Costco Employee Discounts (Everything You Need to Know)
With approximately 800 stores worldwide, Costco is the largest warehouse retailer in the world. By 2021, the number of employees working at Costco will exceed 250,000.
However, if you’re thinking of working at Costco, you might be curious about employee benefits. For example, do Costco employees get an employee discount when shopping in-store or online?
From my research on this subject, I found out everything there is to know about Costco employee discounts!
Costco employee discount
Unfortunately, Costco does not offer employee discounts on any products or services. However, Costco does offer 4 free annual memberships to its employees, Health insurance, dental insurance, extended shopping hours, 50% 401(k) match, and half-hourly wages for Sunday employees.
Read on to learn how Costco employees can benefit from working at Costco!
Do Costco employees get store discounts?
Unfortunately, Costco associates don’t get a percentage discount when shopping in-store and online. At Costco, employees pay the same price for merchandise as regular customers.
However, Costco employees do get certain perks that regular customers don’t get. For example, Costco employees can shop after hours when the store is empty.
These extended shopping hours allow Costco employees to avoid crowds and long waits in checkout lines.
Plus, Costco employees get 4 free annual memberships; 1 employee premium membership and 3 basic memberships for friends or family.
Typically, an Executive membership costs $120 per year, while a Costco Basic membership costs $60 per year.
According to past and current Costco employees, they get free extra memberships after they work a certain number of days.
One of the most enticing perks of being a Costco executive member is your 2% cash back rewards of up to $1,000 per year.
Why doesn’t Costco offer employee discounts?
The main reason Costco doesn’t offer discounts to its employees is because the store already offers incredible deals on items that sell in bulk.
Plus, Costco tends to make the most money from memberships rather than product profits. So if Costco offers employee discounts, they end up losing the company money.
While Costco doesn’t offer employee discounts, the warehouse retailer does offer some incredible perks for its employees, as well as above-average wages (more on that below).
What employee benefits does Costco offer?
Costco employees enjoy many benefits simply by working for the company.
For example, Costco offers a 50% match on each employee’s 401(k) contributions, up to a maximum contribution of $500 per year.
Therefore, to maximize this benefit, employees should add $1,000 to Costco each year to contribute an additional $500 to the total.
No matter how much you contribute to your 401(k), Costco will still contribute a percentage of your salary after one year of employment.
For example, Costco will initially offer 3% of your gross salary and will increase the rate periodically. Another perk of working at Costco is health benefits.
Employees are eligible for health benefits after they have worked 180 consecutive days at Costco and worked more than 24 hours per week.
Costco employees are free to choose their own health care provider, and several current Costco employees report significantly lower out-of-pocket costs compared with competitors.
Plus, every employee at Costco has access to an affordable dental plan that covers tooth cleanings and basic dental procedures like cavity fillings.
Finally, Costco rewards employees who work on holidays and weekends, paying employees who work on Sundays half the time.
In addition to higher pay rates, Costco is offering free turkey to each employee’s family during Thanksgiving.
Do all Costco employees get benefits?
Yes, both full-time and part-time Costco employees receive available benefits, including health insurance.
Compared to other retail stores, Costco is one of the few stores that allows part-time employees to receive benefits.
However, Costco employees cannot receive health insurance until they have worked 180 days and at least 24 hours a week.
How much do Costco employees make?
Costco believes in paying its employees competitive wages, which is another reason the company doesn’t offer employee discounts.
As a result, current Costco employees revealed that they make between $15 and $29, depending on the position and length of employment.
In addition, Costco likes to promote hourly workers, such as cashiers or stockers, into positions with more responsibility, if the employee proves that he can do so.
If you’re looking for a place to work with opportunities for advancement, Costco is an attractive choice!
Now that you know about Costco’s employee discounts, you can also read our related posts on whether Costco offers military and veteran discounts, discounts for senior members, and find out everything you need to know about Costco’s dress code.
in conclusion
Currently, Costco does not offer employee discounts for in-store or online purchases. However, the warehouse retailer also offers several other full-time and part-time employee benefits.
For example, Costco includes health insurance, a 50% 401(k) match, dental coverage, exclusive shopping hours, and even free turkey for employees on Thanksgiving.
