Working for Tesco

keelni

Hi I was wondering if anybody here works for Tesco?
I'm thinking about applying for a night vacancy with them but would like to know how much they pay and how their sharesave works. If anybody knows I would be very grateful for your help thanks.

mountainofdebt

Don't know how much Tesco pays (doesn't it say in the advert?) but I'm guessing that the share save works by you saving a set amount wach month for 3 years and then you can buy shares using the money saved. The price that you pay for each share is set at the beginning of the saving period so (theoretically) the share price by the time you come to buy them will be higher.

You don't have to buy the shares at the end of the saving period though.

scheming_gypsy

Yep, with the shares you'll put x amount away each month to but shares at a set price (possibly a discounted price). So if you can buy shares at £5 each and you spend £50 a month in the share save, you'll buy 10 shares a month. After 3 years you'll have bought 360 shares and you can sell them at the current price, so if they're worth £10 each at the end of the term you can sell them, so your £1800 turns into £3600

InsideInsurance

Is the vacancy directly with Tesco? Haven't had anything to do with them in a long while but it certainly used to be the case that the majority are through agencies and therefore wouldn't be eligible for any Sharesave scheme with Tesco.

Most sharesave schemes also allow you to be part of it for longer, though you have to decide at the start how long, in exchange for a bonus into the pot. They also typically allow you to receive your money back + a small amount of interest at the end to protect you against the situation where the shares have devalued from your option price (not to mention the likes of most the banks in particular)

*Kat*

I dont think you can get shares (SAYE/BAYE) until you've been there 6mths. As for pay, everyone's on a basic rate of £7 now...I know nightshift get more but I dont quite know how much, try googling for Tesco pay - I think it's like an extra £2 or something?

keelni

Thank you for the replies. I know day rate is £7.00 but couldn't find anything for nights. I've taken the plunge and put the application in anyway, if it is less than I'm on now then I probably won't take it.

JaymesKenin_2

There are two night premiums, one between 10pm-12am; 12am-7am (or 6am, I forget).
NP1 is roughly £1.60 + basic rate, NP2 is roughly £2.50 + basic rate.
Basic rate is £7+, then add location pay.

Share schemes are BAYE, SAYE & SIS.
Buy As You Earn can be started from day one. It's pointless, you buy at full price.
Save As You Earn can be started from 6 months. You buy at a discounted rate.
Shares In Success can be started with 1 years employment or more at June/July. Shares are issued to you based on your working hours.

keelni

Thank you JaymesKenin

threemuttleys

I get £7.45 ph (days)

JaymesKenin_2

I forgot to add - the pay I've given you is for established staff, you'll start on a little less for 6 months. You get your staff discount after that period, too.

DCFC79

Can i ask if the pay is the same for tesco metros, express stores.

Thanks