Saluting a star

San Antonio business marches onto Fortune’s list of most admired companies in the world

San Antonio biz marches onto Fortune’s list of most admired companies

USAA bank
USAA makes Fortune's list of the world's most admired companies. USAA/Facebook

National business publication Fortune magazine is saluting one of San Antonio’s best-known employers.

Financial services provider USAA ranks 25th on Fortunes 2022 list of the world’s most admired companies. The ranking is based on the magazine’s poll of about 3,700 corporate executives, corporate directors, and business analysts. 

USAA is the No. 1 Texas-based company on the list and the only San Antonio company in the ranking. USAA employs about 1,500 people in Alamo City.

The company does plenty to draw admiration. For instance, in October, USAA raised the minimum hourly pay for its employees from $16 to $21.

“USAA’s employees are the heart of our association, and providing a competitive pay and benefits package is one way we reward them for providing exceptional service to military members and their families,” Wayne Peacock, president and CEO of USAA, said in a news release announcing the pay raise. “Increasing our minimum pay and enhancing our already comprehensive benefits package helps ensure we’re being responsive to our employees’ needs and dynamically changing market conditions.”

Another example: USAA gives back to communities around the country. For instance, the company and its charitable foundation in 2020 committed $87 million to support pandemic relief, racial equity, and other pressing needs. Also in 2020, USAA made a three-year, $50 million commitment to helping close opportunity gaps in education, job training, employment, and income.

“Serving USAA members with exceptional service and commitment today, tomorrow, and long into our second century is a legacy we are determined and proud to carry forward,” Peacock says.

USAA is among 18 Texas-based companies appearing on Fortune’s new list of the world’s most admired companies. The others are:

  • Dallas-based Southwest Airlines, No. 28.
  • Westlake-based Charles Schwab, No. 47.
  • Dallas-based AECOM, No. 55.
  • Dallas-based AT&T, No. 77.
  • Dallas-based CBRE Group, No. 103.
  • Houston-based ConocoPhillips, No. 117.
  • Round Rock-based Dell Technologies, No. 125.
  • Houston-based EOG Resources, No. 140.
  • Spring-based Hewlett Packard Enterprise, No. 164.
  • Arlington-based D.R. Horton, No. 168.
  • Dallas-based Jacobs Engineering Group, No. 179.
  • Houston-based KBR, No. 186.
  • Irving-based McKesson, No. 214.
  • Houston-based Occidental Petroleum, No. 237.
  • Houston-based Quanta Services, No. 253.
  • Austin-based Tesla, No. 294.
  • Houston-based Waste Management, No. 318.