Santa’s Salary Increases 5% to $170,583, Insure.com Finds
December 20 2023 - 10:00AM
Business Wire
Annual look at St. Nick’s paycheck sees his wages increase again
this year
Insure.com, in its annual look at what St. Nick hypothetically
makes based on a wage analysis of the tasks he performs, finds
Santa’s salary increased 5% this year.
Find the article here: The Santa Index 2023: St. Nick’s salary
increases by 5% from 2022.
Each year, the editors at Insure.com, an online resource
dedicated to helping consumers better understand insurance, create
an estimated salary for Santa. It’s based on wage data from the
Bureau of Labor Statistics for the number of hours Old Nick would
likely spend on various tasks such as:
- Running a workshop
- Reading letters
- Investigating (naughty or nice)
- Wrapping gifts
Research shows that Santa’s duties earned him $170,583 this
year. The jump in salary more than doubled last year’s increase,
though it trails the 6% wage increase he saw in 2021.
“Santa, like many other U.S. wage earners, makes more than six
figures – income that would be difficult to replace if the
unthinkable happens,” says Nupur Gambhir, Insure.com’s managing
editor and a licensed life insurance agent. “In order to protect
his dependents and secure their financial well-being, Santa needs
to have a robust life insurance policy in place. Coverage should
equal at least 10 to 15 times his income so that his dependents are
adequately protected.”
Insure.com’s Santa Index, in addition to looking at Santa’s
salary, includes what to consider in a life insurance policy and
how to buy coverage that meets everyone’s needs.
Gambhir is available to discuss the Santa Index and the best
life insurance options for individuals in various
circumstances.
About Insure.com
For 35 years, Insure.com has served as a comprehensive consumer
resource for insurance information, offering expert advice,
articles, news, and tools about car, home, health, and life
insurance. Consumers can access free car insurance quotes and
guidance on finding the right insurance policy, saving money and
solving claims problems.
Insure.com is owned and operated by QuinStreet, Inc. (Nasdaq:
QNST), a pioneer in delivering online marketplace solutions to
match searchers with brands in digital media. QuinStreet is
committed to providing consumers and businesses with the
information and tools to research, find and select the products and
brands that meet their needs. Insure.com is a member of the
company’s expert research and publishing division.
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version on businesswire.com: https://www.businesswire.com/news/home/20231220882759/en/
John McCormick Editorial Director jmccormick@quinstreet.com
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