Tiffany & Co. is a globally recognized luxury retailer. Employment includes a compensation structure competitive with the high-end retail sector, featuring access to a merchandise discount. Understanding the structure of this discount, including the percentage, qualifying staff categories, and limitations, is necessary for anyone considering a career with the jeweler. This analysis details the employee discount program and the accompanying perks offered to the company’s workforce.
What is the Standard Employee Discount?
Employees of Tiffany & Co. receive a discount on merchandise, typically set at 30% off the retail price. This applies to a broad selection of products, including jewelry collections, watches, and accessories.
The discount percentage is not static, as special internal sales events may be offered throughout the year. During these exclusive employee sales, savings can increase, sometimes reaching up to 50% off select items. These deeper discount opportunities are temporary and apply only to specific inventory selections.
Eligibility Requirements for Staff
Access to the merchandise benefit is extended to a wide range of employees across the company’s operations. Both full-time and part-time staff members are eligible for the program, regardless of whether they work in a retail store or a corporate office function.
New employees must complete a probationary period before the discount becomes active. This waiting time varies based on the specific role, often ranging from 30 to 90 days after the date of hire. Seasonal or temporary workers may also qualify, but their access or the scope of the discount may be more restricted than that offered to permanent staff.
Former employees who retired or left the company in good standing can sometimes retain access to a limited version of the discount program. This provision acknowledges long-term contributions and helps maintain a positive relationship with past members of the workforce. Eligibility must be verified according to the company’s policy for former staff.
Restrictions, Exclusions, and Usage Guidelines
The employee discount program is subject to strict guidelines designed to protect the integrity of the Tiffany brand and its pricing structure. Certain merchandise categories are explicitly excluded from the discount, most notably high-end or limited-edition items such as High Jewelry pieces. The most valuable, unique, or custom-designed products are not eligible for any price reduction.
The discount is intended strictly for personal use. Company policy prohibits employees from purchasing items for resale or on behalf of individuals outside the approved circle. Employees are subject to quantity limits on the number of items they can purchase at the discounted rate within a given period. Violation of the no-resale policy can result in disciplinary action, including termination of employment.
The company allows the discount to be extended to immediate family members, but this use is tightly controlled. Family members must often provide documentation, such as a marriage or birth certificate, to prove their direct relationship to the employee. Employees are prohibited from processing or authorizing any sale, credit, or disbursement involving themselves, their family, or anyone in their household.
Other Notable Employee Perks
Beyond the merchandise discount, Tiffany & Co. provides a comprehensive suite of benefits typical of a large, established corporation. This package includes standard protections such as medical, dental, and vision insurance, along with life insurance and disability coverage. Employees also benefit from paid time off, paid holidays, and flexible spending accounts to manage healthcare and dependent care costs.
The company offers a 401(k) retirement savings plan, which includes a company match. The retirement plan also features an Employee Stock Ownership Plan (ESOP) component, providing staff with a direct stake in the company through contributions of company common stock. This structure aligns employee interests with the long-term success of the organization.
Employees have access to wellness and professional development resources through programs like “My Tiffany,” which focuses on mental, emotional, physical, and financial health. The company also supports staff philanthropic efforts through the “Tiffany Cares” program, which matches employee donations to eligible charitable organizations.