Voya Financial
Voya Financial Compensation & Benefits in New York
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?
Strengths in retirement depth, family supports, and generous time away are accompanied by challenges around healthcare affordability, pay progression, and incentive mechanics. Together, these dynamics suggest the New York office delivers a robust total rewards package whose value can depend on role, plan selections, and comfort with variable pay.
Key Insight for Candidates
Defining pattern: Voya offers an uncommon retirement combo—401(k) match plus a separate cash‑balance pension. For New York employees, this significantly lifts total rewards and long‑term wealth beyond base pay, making benefits a clear differentiator versus peers that typically provide only a 401(k).Evidence in Action
- 401(k) Plus Pension — The Voya 401(k) Savings Plan and Voya Retirement Plan provide a 401(k) with company matching contributions plus a separate cash‑balance pension. This combination strengthens long‑term total rewards and retirement security for employees in New York.
- Whole‑Family Health Supports — Lyra (EAP) offers up to 10 in‑person sessions, while Maven Clinic, AccessHope, and Wellthy provide family planning, cancer support, and caregiving concierge services. Employees in New York can address mental health and complex family needs without navigating fragmented vendors, improving well‑being and productivity.
Positive Themes About Voya Financial
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Retirement Support: Pay in the New York office is considered bolstered by a retirement package that pairs a company‑matched 401(k) with a separate cash‑balance pension. Feedback suggests this combination stands out among private employers.
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Parental & Family Support: Colleagues in New York point to deep family support, including backup child and elder care and access to fertility, pregnancy, menopause, cancer, and return‑to‑work resources. Feedback suggests these programs make navigating parenting and caregiving materially easier.
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Leave & Time Off Breadth: Employees in New York highlight paid time off, company holidays, a dedicated celebration day, and employer‑sponsored volunteer time that encourages community engagement. Feedback suggests this breadth adds meaningful flexibility and purpose beyond core vacation.
Considerations About Voya Financial
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High Benefits Costs: Employees in New York report that certain medical plan options can feel expensive, with high‑deductible structures and network differences affecting perceived value. Feedback suggests affordability varies by plan choice and location.
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Stagnant Pay & Limited Progression: Pay in the New York office is sometimes described as lagging expectations due to slow raises and uneven advancement in specific job families. Feedback suggests this can temper satisfaction even when overall benefits are strong.
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Weak & Unreliable Incentives: Employees in New York note that metric‑driven bonus programs in customer‑facing roles can lead to inconsistent payouts that feel outside individual control. Feedback suggests this undermines confidence in incentive fairness.
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