Thread regarding AIG (American Intl Group Inc.) layoffs

2023 STI/bonus?

Any word on this year’s STI date? Sometimes it’s Jan, Feb, or March. And any word on how full the amounts will be?

Even setting aside upper management’s desire to fill their own pockets (expecting a lot of that comment lol), the stock has been performing better this year than in years past. I wonder whether better financial position will mean fuller, or even additional, STI/bonus?

Thoughts? Anybody with an inside scoop?

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| 3836 views | | 20 replies (last February 2)
Post ID: @OP+1q1e07PZ

20 replies (most recent on top)

We used to get an email stating the match percentage for bonus based on company performance for the year…what happened to that … any ideas what is going on…

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Post ID: @Rryz+1q1e07PZ

STI WIll be paid Feb 29 for most locations including U.S.

The process for management to decide who gets what kicked off Friday and goes up the various management levels all the way to the 3rd week in Feb so no one knows now what they will get but expect it to be aligned with your rating. If you got a meets, then expect somewhere around 100%. If you partially met, expect less than 100%.

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Post ID: @Onzz+1q1e07PZ

I was told by my manager that bonus payouts (at least STI) will be the last week of February.

I overheard that LTI might have already gone out - but I’m too level to be affected by that so can’t verify.

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Post ID: @Nnlj+1q1e07PZ

I received a fully met. Still not positive of bonus, but a couple of my colleagues also got fully met and are receiving full bonuses.

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Post ID: @Nedx+1q1e07PZ

Perhaps PZ should look at all the locales of his offsites - such expensive places that require the international participants to take multiple flights and then black cars to the luxury hotels. Also the super high prices consultants that provide little value other than to pretend our work is their work….

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Post ID: @Ehbc+1q1e07PZ

Hearing that the expense ratio is going to be a major factor in STI and pay rises this year. It’s not coming down and far higher than AIG’s peers and there is pressure on PZ by shareholders to get it down.

Rumours are that more vacation will be given for 2024 rather than pay rises and the additional vacation days for 2023 will be used to justify poor pay rises

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Post ID: @Bcga+1q1e07PZ

Ha! Equating the company’s performance to the bonus pool… not unless you are PZ or one of his direct reports.

Bracing for an average to poor bonus pool

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Post ID: @wnkd+1q1e07PZ

Has anybody here received their year end review yet? Any word on how bonuses are looking this year?

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Post ID: @uirt+1q1e07PZ

I don't know where all these rumors of more attendance equal more bonus come from, I never heard of that. However in our branch WFH policy is very strict we have only two days a week

Peter said our results were great so I expect full Bonus and something more, like I get every year. Aside from STI, in our branch we get also a bonus strictly related to the overall performance of the branch, and because it was good, I expect a good bonus too. I'm not particularly worried about layoffs either at the Moment, they already cutted everything they could and my feeling is that with premium rates rising they'll start hiring again (I'm seeing more and more new positions opening)

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Post ID: @fjps+1q1e07PZ

Just like last year managers have been asked to mark Not Met status to employees so that they can be chucked out without my bonus and raise. Even good ones can be sla-ghtered. What a sh---y deal for employees. If your manager mark you as incapable still leave the company

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Post ID: @bqwf+1q1e07PZ

Can’t wait for the lawsuits. A couple with other companies over similar issues went against the companies, especially when no criteria was established first of the year, many exceptions grandfathered in. I know of several teams in shared services where most if not all the people are remote.
I will make my popcorn and watch the fireworks.

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Post ID: @7gef+1q1e07PZ

If you've been strongly encouraged on attendance your manager or their manager has been advised of potential consequences for people who don't come to the office.

Believe it or not they are trying to help you protect yourself because they will be powerless and don't want to be put in that position.

They may exist but I don't know a single manager who wants to see consequences from attendance over performance much less be forced to apply them.

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Post ID: @5oct+1q1e07PZ

Look on the HR site for your country.

Time-line of the review process should be posted. You should be able to estimate payout based on that if it isn't listed.

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Post ID: @3jaz+1q1e07PZ

I am the OP of this post. To the poster asking why I’m still working here, thanks for your deep insight but the purpose of this post was to figure out when the bonus is coming so I can leave as soon as it hits my bank account.

We get it, AIG su-ks. That’s why we’re on this site. I posted this asking for factual info, so I can make informed decisions, not more complaining about the injustices of AIG.

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Post ID: @3uxo+1q1e07PZ

Why are you still working for a company that will sc**w you over any which way they can? Take what little bit of bonus you get in Feb and get out of there!

There is a life outside AIG and its 100 % better.

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Post ID: @2rzf+1q1e07PZ

Hearing management is planning ways to cut bonus. So don’t expect a dreamy bonus. Management might ask corebridge managers to keep their fake hands on performance appraisals for a mass layoff in first quarter next year. It is getting just ugly each and everyday with this company.

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Post ID: @2esq+1q1e07PZ

Suddenly it makes sense why my manager strongly recommended 3-4 days per week (most do 3 days in, some fewer). It sounds like entire teams STI will be awarded based on collective team attendance.

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Post ID: @1mvn+1q1e07PZ

Have also heard it will be tied to attendance - they will implement an attendance multiplyer.

This will be based on your target attendance - so if you’re targeted with 3 days a week and you average 2 you’ll get 2/3 multiplier plus department / division / personal multipliers

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Post ID: @1sbl+1q1e07PZ

I also heard rumors that bonuses might be tied to office attendance. Wasn’t sure if anybody else heard the same. My team “rule” is 3 days in office.

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Post ID: @1pca+1q1e07PZ

Bonus should be good. I saw an internal presentation where it will be possibly tied in with your attendance to the office. You never know what they will rate you. Unofficially the bonuses may be cut and it will be verbal rating on the attendance and on paper the reduction will have some sort of an hr excuse.

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Post ID: @1twi+1q1e07PZ

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