26,000 employees get 18.7% bonuses

[mickeyd]

USAA rewards their employees annually with a bonus. This year it was 18.7%, almost the same as last year. Probably why they always render excellent service.

USAA employees learned Tuesday they will receive a bonus equal to 18.7 percent of their annual base salary.
That's just a notch below last year's bonus of 18.8 percent — which matched 2010's for the highest ever awarded by the San Antonio-based financial services company.

USAA awards 18.7% bonus - San Antonio Express-News

 

[savory]

My privately held megacorp use to have a company wide profit sharing program. (They still may) I thought it was great for teamwork and performance. Upper management questioned if it made people complacent. I did not think so then or now. I think it should be used in most if not all companies to provide the feeling of ownership supporting better performance for many employees.

 

[Lisa99]

Wow! At my megacorp I put one employee in for a 6% bonus last year and had to justify it three levels up.

 

[kitesurfer2]

now i know why my insurance is so expensive!

 

[Car-Guy]

now i know why my insurance is so expensive!

Exactly what I was thinking about my insurance rates.

 

[GalaxyBoy]

I worked for a company that paid large bonuses. In their case, the base salaries were correspondingly lower, so in years when business was poor everyone essentially took a pay cut. An annual side effect was a large concentration of turnover in the month immediately following issuance of bonus checks.

 

[Chuckanut]

Here's one group who think their bonus was not up to snuff:

Boeing bonuses disappoint white-collar staff | Business & Technology | The Seattle Times

The annual bonuses Boeing will pay out next month to engineers and other salaried nonmanagement staff will be substantially lower than last year’s, news that is frustrating employees after the jet maker just announced record profits.

 

[ExFlyBoy5]

now i know why my insurance is so expensive!

Might I recommend Amica? I too had USAA (about 15 years) and every year my premiums increased with nary a claim. I heard a few good stories about Amica so gave them a call. The homeowners was about the same but the auto insurance was HALF the cost of USAA. Today I've been with Amica for 4 years and our insurance premiums on the cars and home are actually LOWER than last year! That never happened with USAA.

Also, if you're concerned with customer service, they get the same awards and accolades as USAA does.

Sent from my mobile device so please excuse grammatical errors.

 

[jimnjana]

I think USAA needs to remember that it is a member owned organization. I don't mind bonus's being paid, but I think this is too much. After awhile an annual bonus becomes an expectation vs a reward. In regards to their customer service, i have noticed that it is not the same as it was 10 yrs ago. I would rather bonuses be paid to specific individuals for superior service, not an across the board bonus. BTW the new Saudi King just awarded all his gov'ts public servants a two month salary bonus. Hmmmm....

 

[nash031]

USAA rewards their employees annually with a bonus. This year it was 18.7%, almost the same as last year. Probably why they always render excellent service.

Not always. Their mortgage division in 2011 was a disaster. I won't use them again. Otherwise, I've been pleased with everything else from USAA.

 

[ExFlyBoy5]

Not always. Their mortgage division in 2011 was a disaster. I won't use them again. Otherwise, I've been pleased with everything else from USAA.

The issue with the mortgage department was that much of the loan processing was contracted out. When the DW was a realtor in Texas, it got to the point that she avoided any clients that were going to use USAA for the mortgage. They were often quite disappointed on the lackluster customer service and always late closings. Perhaps they have improved that department but it was bad enough that I wouldn't even consider using them if I was mortgage hunting.

Sent from my mobile device so please excuse grammatical errors.

 

[Hermit]

DW was a loan officer 5 years ago in the Hampton Roads area with a very large concentration of military. She actually felt bad for the military members that would not shop for a loan outside USAA. She had better rates and much faster turnaround.

 

[braumeister]

Speaking just for myself, I've always had great service and great rates from USAA, in every department. Maybe I'm just easily pleased.

And if you're an old fart like me (more than 40 years USAA membership), they're also very generous with their Senior Bonus (rebate on your insurance bill).

 

[target2019]

This is a wild guess at the average salary of USAA CSR or similar position: $50,000.
So an 18% bonus works out to be $9,000.
I don't see that as extraordinary.

 

[Greencheese]

This sounds a lot like one of the big 3 automakers I believe. Essentially the base salary was fairly low but the bonus potential was high. Honestly I didn't think it was a great situation because you made less money and if the company had a rough spot you basically wound up not getting paid. I'd rather have a steady/guaranteed income with a small bonus than 20%+ of my salary tied up in a payment that is lump sum and may or may not even occur.

 

[Dreamer]

My DD and her DH had a very bad experience using USAA for a home mortgage. They ended up not getting the house. They went through a local mortgage company on the next house and did not have a problem.

 

[timo2]

My DD and her DH had a very bad experience using USAA for a home mortgage. They ended up not getting the house. They went through a local mortgage company on the next house and did not have a problem.

My original mortgage from the 1990's was with USAA. Everything went perfectly and the closing was great, as was a refinance about 10 years later. Over time I was unhappy with the firms to whom they were contracting out their mortgage tasks. Not that anything went wrong, it just had an uneasy feeling. When I went to refinance recently when rates dropped to the floor, USAA was still contracting out to some of the companies that got bailouts, and all my phone calls ended up at Wells Fargo. So I went with my local credit union, which so far has been great.

Hopefully they have straightened things out. I plan on moving in 4 years, and I will check it out then.

 

[aja8888]

Last November, we shopped our car, home and umbrella policies since we moved the year before and wanted to get rates for the new area.

Lowest rates were with Amica, highest with USAA and I am a Vietnam veteran. Guess who we went with?

 

[ExFlyBoy5]

Last November, we shopped our car, home and umbrella policies since we moved the year before and wanted to get rates for the new area.

Lowest rates were with Amica, highest with USAA and I am a Vietnam veteran. Guess who we went with?

Welcome to the Amica crowd! Since its February, I should be getting my dividend check anyday now!

Sent from my mobile device so please excuse grammatical errors.

 

[aja8888]

Welcome to the Amica crowd! Since its February, I should be getting my dividend check anyday now!

Sent from my mobile device so please excuse grammatical errors.

I forgot about that perk.

Not only did we switch, but DD switched her policies to Amica before the end of the year.