CFA noted, however, that the data reported to the department may exclude compensation paid by affiliated companies, so it’s possible that the figures above are underrepresented. The list is split evenly between the CEOs whose pay increased and those whose compensation dropped. For the latter group, most executives experienced just marginal decreases in earnings. Data gathered by the Consumer Federation of America (CFA) reveals that the CEOs of the 10 largest personal lines insurance companies earned a combined $130.6 million in compensation in the latest financial year. Insurance Business crunches the numbers from the previous financial years to give you an idea of how much the top insurance CEOs earn in salaries and other compensation. We will also make a side-by-side comparison to find out where their earnings rank among their industry peers.

How much does a Nationwide Insurance employee make on an average/hour in the United States?

Over the past 90 years, focusing on customers and valuing people have helped Nationwide become one of the largest insurance and financial services companies in the world. Nationwide Mutual Insurance Company and affiliated companies is a group of large US insurance and financial services companies based in Columbus, OH. What is your opinion about the salary and compensation of CEOs in the insurance industry? You can also keep abreast of the latest industry developments, including senior leadership movements and salaries, by subscribing to our free newsletters. By signing up, you will be up to date with the latest breaking news, cutting-edge opinion, and expert analysis impacting the industry.

I work hard at my job and i get immersed into what I do and I need that vacation time to reset my mind and balance me out l. Progessive’s Griffith suffered the biggest pay cut at around $1.8 million. Although his earnings dipped slightly, State Farm CEO Tipsord earned the biggest paycheck among all executives in the list.

• Their earnings, however, are between 270 and 380 times higher than those of their companies’ average employees.
• The data presented on this page does not represent the view of Nationwide and its employees or that of Zippia.
• Fellows employed by Nationwide Children’s Hospital have the same short term disability benefits available to other Nationwide Children’s employees.

Nationwide office locations

The data presented on this page does not represent the view of Nationwide and its employees or that of Zippia. There’s a little bit more parity in the pay of the CEOs of the top health insurance companies in the US. The figures above show that the salaries and compensation of the top four executives are separated by a few hundred thousand dollars. Their earnings, however, are between 270 and 380 times higher than those of their companies’ average employees. Just like regular employees, the chief executives of insurance companies get an annual salary. They are also entitled to employee benefits such as paid vacations and group insurance.

Life in Columbus

Average salaries at Nationwide competitors, like AIG, The Travelers Companies, and Genworth, vary. AIG employees earn the highest salaries, with an average yearly salary of $84,115. The average salary at The Travelers nationwide salaries Companies is $66,351 per year, and the average salary at Genworth is $61,793 per year. AIG’s Peter Zaffino has the highest compensation among all insurance CEOs on the list, earning 894 times more compared to that of the firm’s average employee. Hagerty of his family’s eponymous company and Chubb’s Greenburg round up the top three.

Nationwide Insurance Salaries by Location

• “These massive salaries and bonuses came during a time when auto insurance rates rose, and the insurance companies claimed they had to raise rates in order to cover increasing costs.
• The list is split evenly between the CEOs whose pay increased and those whose compensation dropped.
• For the latter group, most executives experienced just marginal decreases in earnings.
• The CEOs of the six largest health insurance companies in the US earned a combined $114.5 million in salaries and other compensation in 2022.
• Data gathered by the Consumer Federation of America (CFA) reveals that the CEOs of the 10 largest personal lines insurance companies earned a combined $130.6 million in compensation in the latest financial year.

The SEC requires all publicly traded companies, including insurers, to disclose how much they pay their senior executives, how they determine the overall compensation, and who helped set the total package. This means you can get information on insurance CEO salaries through public filings with the SEC. “These massive salaries and bonuses came during a time when auto insurance rates rose, and the insurance companies claimed they had to raise rates in order to cover increasing costs. The CEOs of the six largest health insurance companies in the US earned a combined $114.5 million in salaries and other compensation in 2022. This is according to the Securities and Exchange Commission (SEC) proxy filings obtained by the industry news outlet Fierce Healthcare. Fellows employed by Nationwide Children’s Hospital have the same short term disability benefits available to other Nationwide Children’s employees.

However, CEO compensation is more complicated and involves a range of other factors that go beyond just their reported salaries and benefits. The table below from the consumer advocacy and education non-profit breaks down the total pay of the chief executives of these companies in the last two financial years. The department legally requires insurers to provide information about the salaries, bonuses, and other compensation of their top officials. Nationwide salaries in the engineering department are the highest with an average salary of $91,472. Employees in the it department at Nationwide receive relatively high salaries as well, with an average salary of $84,867 per year. Departments that don’t pay as well at Nationwide include the customer service and the administrative organizational functions, with employees earning average salaries of $34,727 and $39,375, respectively.

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Children’s has an on-site child care facility that is available to all employees. Search for all salaries on our compensation page or add your salary to help unlock the page. We’ve negotiated thousands of offers and regularly achieve $30K+ (sometimes $300K+) increases. Get your salary negotiated or your resume reviewed by the real experts – recruiters who do it daily. DeLong adds that the situation has reinforced the public’s negative perception of high insurance CEO salaries. On the flipside, Liberty Mutual’s Long and USAA’s Peacock received the highest pay raise at $3.2 million and $2.9 million, respectively.

“CEO salaries are extremely high, often in the millions or tens of millions of dollars, and they are unconnected to performance,” he says. “At the same time, many Americans are living paycheck to paycheck and struggling to afford their insurance premiums. Nationwide Insurance employees earn $46,000 annually on average, or $22 per hour. If I needed to come in late I could flex my schedule to stay late and vise versa. I also loved all the vacation time that was given and they even had extra days beyond normal vacation days for emergent situations.

The highest paying jobs at Nationwide are consultant-application development, lead technician, senior software engineer, and systems administrator. Consultant-application development jobs at Nationwide earn an average yearly salary of $110,599, Nationwide lead technician jobs average $109,347, and Nationwide senior software engineer jobs average $102,613. Insurance companies provide CEOs with severance pay in the event of voluntary or involuntary termination. Most insurance CEOs earn substantial base salaries, which depend on a range of factors, including job performance and years of experience.

Average Nationwide salary by state

Gain a deeper understanding of the numbers behind insurance CEO salary and compensation in this guide. Trainees who desire short term disability coverage for the first 6 months of employment, can seek interim disability insurance to cover this period. Fellows are not required to purchase interim disability and if choosing to purchase coverage, they are not obligated to use any specific insurance provider. The GME office can share the names of some companies that offer plans, if helpful. Short-term incentives are typically given as cash rewards, while long-term incentives are often structured as stock-based compensation. CEOs usually receive compensation for long-term incentives at the end of their stated performance periods.

The group’s list also doesn’t include insurance CEO salary and compensation for the country’s top multiline insurers and health insurance specialists, some of which are substantially higher than those in the table. Nationwide is ranked #50 on the Best companies to work for in Ohio list. Zippia’s Best Places to Work lists provide unbiased, data-based evaluations of companies. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. If you’re wondering how much the industry’s top executives make and whether they’re deserving of the pay, you’ve come to the right place.