USAA increases minimum pay to $21 per hour for all employees

USAA announced that it’s increasing minimum pay from $16 to $21 per hour, or $43,680 annually. This increase went into effect on Oct. 10. Employees can earn an annual compensation package worth up to approximately $53,940 with the holiday bonus, annual performance incentive, 401(k) match, and pension, which is equivalent to nearly $26 per hour.

In addition to the increase in minimum pay, USAA also announced that it will fill 2,600 positions by the end of the year. Approximately 1,500 are located at the company’s headquarters in San Antonio, with the remaining positions spread across its other campuses to include Phoenix (200), Tampa (200), Colorado Springs (100) and Dallas (100). Many of the positions have the option to work in a hybrid or remote model that was implemented earlier this year. Available positions include member service representatives, auto and property claims adjusters, data engineers, data scientists, IT analysts, software engineers, and underwriters.

USAA, like many employers across the nation, recognizes how competitive the current job market is. With such a talent-rich candidate pool across the country, USAA will continue to encourage its current employees to recruit mission-driven individuals to be a part of the USAA team. Employees will be eligible to earn up to a $2,000 referral bonus.

Several other benefit enhancements also go into effect in 2022 as part of USAA’s comprehensive pay and benefits package including:

  • No medical, dental or vision insurance premium increase in 2022
  • USAA Childcare Reimbursement Program for employees making less than $100,000 base salary
  • New college scholarship program for employee dependents with a financial need
  • New paid leave program for family events such as caring for a sick family member
  • Family support benefit up to $20,000 to cover adoption, surrogacy, and infertility treatment expenses

“USAA’s employees are the heart of our association and providing a competitive pay and benefits package is one way we reward them for providing exceptional service to military members and their families. Increasing our minimum pay and enhancing our already comprehensive benefits package helps ensure we’re being responsive to our employees’ needs and dynamically changing market conditions.” – Wayne Peacock, president and CEO of USAA.

“Every day our employees choose USAA because of the purpose-driven mission and meaningful career opportunities to give back to military families. We cultivate a diverse and inclusive culture and we’re pleased to provide all employees whether onsite, remote or hybrid work environment with enhanced benefits, rewards and professional development at the pace of change that meets the unique needs of our employee base.” – Pat Teague, chief human resources officer of USAA.