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Santa’s Salary Increases 5% to $170,583, Insure.com Finds
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Insure.com (Ticker: ICOM) reports that Santa Claus' hypothetical salary increased by 5% in 2023, earning $170,583 this year. The annual wage analysis shows a significant jump in Santa's earnings, though it falls short of the 6% increase in 2021. Insure.com emphasizes the importance of a robust life insurance policy for Santa to protect his dependents.
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Annual look at St. Nick’s paycheck sees his wages increase again this year
FOSTER CITY, Calif.--(BUSINESS WIRE)--
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.
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.
founded in 1999, and with its initial public offering in 2010, quinstreet, inc. is the leader in performance marketing technologies & services, consistently delivering the right leads at the right volume to thousands of industry-leading clients and business brands. the company’s full-service approach combines direct marketing expertise, vast search and media reach, and industry-leading technologies to deliver dramatically improved results for clients. quinstreet is headquartered in foster city, ca, with satellite offices worldwide.
