Chipotle’s New Hire Incentives Include Student Loan Payoff

Fast-food giant Chipotle is providing new hire incentives just in time for the busy burrito season. A company statement reveals there are plenty of incentives for those looking for employment.

Per the press release, Chipotle’s new benefits prioritize financial and mental health. For the first time, they are offering a Student Loan Retirement Match program.

Chipotle will utilize SoFi’s Student Loan Verification service once an employee becomes eligible for Chipotle’s 401(k) plan match. Then, the company will match up to 4% of an employee’s salary through contributions to their 401(k) if they make eligible student loan payments.

are u in ur bowl or burrito phase? pic.twitter.com/thQ6LLgefI

— Chipotle (@ChipotleTweets) January 5, 2024

Chipotle is also allowing all company employees access to a special high-tech Visa card that can build credit. By accessing this card, employees will have faster access to their paychecks and the opportunity to develop and boost their credit scores.

Chipotle’s New Employee Assistance Program will include six free sessions with a licensed counselor or mental health coach. Employees will also have access to tools, resources, and community support for legal, financial, and family matters.

All these new benefits come on the heels of the company looking to hire 19,000 additional employees for its upcoming “burrito season.” This is reportedly the company’s busiest time of year, from March to May. This season traditionally sees a spike in demand at Chipotle, as warmer weather and more daylight prompt Americans to spend time outdoors and visit the company’s outlets frequently.

Chipotle has historically seen its highest sales volume in the spring season, a spokesperson said, adding that the 19,000 open roles include full- and part-time restaurant positions.

“Empowering our talent is embedded in our company’s culture,” said Ilene Eskenazi, chief human resources officer at Chipotle. “As we push toward our long-term goal of operating 7,000 restaurants in North America, it’s crucial that we listen to and adapt to the needs of our team members, so they can grow with us.”