I want to see what everyone’s bonus is like. Am I getting gipped? I’m an UW and my bonus is 10% of my salary. I hear some people are getting 30% and even more. If you make a $100k, you’re getting 30k in pre-tax bonus?
Without revealing who you are, can you mention how much you make and your bonus? Or just your bonus. Because if people are getting very good bonus’s, I need to go and fight for a better one.
An Adjuster, only get about 6-7% of my annual pay.
To the post directly below - exactly. The irony is that this will be all that’s left come STI time…I bet most of Retail UW gets moved to Accenture.
To the rainmaker bringing in an extra $2M, maybe if you work really hard, PZ will invite you over to his house and you can mow his lawn…
Lol at the person who brought in $2M in new business....AIG runs at like a 103% combined ratio, so basically you lost the company $60k
Mine 6.1 k since 2015, I got increase in base salary not in bonus. Job grade 18, claims
Since PZ got 23 million this year I'm not sure how much is lefr
Mine is 100% of my base plus I get a six figure income. I am friends with PZ. Sucks to be you.
21% of my base.
I’ve been here for 6 years and brought in tons of new business every year. Let me tell you this as an example.. I brought in 2 million in new business in 2020, and during my review they could not give me a promotion or give me better than a 2% raise/ or increase my bonus. I brought 2 million in NEW business (let’s not forget I bring in all my renewal premiums as well), and you’re telling me I can’t get a better bonus? A promotion? A really good raise? My bonus is 6 grand… 6 grand pre-tax! That’s .003% of the money i brought in new business alone.. let that sink in. Is it that hard to give me idk maybe 2% of the 2 million as a “hey we value you thanks!”
So this year, I didn’t even bother with new business and i bet I’ll get the same result. DO not over achieve it’s not worth it I promise. As an underwriter, focus on your renewals because you will not be rewarded for the extra work it takes to bring in New business.
If you accomplished a lot relative to your peers, then make the case in your review and use that as a point to advocate from.
If you think you deserve a bigger bonus and justify based on “equity” or some other basis, note AIG does a lot of virtue signaling about it but doesn’t really mean it, because pay ranges for folks who do same job are huge, especially for those new to aIG. Guarantee newbies make more, sometimes a lot more, than those who have tenure. So the ones who have the most knowledge and experience are in many cases at the bottom of the comp payramid.
I was surprised to see how secretive comp is at AIG/Corebridge. Many other insurers are very forthcoming with pay ranges for job families across all of the grade levels and locations, , showing salary ranges, STI targets and LTI targets for anyone internally to see.
Pro Tip:
If you stay past this STI cycle, you deserve whatever they are giving you
I just left the company. I couldn't tell you.
My Sti is 25% of my total compensation.
I received multiple promotions through the years and never got an increase in STI my last promotion a few years ago my STI was about 5% of my income. Left the company early in 2022 pay raise of 20% and bonus nearly tripled the percentage of new income. Also did not lose any PTO or benefits all and all the best suggestion is to leave unless you are a subpar employee then you should stay at AIG/corebridge then.
It depends on your job grade. Lower job grades have a much lower sti percentage. Every job grade jump roughly doubles your sti target in most cases and increases your percentage of annual income from the bonus. It is how AIG messes with people they want to get rid of. When your sti target is 30% or 40% of your annual income and you get a bogus review you become very disgruntled. If there are senior people in your department their target probably is much higher than yours. You don't get to fight for more sti. Now days these numbers pretty much feed down to your manager. Take it or leave it. Your manager may be a able to finagle a percent or two to employees they like, but it is not a big variance. Unless you get promoted your sti target probably isn't going to change. You don't like, go work for a better company.