A lot of people don’t see a career in customer service jobs as a way to secure financial freedom. When most shop at their local Costco, they don’t imagine their store clerk being on track to millionaire status. But one Costco employee is making headlines for the $1 million he has tucked away, and he says it wouldn’t have been possible without his employer.
A new Wall Street Journal article highlights Costco’s business model of paying employees above the minimum wage and how it sets them up for financial success. Cashier Tony Barzar, a longtime employee of the wholesale retail giant, earns $33 an hour, and his retirement savings total over $1 million.
In 2009, the now 62-year-old’s family bought a three-bedroom, two-bath house with a pool. They’ve traveled to Europe twice since. “I didn’t think me and my family would reach where we sit now,” he said, reflecting on his thoughts growing up. “I could retire, but what would I do? Costco has been good to me.”
Costco has a reputation of paying its employees more than most U.S. retailers to help keep turnover low. Barzar has been offered managerial roles throughout the years in the company, but says he’s happy with his current position. Aside from the money he earns, Barzar says Costco has provided him with flexibility and stability. He considered other jobs, specifically applying to be a firefighter several times, which was a disappointment. But he says Costco offered him professional growth. “It just gave me a sense of—don’t leave, ride this one out,” he said.
Other benefits have been life-saving. After his wife of 26 years was diagnosed with stage 3 brain cancer, his Costco health insurance covered the full cost of her three brain surgeries. He was able to take paid leave for nearly a year to help his family.
