Usaa salaries appear to have become below current market even compared to a year ago. As a lead now if I left and came back to same title lot less pay. Whassup with that?
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A big part of this esp in IT is 3rd party contractors from India for whom what we call an underpaying salary is more money than they've ever seen offered for their skills. The best and brightest from India can be had at a good discount b/c India's socialist gov't makes going into business or expanding very difficult esp. with the bureaucracy and corruption that naturally comes w/ a socialist economy. Business interests in the US love this state of affairs b/c it means cheaper labor costs. Consequently we'll be seeing more and more outsourcing to India and Indian employees and contractors at USAA, even more than we already have. Naturally expect layoffs of native-born American employees who have the temerity to want to be paid enough money to have a decent std of living here in SA. These ppl will be replaced by Indian and other offshore (or onshore) people. This isn't about race/ethnicity or jingoistic nationalism, it's abt 1st world standards vs. 2nd world standards of living here in the US. This is happening all over American business, esp. in IT. Companies not known for offshoring are now doing just that (eg: Google is now offshoring to India and China). Americans with 1st world living std expectations will going fwd be disappointed.
@cyq+1u1ZS2A4
USAA did offer an overall package that was slightly above the norm in San Antonio a few years back, but that is not the normal today. San Antonio offers a competitive wage for the banking and mortgage industry, which is matched by the lower cost of living. If you compare California, Florida or New York to Texas, then the Lone Star State wins hands down for price per square footage and quality of life. USAA is not a worthy competitor.
Isn’t San Antonio a low paying city. USAA is headquartered here so one would think the pay would automatically be lower if you consider the bonus compared to competitors that are headquartered elsewhere or have multiple offices throughout the USAA. If there are other companies here paying more, please share!
“Once the regulatory door is opened......it never closes.” This is exactly right! I don’t think banks get this. They think they’re alright, let go of people, then those people come back as contractors making more money after the bank already paid an additional fine.
USAA was never a pay leader. It has been a benefits leader for a long time and even that is changing as many of you know (or maybe has already changed). When I left there, although I was making six figures, I was underpaid (per my experience, qualifications, and the market) about $30k. I was recruited into a competitor paying accordingly, so I left.
USAA is also pulling whenever a position needs to be backfilled hire lower level employees instead. It's def working since EMG is coming in at higher salaries and their bonuses are affording them their outdoor saunas. (you know who you are)
USAA made an announcement about 1.5 years ago that they had over invested in their employees, laid off thousands and opened new job announcements for the same skill sets for less pay. Class act move (ha!), especially for those recruited from other companies, just to be let go after USAA ignored crucial feedback regarding well-established and tested compliance and IT guidelines. USAA then had their third-party vendors try to recruit the laid off workers to comeback as contract workers. (Wow, just wow!) And now, upper management is scratching their heads about consent orders coming down the pipes. Once the regulatory door is opened......it never closes.