Salary Guide
Voya Financial Salaries in New Jersey: Complete Compensation Analysis
Considering a career at Voya Financial in New Jersey? Our comprehensive salary guide provides accurate compensation data across various roles, experience levels, and departments to help you negotiate with confidence and understand your market value. Interview coming up? Check out Job Bridge for real time AI assistance.
Key Salary Insights for Voya Financial
Average Base Salary
$95,000
Across all positions in New Jersey
Salary Range
$55,000 - $160,000
From entry-level to executive positions
Industry Comparison
5% Above
Compared to industry average in New Jersey
Total Compensation
+15%
Average bonus, stock options, and benefits
Location Factor: New Jersey
Working at Voya Financial in New Jersey comes with specific geographical considerations:
- Cost of living index: 110 (U.S. average = 100)
- Average housing cost: $2,200/month for 1-bedroom apartment
- State income tax rate: 5.5%
- Regional salary adjustment factor: 8% higher than national average
- Remote work opportunities: Hybrid
Salary Negotiation Tips for Voya Financial
Based on our research and feedback from successful candidates, here are effective negotiation strategies specific to Voya Financial:
- Highlight investment management expertise that commands premium compensation
- Research indicates Voya Financial typically has 5% flexibility on initial offers
- Negotiating for flexible work schedule may be more successful than base salary increases
- Emphasize successful client onboarding that aligns with company values
- Consider negotiating during peak hiring season which has proven effective
Recent Compensation Trends at Voya Financial
Our analysis shows the following significant trends in Voya Financial's compensation strategy over the past year:
- 7% increase in starting salaries for Data Analyst positions
- New emphasis on wellness programs as part of compensation packages
- Shift towards performance-based bonuses
- Increased investment in competitive salaries and benefits
- Annual compensation reviews to remain competitive in New Jersey
Employee Testimonials
"After 4 years at Voya Financial in New Jersey, I've seen my compensation grow by approximately 8% annually. The company values problem-solving and rewards it consistently through merit-based raises."
- Anonymous, Actuary
"The total compensation at Voya Financial is competitive, but what really stands out is flexible work arrangements. This has added significant value to my overall package, worth approximately $N/A annually."
- Anonymous, Software Engineer
Salary Comparison with Competitors
| Company | Avg. Base Salary | Bonus | Equity | Total |
|---|---|---|---|---|
| Voya Financial | $95,000 | 10% | 5% | $110,000 |
| Prudential Financial | $90,000 | 8% | 3% | $102,000 |
| MetLife | $88,000 | 7% | 4% | $99,000 |
| Lincoln Financial Group | $85,000 | 6% | 2% | $94,000 |
Educational Impact on Salary
Your educational background can significantly influence your earning potential at Voya Financial. Here's how education typically impacts salaries:
Advanced Degree (Ph.D., MBA)
+15% premium
Most valued in: Actuarial, Investment Management
Master's Degree
+8% premium
Most valued in: Technology, Finance
Bachelor's Degree
Base level
Standard requirement for most positions
Industry Certifications
+3% per certification
Most valued: CFA, CFP, Actuarial Exams
Promotion and Raise Cycles
Understanding Voya Financial's promotion and raise cycles can help you time your career moves strategically:
- Annual performance reviews typically conducted in December
- Average annual salary increase: 4% for meeting expectations, 7% for exceeding
- Promotion eligibility typically requires 2 years in current role
- Average salary bump with promotion: 8-15%
- Bonus determinations made in November, paid in January
- Off-cycle raises most common in exceptional performance
Methodology & Data Sources
Our salary data has been meticulously compiled and verified through multiple sources:
- 3,500 verified salary reports from current and former employees (collected January 2024-September 2024)
- Analysis of 700 job postings from Voya Financial in New Jersey (collected January 2024-September 2024)
- Interviews with 15 recruiters specializing in Voya Financial placements
- Data from Bureau of Labor Statistics for New Jersey
- Industry compensation surveys from Glassdoor, Salary.com, and Indeed
- Proprietary JobBridge salary database with 35,000 data points
This data is accurate as of October 2024 and represents a comprehensive view of Voya Financial's compensation structure in New Jersey.
Frequently Asked Questions
About This Salary Data
Our Voya Financial salary data has been meticulously compiled from multiple reliable sources, including:
- 3,500 verified salary reports from current and former employees
- Data from job postings across major job boards
- Information from professional recruiters specializing in Voya Financial placements
- Industry salary surveys and governmental labor statistics
- Anonymous compensation details shared through our proprietary network
This data was last updated on October 25, 2024, making it one of the most current and accurate salary resources available for Voya Financial in New Jersey.
Salary by Department
| Department | Entry Level | Mid Level | Senior Level |
|---|---|---|---|
| Investment Management | $65,000 | $90,000 | $125,000 |
| Retirement Plan Services | $60,000 | $85,000 | $115,000 |
| Insurance Operations | $58,000 | $80,000 | $110,000 |
| Technology | $70,000 | $100,000 | $140,000 |
| Actuarial | $75,000 | $105,000 | $135,000 |
| Finance | $62,000 | $88,000 | $120,000 |
Top-Paying Roles at Voya Financial
Based on our research, these are the highest-paying positions at Voya Financial in New Jersey:
1. Chief Investment Officer
$160,000
Typical requirements: 15+ years experience, proven investment track record
2. VP, Retirement Solutions
$150,000
Typical requirements: 10+ years experience, strong leadership skills
3. Director, Technology
$140,000
Typical requirements: 8+ years experience, expertise in relevant technologies
4. Senior Actuary
$135,000
Typical requirements: 7+ years experience, FSA designation
5. Financial Controller
$125,000
Typical requirements: 5+ years experience, CPA designation
How Voya Financial Salaries Compare to Market
Total Compensation Analysis
At Voya Financial, base salary is just one component of the total compensation package. Here's what you can expect in terms of additional benefits and compensation:
Bonuses
5-15%
Annual performance bonus (% of base salary)
Equity
2-8%
Stock options/RSUs (% of annual compensation)
401(k) Match
Up to 4%
Employer match for retirement contributions
Healthcare Value
$11,000/year
Estimated value of medical, dental, vision coverage
Additional benefits at Voya Financial include:
Salary by Experience Level
Years of experience significantly impact your earning potential at Voya Financial. Here's how salaries typically progress based on experience:
Salary Progression by Years of Experience
Compensation Research Team
JobBridge Salary Experts
Last updated: October 26, 2024 • Data accuracy verified by our research team