Airbnb's benefits are top notch. Here's why.
Airbnb has indisputably been one of the largest, most successful disruptors to the lodging and hospitality industry. Its success speaks for itself, as Airbnb boasts 150 million users, and has hosted 400 million guests since its launch in 2008. 53% of travelers use Airbnb because of price, and 49% of users in 2016 said they utilized the service instead of staying at a traditional hotel.
Clearly consumers love it, but what makes Airbnb such an attractive company to work for? Part of the appeal stems from the employee benefits packages, enabled by the company's widespread success. So, if you’ve ever considered sending your resume to an Airbnb recruiter, here are some key benefits you should consider when weighing a potential offer against others.
First and foremost, maintaining competitive wages is essential to attracting top talent. Airbnb understands this and has built a strong base salary into every position. Average wages per department can be found here on Zippia, and all stack up against other industry giants like FAANG.
Equity in the company is another factor in determining wage. However, since Airbnb is yet to have an IPO, employee stock benefits are greater than most publicly traded companies. In addition to competitive wages, Airbnb also offers career development programs and technical skill training to all of its employees.
According to many former and current employees, medical, dental, vision, life insurance, and disability benefits are all major pros to working at the company. All the aforementioned insurances are covered fully for the employee and up to 70% for dependents, according to Glassdoor reviews.
There are a variety of healthcare plans and deductible options, but your precise options will be dependent on negotiation and your family situation. Airbnb also gives 22 weeks of paid leave to birthing parents, while non-birthing parents receive 10 weeks. Though this is inconsequential compared to the full year offered to Amazon employees, it is important to note that they have some semblance of paternity and maternity leave.
In the tech world, 401k matching policies can be a huge priority, with most employees agreeing that long-term financial security is a key concern when weighing benefits packages. According to BenefitsPro, Airbnb encourages their employees to invest up to 5% of their earnings in a 401(k), while matching up to 75% of those contributions.
“Whatever AIRBNB contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave AIRBNB.”
Another important consideration is the amount of paid time-off (PTO) offered to employees during a calendar year. Airbnb offers 3-4 weeks of PTO to its employees, and recognized national holidays are also paid. When ranked by employees, Airbnb’s PTO and holiday policies are ranked as the third most important part of the benefits package, with 28% of employees ranking it as the most important benefit. They estimate its cash evaluation to be around $1,500-$2,500 per month.
However, it is important to note that this package is reported to vary dependent on the time spent within the company. Comparably reports that
“43% of employees with a tenure of Less Than 1 Year say that their PTO policy consists of 15-20 days of paid vacation and sick time. Whereas, 67% of employees with 2 to 5 Years say they receive 20-30 days of paid vacation and sick time as part of their PTO.”
Airbnb also offers PTO for volunteering, for up to 4 hours per month. They donate $20 per hour of your volunteer time to the organization you volunteer at. So, Airbnb encourages its employees to invest in local communities, both culturally and financially. They also allow employees to select what organization to spend their PTO at, a benefit rarely found at organizations.
Before the Covid-19 panic forced most employees to work from home, Airbnb offered some of the most innovative offices in tech, with a variety of perks available. According to Glassdoor reviews by current and former employees, the office eco-system created by Airbnb is unbeatable. Top-notch food, beverages, and snacks are prepared daily by an in-house chef. Office therapy dogs are common and Apple technology is easily accessible.
With offices in cities like New York, San Francisco, Miami, and Portland, there are opportunities to relocate to a city you’re interested in. For those who wish to expand their career abroad, Airbnb has offices in countries like Brazil, Ireland, China, and Japan, to name a few. They also offer relocation assistance packages to new employees, comparable to other tech start-ups. However, the cash evaluation of these offers varies greatly and is highly dependent on negotiation.
Imagine if your job encouraged you to travel in the best way possible: by paying you to do it. If you wish to meet new people and see new places, consider working at this hospitality giant. According to Insider, Airbnb offers its employees $500 quarterly ($2,000 annually) to stay in Airbnb listings anywhere in the world. With listings in 191 countries, the options are truly endless. Not only will you be compensated for your time off through Airbnb’s PTO benefits, but you will have this additional funding to finance living arrangements on whatever vacation you might choose to take.
Outside of personal travel, there may be travel expenses associated with your work. Uber and Lyft credits are common when traveling on business, and commuter benefits are offered to those who have a demonstrated cost when traveling daily to the office. Deals with public transportation for those without vehicles are another commuter benefit offered by Airbnb.
With all of this in mind, it is important to consider recent developments. Covid-19 has impacted travel and, thus, has shaken Airbnb’s business model. According to NPR, Stock valuations for the company have dropped, 25% of its workforce (or 1,900 jobs) have been cut, and CEO and co-founder Brian Chesky projects the company’s revenue to be less than half of what is expected for the 2020 fiscal year. A hiring freeze has also been announced in recent months.
With the future of travel uncertain, Airbnb will see large internal changes as it attempts to navigate the uncertain waters of the Covid-19 pandemic.
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