Voya Financial
Voya Financial Compensation & Benefits
This page summarizes recurring themes identified from responses generated by popular LLMs to common candidate questions about Voya Financial and has not been reviewed or approved by Voya Financial.
How are the compensation & benefits at Voya Financial?
Benefits breadth—especially retirement, wellbeing programs, and time-off provisions—appears to be a consistent strength, while base pay satisfaction varies notably by role and level. At the same time, concerns about below-market pay in certain functions, uneven healthcare value, and hard-to-earn incentives temper overall total-rewards sentiment.
Key Insight for Candidates
Tradeoff: Voya’s total rewards hinge on unusually strong benefits—most notably a 401(k) match plus a pension and generous PTO/volunteer time—while base‑salary growth and bonus mechanics can feel conservative and opaque. Great if you prioritize retirement security and breadth of perks; less satisfying if you’re salary‑driven.Evidence in Action
- 401(k) + Pension Focus — The 401(k) match up to 6% and a cash-balance pension, integrated via the Workplace Savings Solution, anchor total rewards. This boosts lifetime earnings security and can offset base-pay variability, improving retention and perceived fairness for retirement‑minded employees.
- 40-Hour Volunteer Time — The 40 hours of annual volunteer time off is a standing benefit alongside paid time off and a Diversity Celebration Day. This rewards community engagement and work-life balance, giving employees predictable paid time to contribute to causes without sacrificing income or vacation.
Positive Themes About Voya Financial
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Retirement Support: Retirement offerings include a 401(k) plan alongside pension savings plans and financial wellness resources aimed at budgeting, insurance protection, and retirement planning. This retirement stack is positioned as a differentiator within the overall Total Rewards approach.
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Wellbeing & Lifestyle Benefits: Well-being support spans an EAP, behavioral health family support, chronic-condition programs, cancer support, and caregiving assistance. These programs extend beyond core medical coverage into ongoing lifestyle and mental-health support.
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Leave & Time Off Breadth: Time-off benefits include paid time off, company holidays, parental leave, and dedicated volunteer time each year. The package also includes medical leave and disability-related supports that broaden time-away coverage.
Considerations About Voya Financial
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Stagnant Pay & Limited Progression: Base pay is described as below average in certain roles, with statements that pay could be higher for the work expected. Raises are characterized as difficult to obtain in some cases, which can constrain perceived progression.
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Weak Healthcare Coverage: Healthcare is sometimes characterized as not very good in certain contexts despite the broad menu of programs. This suggests uneven perceived value of medical coverage relative to other parts of the benefits package.
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Weak & Unreliable Incentives: Bonus attainment is described as metric-driven and difficult to achieve fully, with outcomes influenced by performance assessment mechanics. This can reduce confidence in variable pay delivering consistently.
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