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Penny Gusner Consumer Analyst

Press Release: Santa’s ‘salary’ puts him into the upper income bracket

Dec. 11, 2018 (Foster City, Calif.) – Insure.com’s annual salary calculation based on recent Bureau of Labor Statistics wage data shows Santa would earn a salary of $152,367. The salary Santa receives, based on his many job responsibilities, confirms his position in the high-income earners bracket in the United States. Santa’s third consecutive year of 2 percent wage growth has been enough to keep up with inflation, so even though his earnings have been increasing steadily, he’s probably too busy paying increased prices for sleigh parts and reindeer feed to notice. Read the whole story: https://www.insure.com/life-insurance/santa-index.html

Thirteen of Kris Kringle’s main job assignments experienced wage growth, but six, including the one where he spends most of his time, overseeing the workshop as head industrial engineer, only increased by 2 percent. That matched the projected inflation rate.

Jobs with 2% wage increase:

  • Industrial engineer                                
  • Labor negotiator         
  • List checker                
  • Snow plow driver
  • Chimney technician
  • Distributor

Santa’s salary puts the Clauses in the upper class, comfortably passing the income bracket which defines the middle class as incomes between $40,500 and $122,000.

“At this point in his career, Santa has high-value assets like an established workshop and workforce, a home and sleigh that I imagine are paid off, and likely a significant amount of farm property at the North Pole,” said Penny Gusner, consumer analyst for Insure.com. “He should certainly have a permanent life insurance in place in case of an accident that leads to an untimely end.”

The Santa Index is an annual Insure.com tradition of taking a light-hearted approach on the impactful topic of life insurance. Thinking about Santa’s income helps to remind us that whether we contribute income or other critical roles in the home, a life insurance policy is part of a valuable plan to protect your loved ones.

“The purpose of life insurance is to help maintain your family’s standard of living in the event that they lose a major contributor. Contribution isn’t always financial; it can be critical caretaking roles throughout a home, as well,” said Gusner. “For example, if Mrs. Claus were to pass, given the way we traditionally view her role, Santa would likely have to hire extra help to manage or maintain the North Pole. It’s important that both partners have a policy that the other can depend on for support.”

Insure.com also surveyed more than 1,700 people to shed light on people’s life policies and what they know about life insurance. Below are the survey highlights:

  • 30% of respondents who don’t have a life insurance policy say they can’t afford one
  • 45% of respondents who have a life insurance policy choose a whole life policy
  • 23% of respondents who have life insurance pay $500-700 annually for the policy
  • 21% of respondents who have a policy chose the company based on its reputation
  • 24% of respondents say their spouse doesn’t have a policy because they believe the primary earner’s policy is sufficient

To see the full chart of Santa wages and survey results, visit the full feature at The 2018 Santa Index.                                                                                                

 

Methodology

The Santa Index is based on a pre-set list of tasks and hours; tasks are then matched to occupations from the Bureau of Labor Statistics to find the average wages.

Consumer opinions are based on an online-panel survey commissioned by Insure.com of 1738 adults. The survey was fielded in November 2018.

About Insure.com

Insure.com provides a comprehensive array of information on auto insurance, home insurance, health insurance, and life insurance. The site offers an extensive library of originally authored insurance articles and decision-making tools that are not available from any other single source, including its Insurance Advisor, a tool designed to help you measure your current assets and understand any holes in coverage (life, health, auto or home insurance) you might have.

Insure.com is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.

Twitter: @InsureCom

Press contact:

Penny Gusner

pgusner@quinstreet.com

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