Employee Benefits of Starbucks
There are numerous job opportunities at Starbucks, spread throughout the different departments of the company. You can work on the retail side of things and be a store manager or barista, or work your way into the corporate office. Or perhaps you're interested in joining Starbucks' massive manufacturing and distribution network, helping to produce and deliver the beloved coffee worldwide. Whatever path you choose to take, you'll be entitled to some of the best employee perks
offered by any company today. And better yet, you're able to customize and personalize your Starbucks Employee Benefits, mixing and matching from a vast menu until you find what suits you best. There's a lot of information out there about what's available and what's important, and it can be a lot to sort through. We've compiled the definitive Starbucks Employee Benefits Guide and we'll share what we've learned after examining the program piece by piece.
Starbucks Paid Time Off
When you work at Starbucks you'll get plenty of sick leave, including paid days off. You'll start accruing sick days from the moment you begin your employment, up to 40 hours per year. If you're working on a salary in a non-retail position, you'll get an additional 2 personal days per year, one of which can be used every six months.
Starbucks Benefits for Commuters
If you commute to work, you'll be eligible for some help with the related expenses. You still have to pay out of pocket, but Starbucks allows you to deduct certain costs by withholding the amount straight from your paycheck. When done this way, you effectively get that money tax free under an IRS exemption, which reduces the overall cost to you through savings equivalent to a maximum of 2 months pay. Eligible deductions include things like public transportation fares and parking fees, while things like taxis and tolls are not deductible.
Starbucks Paid Holidays
There are 7 paid holidays per year for Starbucks employees including New Year's Day, Martin Luther King Jr. Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. If you happen to work on one of these holidays, you'll be paid 1.5 times your normal hourly rate.
Starbucks Stock Investment Plan
Owning stock in one of the world's largest coffee companies is a great benefit that is not just reserved for those working in the corporate office. All employees are eligible to participate in Starbucks' Stock Investment Plan which deducts money from your paycheck in order to purchase Starbucks stock in your name at a discounted rate. The way it works is that Starbucks will withhold the pay for the duration of each quarter with the discounted stock being purchased on the quarter's final day. You can enroll in the program or make changes to your status during the first two weeks of March, June, September, and December. The program is done in cooperation with Fidelity, and if you'd like more information, you can call a Fidelity advisor at 866-697-1048. They are available Monday-Friday from 5:30am to 9pm Pacific Time.
Starbucks Bean Stock
In addition to the SIP, you'll get the opportunity to participate in Bean Stock, Starbucks' program that enables you to receive Restricted Stock Units (RSU).
These are shares in Starbucks that have to remain untouched for a vesting period of two years, after which you'll get them if you're still a Starbucks employee. Half of the shares vest to you after the first year with the balance reaching you after the second year, making this a great way to reward you with an actual ownership stake in Starbucks for your continued employment with the company. Once the shares are yours, you are free to sell them. Best of all, enrollment in the program is automatic for most Starbucks employees.
Health Benefits at Starbucks
As a Starbucks employee, you can choose a health plan that suits your particular medical situation. With various coverage levels, you'll be able to find the right plan and deductible that work for you. You can also explore expanded plans that include a vision or dental component in case those are areas you feel you might need covered. You also have the option of opening a Health Savings Account or a Dependent Care Reimbursement Account
which can help pay expenses associated with the care of your little one, including preschool, summer day camp, or after school programs.
Tuition Coverage from Starbucks
Starbucks has partnered with Arizona State University
to offer bachelor's degree candidacy to its employees. Starbucks will cover all expenses related to your education, including tuition and associated counseling expenses. You'll have your choice of over 100 online bachelor's degree programs offered via ASU including diverse and exciting topics such as Anthropology, Digital Photography, and Biochemistry. Starbucks will cover the majority of costs up front, excluding expenses like textbooks and any related supplies you might need for your classes. You can browse available degrees
to get a feel for what's possible with this benefit.
If circumstances become difficult for you, Starbucks will help you for the costs associated with illness or death in your family, or natural disasters that might befall you. This has proven very beneficial to Starbucks employees who have lost their homes due to unexpected incidents, such as fires or floods, or have tragically lost their partner. These expenses are covered through the Caring Unites Partners (CUP) Fund, which collects contributions on an ongoing basis from other Starbucks employees. For example, when a Starbucks employee makes a purchase at Starbucks, they can round the check up to the nearest dollar with the difference going toward CUP. Employees in need then apply for grants that do not need to be repaid. You can also donate directly to the fund by sending a PayPal transfer to [email protected]
. If you would like to apply for a grant, you can call the Starbucks Employee Contact Center at (888) 728-9411.
Starbucks 401K Savings Account
Starbucks has a great financial planning benefit called 'Future Roast,' which helps you save for retirement and other financial goals. If you enroll in the program, Starbucks will automatically deduct money from your paycheck and deposit it into a retirement account of your choosing. You choose the amount you want to set aside, up to 75% of your paycheck until you hit the legal limit, and Starbucks will then match it, up to the first 5% of eligible pay you contribute. That means by choosing this option, you are increasing your personal savings with the company's money. You'll be eligible for Future Roast as long as you're over 18 and have worked at Starbucks for at least 90 days.
Starbucks Care@Work Child Care
The Dependent Care program at Starbucks is called Care@Work and is done in conjunction with Care.com. As long as you work at a company-owned Starbucks in the United States, you'll receive partial reimbursement for childcare expenses, up to 10 days per year. Just how much is reimbursed? As part of the Care@Work program, your maximum expenses on hiring in-home childcare help will be just $1 per hour. If your child needs to attend a care center, the most you'll pay is $5 per hour, with Starbucks subsidizing the rest.
Starbucks Senior Care
While Child Care is always top of mind for young parents, Senior Care is another legitimate concern. Starbucks also provides resources to help with this, including providing access to a Senior Care Advisor who can help you plan for the future of your senior-aged loved one. This service is offered to Starbucks employees for free, and if you do need to hire a Senior Caregiver, you'll pay a maximum of $1 out of pocket for in-home visits.
Paternity and Maternity Leave
If you are having a baby, you may be eligible for time off. Better still, Starbucks may reimburse you for the paychecks you miss during this period of growth for your family.
Family Expansion Reimbursement
As long as you're a Starbucks employee who is enrolled in a health plan through Starbucks, you may be eligible for reimbursement of expenses associated with growing your family through adoption, surrogacy, or Intrauterine Insemination (IUI). The reimbursement is significant as Starbucks will cover up to $30,000 of expenses per couple, distributed as $10,000 payouts per each individual instance of adoption, surrogacy or IUI.
Starbucks Employee Perks
In addition to the numerous employee benefits offered to Starbucks employees, the company also provides a nice selection of lighter perks that add plenty of value. Here's a full list:
Free Spotify Premium
Instead of shelling out $9.99 for a subscription to Spotify Premium, you'll get it absolutely free as a member of the Starbucks team. Your subscription will even integrate with the Starbucks App which gives you access to in-store playlists.
Free & Discounted Starbucks
You'll get 30% off all beverages, merchandise and food at Starbucks. And, if you're employed in a company-owned store, you'll get 3 free handcrafted beverages– one during a break in your shift and the other two a half-hour before and a half-hour after your shift. You can also take one free food item from the pastry section or grab-n-go case per shift. On top of all that, you'll get a free pound of ground coffee or a box of tea each week.
Starbucks Fitness Credit
You can request up to $240 per year as a reimbursement for fitness events in which you've participated.
Employee Recognition & Partner Resources
Starbucks recognizes exceptional employees through their Employee Recognition Programs, which enable you to accelerate your career through great work ethic and positive attitudes. In addition, you'll have access to Starbucks Partner Networks, which provide great opportunities to meet and learn from colleagues at every level, all across the company.
Starbucks Employee Shopping Discounts
You can get significant discounts through the expansive Starbucks affiliate network,
which provides preferred pricing on more than 30,000 products in categories like Electronics, Home Appliances, Food, Groceries, Travel, Fitness, and more. You can even take a whole host of free classes through Community Online Academy (COA) on subjects that are of interest to you. Among the most notable rewards in this program is a $650-$7,200 credit after buying a home.
Starbucks Elite Athlete Program
Among Starbucks' 380,000 employees are some very talented nationally or international ranked athletes. These employees get a credit in their monthly paycheck to help them pay for expenses associated with competitions, such as entry fees, equipment, or travel. Each May, Starbucks opens the application process to all athletes, even at the amateur level.
Starbucks Gift Matching
If you've made a donation of $25 or more, you may be eligible for gift matching from Starbucks. Employees who contribute to certified nonprofits can get up to $1,000 in donations matched each year, including on time they've volunteered, credited at $5 per volunteer hour that is properly tracked in the Community Champion Portal.
Starbucks Benefits - Final Thoughts
With nearly 34,000 locations and more than 10 times as many employees, Starbucks depends heavily on its workforce. Demonstrating a major commitment to the health and wellness of their team members has been a major initiative for the company over the years, and it definitely shows in their generous benefits package. Creating a deep and principled infrastructure for employee development has enabled Starbucks to hire, cultivate and retain great talent, while employees benefit from valuable and diverse career opportunities. For this reason, Starbucks employee benefits program is one of the best in the business, and counted among the many reasons for the company's overall success.