Tesla Employee Benefits Review: Are Their Careers Worth It?

Tesla Employee Benefits Review: Are Their Careers Worth It?

Tesla is known worldwide as a manufacturer and seller of high-end electric cars. Tesla sells more plug-in electric vehicles than any other car brand.

Plug-in vehicles are those that do not have a gas-powered backup. Unlike hybrids, they rely purely on electrical power.

Tesla’s car design overcame the chief complaint about plug-in cars, which is their low mileage range. Every Tesla vehicle can drive hundreds of miles on a single charge.

Electric vehicles have a reputation as staid and boring. Tesla’s cars are a luxury item for buyers who want stylish, high-performance vehicles. The cars cost between $50,000 and $100,000. They also require their own charging stations and batteries.

Elon Musk, the company’s chief executive officer, has said that he is driven by a mission to convert every car buyer to electric cars.

Tesla is involved in several related ventures. It makes solar panels, solar tiles and public charging stations for its cars. Tesla is also engaged in developing technology for space exploration.

In addition to its headquarters, Tesla dealerships and branch offices, Tesla operates assembly plants in and California.

Tesla employs over 48,000 people worldwide and has a great employee benefits package to drive staff engagement.

Tesla Employee Benefits Team

Shaheen Indawala, Senior Human Resources Business Partner at Tesla

Indawala joined Tesla in 2019. She has worked at JetBlue Airways and U.S. Foods. She has a degree from Rutgers University and a master’s degree in human resource management from Penn State.

Find her on:

LinkedIn

Marci Gregson, Senior Human Resources Manager at Tesla

Gregson joined the company in 2018. Previously, she worked in human resources at Honeywell and Delphi. She has a bachelor’s degree and an MBA from Canisius College.

Find her on:

LinkedIn

What are Tesla’s Employee Benefits?

Tesla wants to keep its staff motivated, dedicated, and engaged with their work. They do this by offering some key benefits such as the ones listed below.

Employee BenefitsDescription
Health InsuranceCoverage of a wide variety of healthcare services
such as drugs, vision, healthcare professionals , medical supplies and services, hospital room accommodations, and medical and non-medical travel emergencies.
Dental InsuranceCovers basic and preventive services such as complete oral exams and teeth cleanings, as well as major services such as surgical procedures and dentures.
Vision CoverageRefund employees $200 per 24 months
for prescription glasses, contact lenses, and laser
eye surgery.
Retirement Savings PlanEmployees can put aside pre-tax dollars from their paycheck and invest them in a variety of investment options.
Employee Stock Purchase PlanEmployees can purchase company stock at a 15% discount off the market price.
Equity Incentive PlanGives all employees a chance to own part of the company they are working for.
Long Term DisabilityTesla will pay employees 60% of their monthly
earnings up to a maximum benefit of $5,000 after 119 days of not working due to medical incapability.
Short Term DisabilityEmployees are entitled to a period of 17 weeks during which Tesla pays 66.7% of their weekly earnings, to a maximum of $1,000 per week.
Life InsuranceIf an employee dies before reaching age 65, their beneficiaries will receive a lump-sum payment of two times the employee's annual earnings, to a maximum of $1,000,000.
Accidental Death & Dismemberment InsuranceThe lump-sum compensation is two times your annual earnings, to a maximum of $1,000,000.
Employee Discount Employees can receive up to 35% off Tesla products and services.
Business Travel InsuranceComprehensive travel insurance if employees are traveling for business
Employee Assistance ProgramGives support to employees 24 hours a day, 365 days a year. Can be used for any issues, concerns, or hardships.

What Employee Benefits is Tesla Known for?

Tesla employee benefits offer decent coverage and give employees financial and professional stability. Some of the most talked-about benefits include the following:

  • A good and affordable medical insurance plan that includes Dental and Vision coverage.
  • Compensation for overtime.
  • Salaried employees get an unlimited number of paid time off (unlimited vacation policy).
  • Company stock purchase at a 15% discount. The purchase option is available twice a year.
  • Legal consultation for a monthly fee of $18 a month.
  • 12 weeks of maternity and 7 weeks of paternity leave.

The best thing is that employees get their coverage such as health insurance at low premiums. Employees pay less than $20 monthly as their share of the premium.  You can also get coverage for a spouse or domestic partner by paying an additional monthly premium. Other health benefits include Quit for Life. Tesla offers every worker free enrollment in the Quit for Life tobacco cessation program. Those who sign up get free counseling along with free nicotine patches, free nicotine gum, peer support groups, and a personal Quit Coach.

Tesla benefits goes a step further than those at other companies. If employees are having difficulty understanding or negotiating their medical bills, the benefits advocates step in to help them resolve these issues. Tesla also offers the Equity Incentive Plan to workers who demonstrate exceptional commitment and ingenuity. This awards program gives free, vested stock shares to these workers.

You can also get benefits such as free identity protection and a 10% discount at all KinderCare daycare centers. Moreover, employees can also save on transportation through Tesla’s commuter benefits. The company reimburses workers who use public transportation through pre-tax benefits. Tesla also reimburses people who use their bicycles to get to work. These workers can get up to $20 a month for maintenance expenses on their bicycles.

Some factories and offices offer special commuter benefits. Employees that work at the Fremont factory, for example, have shuttles to San Francisco and other cities in the Bay Area. Employees that work at Tesla Gigafactory in Sparks, Nevada also enjoy excellent benefits.

Does Tesla Help with Student Loans?

Tesla Motors does not give its employees any student loan repayment benefits. There is also no information on its tuition reimbursement program. The company, however, does offer a 12-week training program that equips employees with the skills necessary to work at an electric car manufacturing company.

Student loans have turned into a major financial crisis for Americans. The collective outstanding loans have reached a record-high of $1.5 trillion. This staggering figure has made financial loan support the most important employee benefit. To get financial support, job seekers prefer to work for companies that offer some sort of student loan support. But there are not many corporations that do so.

But there is still hope as many companies plan to offer student loan repayment programs with their existing benefits package. The best way is to do it through FutureFuel. This unique platform that not only helps companies contribute to their employees’ student debts but also helps individuals manage their loans and pay them back faster.

How Do Tesla’s Employee Benefits Change for Different Jobs?

All Tesla employees get the same comprehensive benefits package. Reviewers state that the company doesn’t give its workers perks like game rooms or gym memberships.

Elon Musk, the CEO of Tesla, has said that Tesla “is the graveyard of Apple.” He meant that Tesla attracts the bright, creative workers who would normally be attracted to tech companies like Apple or Google.

Musk has said that workers at Tesla are primarily there because of their dedication to Tesla’s mission statement, which is “to accelerate the transition of sustainable transportation.”

Like most high-tech companies, Tesla demands dedication and long hours from its workforce. Unlike those companies, it is still struggling financially and cannot give employees the high-end perks that other businesses can offer.

How Tesla Improved Its Benefits Packages Overtime?

Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. The name pays tribute to the inventor Nikola Tesla. Former Tesla Employees had general benefits.

PayPal co-founder Elon Musk was an early investor in the company. In 2008, he became its CEO. Tesla employee benefits include the standard benefits and perks that workers have come to expect. Former employees did not enjoy the same benefits that current employees do.

Are Tesla Careers Worth It?

Most employees who post on Glassdoor and Indeed give Tesla good ratings for its benefits and pay. They have high praise for Tesla’s CEO as a visionary leader. Many employees say they’re working there because they want to be part of something transformative. From insurance benefits to stock purchase plan options, the company has a lot to offer.

At the same time, they point out the downsides to working there, including long hours and the fact that the skills they develop there aren’t transferable to other electric carmakers. Those who work at the company’s headquarters describe a terrible commute to Silicon Valley.

On the Ivy Executive review site, only 44% of respondents said they would recommend working at Tesla to their friends, 48% described it as a “great place to work” and 66% said they were proud to have the company name on their resumes.’

Several review sites noted that it’s difficult to get time off at the company. Workers can expect to put in long hours.

Despite these reservations, the competition for Tesla jobs is fierce. If you share the company’s mission and don’t mind hard work, it is probably a good fit for you.

Discover Tesla Jobs and Careers

Are you interested in working at Tesla? Tesla hires people in a wide variety of career areas:

  • Engineering.
  • Assembly line.
  • Plant management.
  • Production crew.
  • Electric auto technicians.
  • Vehicle detailers.
  • Showroom sales and employment.
  • Administrative functions.
  • Customer support.
  • Marketing.

Here are the best places to start your search.

Tesla Careers

The company’s web site is the first place to find positions and apply for openings. You’ll get information on the work environment, plants, showrooms, and corporate offices. This is also where you can apply for internships.

Tesla Indeed

Indeed lists hundreds of Tesla jobs at local dealerships in your preferred region. Some of these won’t show up on the company’s website, so it’s a great idea to add Indeed to your job hunt efforts. Search by the company name to narrow down your search.

Tesla LinkedIn

Get access to millions of job openings and recruiters on this networking site.

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