pay rate and gives employees the opportunity to get free Thanksgiving turkeys for their families.
What benefits do all Costco employees have access to?
Costco employees can have both part-time and full-time access to all available benefits, including health insurance.
Costco has a few locations that offer part-time employment.
Costco employees will only be eligible to have health insurance once they’ve worked for least 24 hours per day and completed 180 work days.
Costco Workers Earn How Much
Costco believes in paying their employees a competitive wage, which is another reason the company does not offer an employee discount.
Costco employees are earning between $15 and $29. This is depending on what position they hold and for how long.
Costco is open to promoting hourly workers such as cashiers and stockers into positions that require more responsibility, if the employee can prove they have the ability to 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. The warehouse retailer offers many other benefits to both part-time and full-time employees.
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:
American workers enjoy generous benefits. These include affordable healthcare coverage for all employees. We also offer substantial retirement contributions based upon years of service. We provide twice-yearly Extra Checks (bonuses) for long-tenured hourly employees.
How Long Do You Have To Work At Costco To Get Benefits?
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. Whatever happens first. May 23, 2017
Does Costco Give Raises?
How often do you get pay raises? You will get a pay increase every year, but the exact amount will depend on what position you are in. It is very common to receive $1.00 increases every 6-12 months depending upon how hard you have worked.
Seasonal Costco employees get free membership
6 answers. If they’re hired in as seasonal workers, then yes. December 15, 2016
.Costco Employee Discount In 2022 (All You Need To Know)