https://www.expressnews.com/business/article/usaa-ceo-pay-raise-executives-insurance-18708115.php
20 replies (most recent on top)
Seems like Wayne and Amala are the biggest winner in the salary bump...
I got lucky with 3% raise this year( still below market and peers)
What did these failed fu-s achieved that earned them their exorbitant pay raises?
People. Context. Whether you like him or hate him....
- CEO at Allstate made $15M last year - https://www1.salary.com/ALLSTATE-CORP-Executive-Salaries.html
- Tricia Griffith, president and CEO of Progressive Corp., was paid the equivalent of $12.75 million in 2022 - https://www.crainscleveland.com/finance/heres-how-much-progressive-ceo-tricia-griffith-made-2022
- CEO at JP Morgan made $36M in 2023 - https://www.businessinsider.com/how-much-is-jamie-dimon-jpmorgan-chase-ceo-paid-2024-1?op=1
- CEO at US Bank made $19.2M in 2023 - https://www.bizjournals.com/twincities/news/2024/03/06/us-bank-ceo-andy-cecere-2023-pay.html
- CEO at 5th/3rd made $9.3M in 2023 - https://www.bizjournals.com/cincinnati/news/2024/02/22/fifth-third-ceo-spence-pay-increased-15-last-year.html
This excessive pay explains why the SVP and EC people would rather shove problems under the rug than address them face on. If this were a publicly traded company, there would be a higher chance of greater accountability. $2.3M for the chief security officer at this institution? Give me a break.......
Honestly, it's just an expression of frustration due to the worst leader I have ever experienced in 30+ years of IT work. I've worked for the greats, and PeaCock is NOT one of them! He is the worst!
@swa+1rreKGUO This comment is just shameful. I hate WP as much as the next person, but wishing something like this on someone says a lot about you as a person.
It will be a glorious day when Wayne leaves the company, but he doesn't deserve this. That is so far beyond what is reasonable it's not even funny. And the fact that this has positive upvotes is also really concerning.
If this company is taking such a toll on your mental health that you think the CEO deserves something like this, you need to take a step back and reevaluate things.
I cannot stand the state of USAA under Wayne's pi-s-poor leadership, but he doesn't deserve something like this. That is just beyond the pale.
It's good to be king
And here I am stressing over losing my job because I missed a few days in office...
We are not the same as them for sure! I cringe everytime I hear an Exec say we are like family! ........a dysfunctional, unbalanced family.
68% increase?!???? I got 3% (which didn’t cover the inflation rate)..
"Helping ... Wayne ... Succeed"
"Healthy Challenge... only down"
"Accountability... blameshift with RTO"
"Innovation... in my wallet"
It’s a giant FU to the commoners like us. You cannot run the company in deficits when interest rate risk is unmanageable (at least by the ones who are hired to manage ALM), and send millions to EMGs who failed to meet performance goals. This once again calls for the whole house clean up of the Board. If you are a member, please vote in the next all-member meeting.
Wow! More work, less resources and less money for the commoners like myself….And, oh BTW, sorry we could only give you 93% of your bonus because the Dashboard that no one understands and you can’t control said so …oh yea, and here’s your new cr-ppy health care provider Cigna that will decline most of your medical claims and when you’re lucky enough to have them processed good luck getting your HSA money with VIA…meanwhile Wayne and his crew are all living large with their packages… disgusting
WP can die in a fire
LOL damn no wonder USAA is suffering losses the last 2 years they dont care, they are getting theirs.
CEO and senior executive pay at USAA is disgusting. These people lie to our faces in employee meetings while taking the company for all that it is worth.
WOW! Happy to know my being laid off that my “little” $135K salary is going to good use.
The post about SpringFest was strategically rolled out today to buy positive sentiment from employees. Corp Comms knew that the article was going to happen this afternoon hence they rolled out SpringFest news today to frontrun this news. I bet the entire cost of SpringFest is smaller than the raise that WP received.
That’s only half the picture. The Bank pays them as much, if not more.
WOW…. The board must love WP… he’s executing their vision and they are paying him (and others) crazy money to cut jobs and benefits.
President and CEO Wayne Peacock getting a 68% increase, $8.1 million from five USAA insurance companies in 2023, up from $4.8 million in 2022.
Randy Termeer, president of USAA Property and Casualty Insurance Group, $2.2 million last year, up from $1.6 million in 2022.
Chief Security Officer and Senior Vice President Jason Witty received $2.3 million, up from $2 million.
Brandon Carter, president of USAA Life Insurance Co., $1.9 million from $1.8 million.
Chief Financial Officer Jeff Wallace received $1.9 million, up from $423,066.
Chief Risk Officer and Executive Vice President Neeraj Singh received $1.8 million from $1.4 million.
Amala Duggirala, chief information officer and executive vice president, received $2.4 million, from $1.3 million.