How to Make Money

Costco’s New Starting Pay is So Good, You Might Want to Apply

March 10, 2016
by Susan Shain
Senior Writer
costco pay

We’re big fans of Costco when it comes to saving money — but what about when it comes to earning money?

Turns out, it might be helpful there, too.

The wholesale retailer just decided to raise its entry-level wages, The Seattle Times reports.

This is big news, because although Costco reviews its pay scales every three years, it hasn’t raised its entry-level wages since 2007.

When you see how much you could earn, you might be tempted to apply.

How Much is Entry-Level Costco Pay?

Costco’s current entry-level wage in the U.S. and Canada is $11.50 to $12 per hour, according to The Seattle Times.

But starting this month, it will increase to $13 to $13.50 per hour.

For an entry-level position, that’s pretty awesome. To put it in perspective, it’s more than 30% greater than Walmart’s starting wage of $10 per hour, or BJ’s $9 per hour.

Plus, the majority of Costco employees quickly move beyond that pay.

“About 60 to 65 percent of Costco’s employees make top-scale wages, which are in the $23 range,” Costco’s chief financial officer Richard Galanti told The Seattle Times.

And the journey from entry level to top level is fairly short: around 4.5 years, according to Galenti.

Starting at $13 per hour is already pretty good — and moving to $23 per hour within five years? We’d say that’s a career path worth checking out.

Click here to learn about open jobs at Costco.

Your Turn: Are you surprised by how much Costco employees earn? Would you work there?

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

by Susan Shain
Contributor for The Penny Hoarder

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