Tesla is an innovative, high-tech, American manufacturing company that produces electric cars, solar panels, and clean energy products. In 2020, it was the most attractive employer for engineering students seeking jobs in the US. Tesla employees work on state-of-the-art technology and enjoy Tesla benefits in addition to good salaries.
Tesla Salaries
PayScale reports that the average wage for Tesla employees is $102,000. Individual Tesla salaries, however, differ based on the position and job description. For instance, a process engineer at Tesla makes roughly $87,268 a year, compared to about $115,661 for software engineers.
Tesla employees receive good salary, frequent raises and incentives, and a plethora of benefits, even though employee reviews don’t place the company among the highest paying companies.
Tesla Employee Benefits
Benefits from Tesla go well with the business’s alluring compensation plans. Health insurance, life insurance, paid time off, retirement plans, wellness initiatives, and paid parental leave are all included in the majority of Tesla benefit packages.
Health Insurance
For its employees, Tesla offers full health insurance. Because it offers so many alternatives, the health insurance coverage is among the best in the car sector. Prescription medications, basic healthcare, medical supplies, hospital stays, and ambulance costs are all covered by Tesla’s health insurance.
On their first day of work, interns and full-time employees are also eligible for dental and vision insurance. Employees’ spouses and kids are eligible for Tesla dental and vision benefits in addition to medical coverage.
Life Insurance
Basic life insurance coverage are provided by Tesla to all full-time employees. Your beneficiaries receive a lump sum payment equal to twice your yearly salary, up to $1,000,000. Up to $2,000,000 in supplementary life insurance benefits, but no more than eight times an employee’s income, may be purchased by them.
Paid Parental Leave
Tesla is aware that in order to care for and bond with their children, new parents require time off. Workers are entitled to paid family leave for a maximum of sixteen weeks. New moms are entitled to nine weeks of paid time off, while new fathers receive six weeks. Both biological and adoptive parents can benefit from parental leave through Tesla.
Retirement and Financial Plans
To assist ensure a better future, Tesla offers a variety of financial options to its employees. You have the option to select between standard and Roth 401(k) plans for Tesla retirement benefits. Employees can purchase Tesla equities at a 15% discount through the Employee Stock Purchase Programme (ESPP).
Long-Term Disability Insurance
Employees at Tesla are automatically granted free benefits under the company’s long-term disability insurance policy. After 180 days of being unable to work due to a handicap, Tesla will pay up to two-thirds of your monthly wage. A monthly cap of $15,000 is placed on this benefit.
Short-Term Disability Insurance
Tesla’s short-term disability insurance is also free to employees. Tesla will pay 66.7 percent of your salary for up to six months. Employees receiving short-term disability pay can receive a maximum of $2,308 per week.