Thread regarding AIG (American Intl Group Inc.) layoffs

Who said " STI is an almost guaranteed part of your income" ? - whoever said this is either ignorant or is lying. If you go to a bank, they don't consider it as a part of your income while determining limit for mortgage.

Who said STI is low? Certain higher grade levels have STI in multiples of their salaries. STIs have these ranges set by Comp committees, who have lee way to provide exceptions.

Company has been chiseling money away from workers. Some blatent - no rsises- ti behibd scenrs like actually lowering salary ranges so most of target grade will be above cap. Over last 10 years so much nickel and diming went on that overall SO much worse. Bod and mgmt are in bed. Co shouldve gone into receivership in 2008. So much expense abuse still going on at top levels. Just lay everyone off and say oh look we've cut salary expense 100% id--ts. What happens when theres no more room for layoffs? The constant reorgs and the moves that follow just ruins the entire work experience for whoevers left.

i wouldn't say it is crumbs. My STI started at 12.5 when i joined AIG and ended at 40k when i left. I was still on the low end and knew people who had much more.

If your STI is crumbs its because you are probably a bad employee that no one cares about.

That out of the way, i disagree. STI was always treated as an almost guaranteed part of your comp, and it was illustrated as such in your total comp page in workday.

Odd how people in insurance complain about literal interpretation of stuff

Before STI, we had raises. We went to STI to be incentive based, which is fine. They got rid or raises in exchange for STI. However, the raises were to be based on employee performance, not cat loss exposures (which are re-insured anyway). So the stink is in the air is STI's will take a hit based on market performance that employees had nothing to do with. So, what about the raises that they would have paid without STI's?

The STI's were really just adjusting the pay into what a position would pay at other companies since AIG essentially stopped raises. It's not a "bonus" at all. If it were, AIG would have significantly higher overall pay than the other major carriers, which we know they do not. People are figuring this out and obtaining talented new hires willing to play this game ended when unemployment went to 3%.

Does seem disingenuous doesn't it?

Wonder why that was said to employees*?

*while eliminating any col increase and gaming STI vs. "base" for worker bees to keep them above the minimum comp for the grade...

Other companies also have raises along with STI. AIG doesn't have raises.

The AIG STI is just low. That’s the real problem. Even when fully funded it’s crumbs.