AIG Reviews

Updated August 30, 2015
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2.9
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AIG CEO Peter Hancock
Peter Hancock
40 Ratings

Pros
  • There is a great potential for work-life balance as long as you work out an agreement with your manager (in 53 reviews)

  • Work-From-Home option given (if needed) (in 30 reviews)

Cons
  • Work life balance: It's slowly getting better (in 15 reviews)

  • Senior management doesn't care too much about their subordinates (in 30 reviews)

More Pros and Cons

304 Employee Reviews

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  1. Great atmosphere and loved my work!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Actuarial Intern in New York, NY
    Former Employee - Actuarial Intern in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at AIG (Less than a year)

    Pros

    Huge company with opportunities to learn about multiple areas, amazing benefits, fantastic exposure to leadership in internship program, networked globally with AIG talent

    Cons

    Constant restructuring because of organization size


  2. As corporate as it gets

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend

    I worked at AIG full-time (More than 5 years)

    Pros

    Good work-life balance, decent benefits, loyal employees/lifers, relatively stable

    Cons

    Not much learning/growth. A lot of red tape, extremely slow, hard to get anything done. Projects often get stalled or cancelled due to new management/new direction and constant waiting on review/approvals by all parts of the organization.


  3. Project Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Project Manager in New York, NY
    Current Contractor - Project Manager in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at AIG as a contractor (More than a year)

    Pros

    I like the company before of its leadership, vision and opportunities they provide.

    Cons

    knowledge transfer is not effective due to constant reorgs.

    Advice to Management

    May be a brand new vision will bring lot of opportunities. Great company to work with.


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  5. Helpful (5)

    Stable company but more focussed on shareholder value then employees

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager in New York, NY
    Current Employee - Project Manager in New York, NY
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at AIG full-time (More than 3 years)

    Pros

    AIG has a decent benefits program. They try not to lay off employees in their expense management program as they rely on attrition and vendor cuts. Depending on your department you may have a flexible or work from home schedule available. The company offers a decent PTO program where many employees get 24 PTO days a year along with 1/2 days before major holidays. The starting base salaries are good and bonusses are very good since AIG relies on a total compensation model. The company is profitable and showing good shareholder value.

    Cons

    Expense management is a major company theme. They are asking all mid-level and senior managers to cut 3-5% of their budgets each year for the next 3 years. What that means is the company will continue with the practice of providing no annual inflationary raises. I think this started when the Gov't bailed AIG out and they practice has continued where AIG will raise the employee bonus a little each year but not the base salary. What this means is that if the employee gets an avg or above avg review while the company meets goals the employee will make a little more each year but the downside is it is all bonus that can quickly go away of an employee falls out of favor with his / her manager or their is an irregularity with AIG's earnings / the company does not meet its goals. AIG follows a style similar to what GE started with Top Grading for reviews. That means each year 20% of the employees are required to be at the lowest 2 review grades, 55% will be at the middle grade, and 25% will be at the top 2 grades. While this is not bad, the consequence is that in order to get a raise you need to earn a promotion which means you need to be in the top 25%. The 55% of the employees that are just doing their job and meeting their goals will not get any raise. Since 20% are required to be at the lowest 2 grades it can mean an employee doing his / her job decently can be pushed to that level if there are not enough low performers. This also leads to a lack of team work since everyone is focussed on their own goals and not as willing to help someone else that may be at a similar level and competing for an above average grade and promotion. There seems to be 1-2 reorganizations each year where the strategic path is slightly changed. While change can be good, in this case it leads to a less stable enviornment where employees are switching managers 1 to 2 times each year. There is a lack of career path programming for employees unless a manager takes an employee under his / her wing. As a global company many domestic jobs are headed overseas even for US based work. The focus does seem to be more on globalization for business and resources. Each group and department feels like a silo. In some comapnies you have a family atmophere where you feel connected to the company and its success. AIG is a very corporate environment that does not offer that. An example of the culture is around the corporate dress code. Officially it is business casual but in the NYC offices it is common for many to wear full suits and ties each and every day. It is very rare to see a golf shirt on anyone. In some of the suburban offices you see more casual dress but the culture does seem very formal and buttoned up.

    Advice to Management

    While expense management is important your employees are assets and not easily replacable. A small 2% infaltionary raise each year to salary will go a long way to employee retention. Also, you have intense competion for grade promotons where some employees don't want to help others because they don't want the other employee to surpass their goals by a large margin and steal a promotion. You also don't have a good career path program for the average employee. It is very easy for an employee to get type cast into a role with little upward potential. When the employee tries to post for a new job sometimes they are at a disadvantage vs. an outside candidate because the role they are in may have limited responsibilities. Most top down employee communications are related to earnings and business goals. It is very rare we hear about employee programs. One of the domestic competitiors (Chubb) has very good employee programs that can be a model for AIG. As an example Chubb sponsors a softball and bowling league for employees while AIG won't contribute to employees willing to take part in corporate leagues. It may be smart to look to Google, Microsoft, Apple, and some non-insurance companies to see where the trends for employee programs are going. There are differences culturally between Baby Boomers and Millennials that should be looked at. Baby Boomers come from the suit and tie in the office environment while Millennials are more tech savvy and feel independent enough to be able to work outside of a formal office enviornment.


  6. Helpful (1)

    Great Company to work for

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analytics and Finance Manager in New York, NY
    Former Employee - Analytics and Finance Manager in New York, NY
    Recommends
    Approves of CEO

    I worked at AIG full-time

    Pros

    Good managers, work ethics and work life balance is great. Visibility is tremendous if one works hard enough.

    Cons

    Relative performance ratings are horrendous. The recruitment process and HR not upto mark. The whole cost cutting measures are meaningless.

    Advice to Management

    Rather than laying of 10 junior position personnel, lay off one executive level member. More work will be done and less lives will be affected


  7. Solid Company - Lots of Challenges

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Negative Outlook

    I have been working at AIG (More than 10 years)

    Pros

    - Working with some great, smart, talented people. - Good benefits with generous PTO. - True global player, you can learn a lot. - Many opportunities to shine if your smart and talented. - Many smart and talented leaders.

    Cons

    - NEVER business as usual. I have worked for AIG for 15 years. AIG has been in constant reorganization since the crisis of 2008. Constant change in priorities and organization is business as usual at AIG. - AIG's operations are still fairly fragmented, but getting better. AIG grew from acquisitions in the 80's and most acquired companies were allowed to operate anyway they wanted so long as they were profitable. This plus a lack of investment in infrastructure makes AIG a bumpy place to work. Over the last couple of years a great amount of effort has been put into standardizing operations and improving the systems with moderate success. There is a lot more work to do. New CIO, Phil Fasano, and his team seem to be making positive strides on the technology front, however. Fingers-crossed.

    Advice to Management

    Somehow AIG needs to get to a business as usual state. Many high performers are leaving due to burn out.


  8. Steer Clear

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at AIG full-time (More than 10 years)

    Pros

    Decent benefits package for insurance coverage and number of vacation days.

    Cons

    Forced performance ranking. There is a rigid quota system that determines how employees are ranked. As a result, some employees get trapped in the lower tiers even if they're doing their jobs adequately. Good efforts are de-emphasized and weaknesses accentuated at review time in order to justify a low rating and meet the quota. Once a person gets a low ranking, it's almost impossible to rise above it the next year. The system is inherently unfair.

    Advice to Management

    Read the human resources literature on forced ranking. Then drop a system that most management experts decry as inherently flawed. While you're at it, replace the head of human resources, who has been quoted in the press as being a firm believer in this egregious practice.


  9. reviwer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at AIG full-time (More than 5 years)

    Pros

    exposure to a global company

    Cons

    changes every six months , structure goals, hard to deal with the amount of politics

    Advice to Management

    have a medium term vision , take advantage of individuals with AIG experience promote those who actually have shown results not the wants that just talk


  10. DO NOT WORK IN NYC HR

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at AIG full-time (More than a year)

    Pros

    Some of my coworkers were cool people. The facilities are nice and I like the area of the Water Street Office. They also have a cafeteria that was good in a pinch. pretty good pay and bonus. They also are flexible, allowing you to work from home when needed.

    Cons

    I worked in global HR in the water street location. I went through 2 or three restructurings and I was only there a year and a half. I had 3 different managers and completely no direction. They are not organized and the place overall is just miserable. It's not one of those places where you love to come to work. In HR there is no effort to keep their employees happy and upper management all hate the global head which trickles down to everyone else. HR is very political and it's really hard to change positions without having someone's ear on the recruiting team. The structure is extremely hierarchal and literally everyone is making up their daily duties as they go. No one quite knows what to do and it was probably one of the worst jobs I've ever had. Not to mention my manager was a complete nut, very inappropriate and in the end downright nasty. If you are thinking of taking a job in the HR department please think twice. Don't go through the bs I went through, just don't do it.

    Advice to Management

    Invest in training your back office managers on how to manage. Change the Global Head and it should trickle down the hierarchy. Remember a happy workplace is a successful and profitable workplace.


  11. AIG

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Large, global brand with very good benefits.

    Cons

    Unclear strategy about where the company is heading and it's turning back into a very political place now that the financial crisis is far enough in the rear view mirror.

    Advice to Management

    The company needs a clearer strategy that employees can rally behind. The strategy needs to be tangible and then tactical goals need to be defined in each of the areas that relate to the overall strategy, and employees can relate to and impact.



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