Credit Acceptance Referral Bonus

Credit Acceptance offers a referral bonus program to encourage employees to refer talented individuals to join their team. This program is designed to reward employees for helping the company grow by bringing in qualified candidates, particularly for tech and product roles. Below are the details of the referral bonus program:

Referral Bonus Overview

1. Eligibility:

   • All current employees, except those in HR or recruiting roles, are eligible to participate in the referral program.
   • Referrals must be for open positions at Credit Acceptance.

2. Bonus Amounts:

   • Tech/Product Roles: These roles are critical to the company's growth and innovation strategy, so they often come with higher referral bonuses.
     • Software Engineers: Up to $5,000
     • Product Managers: Up to $4,500
     • Data Analysts: Up to $4,000
   • Other Roles: Non-tech/product roles may have different bonus structures.
     • Customer Service Representatives: Up to $1,500
     • Sales Associates: Up to $2,000

3. Payment Structure:

   • The bonus is typically paid in two installments:
     • 50% after the referred candidate completes 90 days of employment.
     • 50% after the referred candidate completes 6 months of employment.

4. Referral Process:

   • To refer a candidate, employees must submit the candidate’s information and resume through the company’s internal referral portal.
   • The referred candidate must mention the referring employee during the application process.

5. Conditions:

   • The referred candidate must not have applied to Credit Acceptance in the last 12 months.
   • The referral bonus is only applicable if the candidate is hired for a full-time position.

Benefits of the Referral Program

• For Employees: The referral program provides a financial incentive for employees to engage in the recruitment