Tesla benefits supplement the company’s alluring benefits packages. The majority of Tesla benefit packages include health insurance, life insurance, retirement plans, paid time off, paid parental leave, and wellness initiatives.
Tesla employees are covered by full health insurance, which is among the best in the automobile sector because of its wide range of possibilities. Tesla’s health benefits package covers prescription medicines, basic healthcare, medical supplies, hospital lodging, and ambulance costs.
Full-time employees and interns are also qualified for dental and vision insurance on their first day of work. Tesla also offers dental, vision, and medical insurance to employees’ spouses and children.
Tesla provides minimal life insurance benefits to all full-time employees. Your beneficiaries receive, up to $1,000,000,000, a lump sum payment equal to twice your annual wage in the case of your death. Workers may acquire supplementary life insurance benefits for a maximum of $2,000,000, equivalent to eight times their annual wage.
Tesla knows that new parents require time off to care for and form bonds with their offspring. Workers are entitled to a maximum of sixteen weeks of paid parental leave. Paid time off is available for six weeks for new fathers and nine weeks for new mothers. Both biological and adoptive parents are eligible for Tesla parental leave benefits.
To help ensure a better future for its workers, Tesla offers a variety of financial options. For Tesla retirement benefits, you have a choice of standard or Roth 401(k) plans. Employees participating in the employee stock purchase programme (ESPP) can purchase Tesla equities at a 15% discount.
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.
Tesla employees are also eligible for free short-term disability insurance. For six months, Tesla will pay 66.7 per cent of your wages. The weekly maximum benefit that employees eligible for short-term disability pay can receive is $2,308.
Tesla knows the physical toll labouring in the hectic automotive sector can have on an individual. As part of the company’s wellness programme, Tesla employees are eligible for a subsidised membership to the fitness app Gympass, which includes live-streamed exercise classes and personal training sessions.
According to PayScale, annual incentives for Tesla employees range from $3,750 to $27,500, with an average bonus of $8,858. Senior software engineers receive the largest annual bonuses, while production associates receive the lowest.
Tesla offers signing bonuses and annual bonuses to entice the best people in the business. According to a comparison study, half of the 12 Tesla employees who participated received a signing bonus that ranged from $1,000 to $5,000. According to further employee reviews, master’s degree holders may be eligible for signing bonuses of up to $10,000.