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.

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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.

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?

Low premiums: Tesla offers health insurance that most employees rate as excellent. Employees pay less than $20 monthly as their share of the premium. The insurance includes dental and vision plans.

Domestic Partner Coverage: Workers can get coverage for a spouse or domestic partner by paying an additional monthly premium.

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.

Medical Bill Help: Tesla’s benefits staff 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.

Employee Stock Purchase Plan: Employees can purchase stock in the company at a 15% discount. They have the option to do this twice a year.
Equity Incentive Plan: Tesla offers this to workers who demonstrate exceptional commitment and ingenuity. This awards program gives free, vested stock shares to these workers.

Identity Theft Protection: Tesla offers free identity protection to all employees.

KinderCare Discounts: Tesla workers get a 10% discount at all KinderCare daycare centers.

Commuter Benefits: Tesla 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.

Legal Assistance: Employees can sign up for MetLaw, a service that provides legal consultation for a monthly fee of $18 a month.

Does Tesla Help with Student Loans?

The student loan crisis affects millions of young workers and their parents. Companies are concerned that a fear of college debt will keep future workers from attaining the skills that employers need.

This concern has led to discussions among human resources and benefits managers about the best way to help these employees. Student loan assistance could help employers stand out and ensure that workers get the high-level skills they need.

According to a recent report in Benefit News, student loan assistance has become the top benefit that employers would like to offer their workers.

Some companies are helping with refinancing plans that let their employees make smaller monthly payments. These companies include Microsoft, Goldman Sachs, and SoFi.

Congress is currently reviewing a bill that would give corporations tax breaks for helping their employees refinance their loans. If it passes, the bill will encourage more companies to offer help.

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 Over Time

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

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.

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.

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.

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.

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

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