USAA Employees to receive 13.5% bonus (real estate, rent, home)

[Revolver]

USAA already has replacement classes lined up for the annual exodus that occurs in policy service after the bonuses are distributed.

Happy for the employees. Don't spend, be responsible and save or pay debt that was already incurred from previously stimulating the economy.

My dissertation is on how a dollar bill can only be manipulated in so many ways before the gig is up. I called this two years ago, and forecasted a complete meltdown of stocks by 2013. Too bad it's accurate.

[banker]

It is normal in any industry/business for there to be an exodus after bonuses are paid - but in this economy I doubt we will see such a massive exodus (unless forced by the company through layoffs.)

As to the question where do all these people work...well I work for a major bank and have been in the banking industry for the last 12 years. My bonuses have ranged between 5% and 20% for my entire career. This year it was a combination of stock and cash. Lots of large companies pay bonuses but the feeling this year at my bank was that we should enjoy our large bonuses because 2009 will not be nearly as kind. I suspect the same will be true for many companies.

[henry189]

What were USAA’s fourth quarter results? From 3rd quarter reports, net income fell 76.02% ($105.3 million to $25.2 million). What is the formula makeup for bonus payouts, because it’s a great bonus when it seems operating efficiency needs improvement based on the bottom line. USAA is promoting perception not results.

[banker]

But if the company made money - what better way to handle it than to share it with the employees. Operating efficiency is a mangement issue - not an employee issue (for the most part). I applaud USAA for sharing in the wealth. In addition, the best way to both help people prepare for lean times and stimulate the economy so that the lean times areas short as possible is to get the cash out to the people that will spend it!!

[V3rtigo]

Originally Posted by henry189

What were USAA’s fourth quarter results? From 3rd quarter reports, net income fell 76.02% ($105.3 million to $25.2 million). What is the formula makeup for bonus payouts, because it’s a great bonus when it seems operating efficiency needs improvement based on the bottom line. USAA is promoting perception not results.

10% is budgeted into everyone's salary, they just don't realize it. they got a 3.5% raise, which is in line with the company's prospects at the moment.

as for the exodus to whoever suggested that, yes it will happen. several people I know have given notice. the economy is never bad if you're good at your job.

[sapphire]

Originally Posted by V3rtigo

as for the exodus to whoever suggested that, yes it will happen. several people I know have given notice. the economy is never bad if you're good at your job.

I wholeheartedly and respectfully disagree with that statement. That is simply not true. And no, I haven't lost my job, nor has anyone really close to me...........yet. This economy is horrible, so for you to make that blanket statement is actually pretty naive on your part.

[perticusrex]

Originally Posted by sapphire

I wholeheartedly and respectfully disagree with that statement. That is simply not true. And no, I haven't lost my job, nor has anyone really close to me...........yet. This economy is horrible, so for you to make that blanket statement is actually pretty naive on your part.

I would have to second your statement. I, personally know people who are EXPERTS at their field of expertise who have been laid off many times over, with several different companies. Most people, no matter how successful they are at their career, are ever really immune to a bad economy and layoffs. I can only think of a handful of fields that are not suseptible to a bad market.

[banker]

Originally Posted by perticusrex

I would have to second your statement. I, personally know people who are EXPERTS at their field of expertise who have been laid off many times over, with several different companies. Most people, no matter how successful they are at their career, are ever really immune to a bad economy and layoffs. I can only think of a handful of fields that are not suseptible to a bad market.

I'll go ahead and third that statement (is there such a thing as being third) anyway, the economy is horrible right now. Being on the commercial side of the banking industry I can assure you that there are many very qualified "experts" that are struggling to find a job and if they do - to keep their existing salary.

And I fear things are only going to get worse.

[firstclassflyer]

Originally Posted by banker

I'll go ahead and third that statement (is there such a thing as being third) anyway, the economy is horrible right now. Being on the commercial side of the banking industry I can assure you that there are many very qualified "experts" that are struggling to find a job and if they do - to keep their existing salary.

And I fear things are only going to get worse.

Banker, do you have something lined up just in case? Always good to have multiple income streams.
Home Depot isn't even hiring anymore.

[mariagoodliving]

I have been a member of USAA since 1999 previous US-military member and ex-employee of USAA in the Insurance sector. What I do know is that USAA has had impeccable superb customer service and my ex-husband was laid-off back in 2001 (summer time June July) he had been with the company for 17 years in the mail-services and later providing Information Technology services and he got hit quickly; he was darn lucky that one of his co-workers vouched for him when closing lender did verify that he was still employed when he was technically laid-off; I have known for USAA to always take care of its employees and this is great. I now in 2009 have to resort to just getting basic liability elsewhere and waiting for my insurance to be cancelled from USSA for my vehicles since i have paycut in a job that I have taken-and cant afford the premiums. All I have to say to USAA employees enjoy employment and any future bonuses-I can anticipate just anything in our tough economy-back in 1999 I was offered 9.89 per hour for customer service call center type job-dont know what USAA is paying their employees.