Tesla has seen explosive growth over the last few years. More people are now interested in getting Teslas than before. With all this growth, someone would assume the employees at Tesla must also be enjoying them. That is why there is the question, do Tesla employees get a discount on cars?
Currently, Tesla does not offer special discounts on cars for its employees. However, there are other discounts they can enjoy. This largely includes discounts of up to 35% on accessories and merchandise. There are still many other perks to working at Tesla, so it is not surprising not to have a discount on cars.
Compared to other workers in different automaking companies, Tesla employees are among those highly paid. For this reason, you find car discounts might not be a big deal.
Still, we see that the employees can enjoy;
- Better salary
- Good pension program
- More vacation days
- Gym and fitness etc.
We shall look into detail what makes more people interested in working at Tesla and why it has remained a highly valued brand.
Do Tesla Employees Get A Discount On Tesla Cars?
Tesla has managed to reach many people with its vehicles, with the cheapest being the model 3, around $36K, while the most expensive is the Model X, with a price of around $160K. All this is possible because the employees do a good job putting them together.
However, Tesla currently does not have a program where it offers its employees discounts on cars. It is not the worst thing considering that Tesla employees do enjoy more discounts on other things.
Some sources claim that the employees can sometimes get a car from the company to share among several workers or use one for personal uses. It may depend on the position someone holds in the company.
The most common discounts for Tesla employees include;
- Discounted travel, shopping, and entertainment
- Discounted accessories, merchandise, and upgrade
- Discounted stock purchase program
As always, discounts can be introduced and taken away from time to time. Let us wait and see what Tesla employees might get in the future.
Is ‘Employee Pricing’ Really a Good Discount or Just a Scam?
It is not new to find different companies offering discount perks to their employees. Good examples are Toyota, GM, and Hyundai. However, do the employees save with these discounts?
Employees of these companies are often given what is called employee pricing. This means you still get to pay the invoice price. It is simply the price the dealer claims to pay for the car.
However, since the dealers have their markup, the employee’s pricing can be described as cost-to-cost for the dealer. It is not the best discount, but you still save as you will not have to pay the dealer markup.
Depending on the dealership, you, as an employee, can still get more discounts in addition to paying the invoice price. Some dealerships can offer employees 1% of the MSRP as the monthly payment. This can even apply to the high-end models of a certain car brand.
So, as much as employee pricing is not the best discount, it can sometimes be good for the employees to save on their purchases.
Tesla Benefits: Perks of Working at Tesla
It is estimated that over 99,000 people are working at Tesla as of the end of 2021. With all these people working at Tesla, it might intrigue you to try and understand their perks.
To start us off, there are a few discounts that Tesla employees enjoy. They include;
Discount on Accessories and Upgrades
Tesla employees largely enjoy a 35% discount on the various accessories and merchandise that Tesla makes.
Considering Tesla products are always in high demand, it makes sense that the employees can get first access at a discounted price.
This discount does not stop with accessories; the same applies to travel, entertainment, shopping, and more. This has made it easier for people to enjoy being part of the Tesla workforce.
2019 was a good time when the discounts helped the employees. There were nationwide layoffs, so Tesla offered discounts to its employees. The company’s apparel sold out in no time. The event was called Merch Madness.
Discounted Stock Purchase Program
You are eligible for the Tesla Employee Stock Purchase Plan (ESPP) when you are employed at Tesla. This means you can get Tesla stocks easily because they are offered at a discount compared to the current market rates.
So, how does the ESPP work?
This program is offered twice a year during the “offering period”, where eligible employees can choose to deduct 15% of their gross pay, excluding bonuses, commissions, and other incentives to buy Tesla Stock.
The ESPP program looks at the lowest closing market price of key dates. They include the first trading day during the offering period and the purchase date. So, the price you pay will be 15% lower than what these two dates offered.
Other Perks and Benefits of Working at Tesla
Other than the mentioned discounts above, there are other perks to working at Tesla. They include the following;
1. Competitive salary
The average estimated salary for those working at Tesla is around $110,192 per year. This includes the base salary and any bonuses someone is expecting to receive.
You can work at Tesla in different capacities, and the pay depends on the role you take up. A good example is the Director of Sales can get $225,480 annually while a receptionist gets $38,015 annually.
We find that half of the Tesla staff gets a salary of above $114,033 annually. It is quite competitive compared to some other automakers.
In addition to the competitive salary, you also get 30 days of vacation, relocation and commuting support, a pension program, and more.
2. Disability insurance
Tesla also understands that, at times, you may be unable to work due to medical incapacity. You get paid up to 60% of the salary when this happens. The maximum benefit, in this case, is $15000 per month.
In the case of short-term disability, Tesla can pay up to 66.7% of the employee’s salary for up to six months. The maximum benefit is $2,308 per week.
Tesla has largely worked to ensure it is a safe company for its employees to work in. There have not been any major incidences where the Tesla factories were deemed unsafe.
3. Training programs
Training programs are a way for a brand to ensure its employees have the right skills to handle different tasks assigned to them. You will get the same with Tesla.
A good example is the Tesla Start Program which is aimed at helping students to get into Tesla’s automotive and manufacturing departments. Having undergone such training also makes you more competitive among your peers, even if you do not end up working for Tesla.
4. Health insurance
Having proper health coverage is important while working for any company. That is why Tesla features good health insurance cover for its employees.
Using the cover, the employees can get basic healthcare, prescription drugs, hospital accommodation, ambulance fees, medical supplies, and more.
Tesla employees are also eligible for dental and vision insurance when they start working at Tesla. The same cover applies to spouses and employee children.
5. Tesla employee factory conveniences
Tesla employees can also enjoy other factory conveniences. Such include onsite gyms and fitness resources, free access to food trucks, patios, cafeterias, and onsite training centers. All these things are what makes Tesla good at ensuring you have a great work environment.
Does Tesla give a signing bonus?
Tesla also comes with a signing bonus, but not for everyone. Just a few employees have reported receiving the bonus. The bonus ranges from $1,000 to $5,000, depending on the position you are being hired for. Survey shows that those with a master’s degree would receive more signing bonus of up to $10,000. This is to attract top talent in the automotive industry.
What is it like to work at Tesla?
Working at Tesla will expose you to a strong benefits package, a fast-paced work environment, talented coworkers, and a company concerned with conserving the environment. As much as a few people have complained of long hours, you can still like other perks so that you enjoy working at Tesla.
Do car dealership employees get discounts on cars?
Car dealerships often give their employees discounts on cars. Most of the time, it will be the invoice price of what the dealer paid for the car. It is not a bad discount as you do not have to worry about the final dealership price.
Can Tesla employees purchase their company cars?
Yes. The employees can purchase Tesla cars just like any other person who is interested in owning a Tesla. The employee would have to go through the same procedure as anyone else.