Best Buy offers a variety of benefits to its employees, including competitive wages, discounts, and a comprehensive benefits package. The company also caters to entry-level workers, providing a good first job opportunity for those without prior experience.
Pay Scale and Discounts
Employees at Best Buy are entitled to a 20-60% discount on products, with the discount amount based on the difference between the retail and wholesale prices. For instance, if the retail price is $500 and Best Buy’s cost is $250, employees would receive the product for $275.
Cashiers at Best Buy have seen an increase in their wages, now averaging $16.10 per hour, which translates to about $33,488-$36,500 annually. Likewise, customer service specialists earn close to $15.90 per hour, totaling approximately $33,072 yearly.
On the whole, Best Buy employees earn an average of $14 per hour or $30,000 annually, which is 75% less than the national average salary of $66,000. The disparities in pay are significant within the company, with the highest paid position, Senior Sales Consultant, making $57,408,000 annually while the lowest, Media Sales Representative, making $16,000.
The starting wage at Best Buy averages about $10.50 per hour, and full-time employees are guaranteed a minimum of 32 hours per week. Increases in pay can reach up to 7% annually, based on performance evaluations. Recently, Best Buy announced the increment of the starting hourly wage for all domestic employees to $15, effective August 2, highlighting the company’s strong performance and commitment to employee well-being.
Entry-Level Opportunities and Additional Benefits
Individuals aged 16 and over are welcome to work at Best Buy and can take advantage of the employee discount after three months of employment. Entry-level sales associates begin at an average of $9.50 per hour, while their experienced counterparts can expect to make about $11 per hour.
Aside from monetary compensation, Best Buy offers a suite of benefits including healthcare, retirement plans, insurance, and disability coverage, reinforcing the appeal of the company to both prospective and current employees.