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#1




Bonus as a percentage of base salary
Someone in a recent thread should have asked as an aside what bonuses are as a percentage of base salary.
A client also recently asked Claude to look at that for Life/Health and for P&C. (Unfortunately, he hasn't looked at Pension.) Here's what he turned up: Life & Health combined For Fellows the last two years, at all levels of experience, the median bonus percentage, stated as a percentage of base salary, is around 20%. For Associates, the median was around 9%. For Students, the median was 0%, meaning that the median student didn't receive a bonus. He looked at the 75th percentile to see what the right side of the curve looked like, and that data point was 4%. So 25% of all Life/Health students had bonuses that were 4% or more of base salary. Property & Casualty For P&C Fellows the last two years, at all experience levels, the median bonus, as a percentage of base salary, was 15%. For P&C Associates, it was 11%. For P&C Students, the median was again 0%, the median P&C student didn't receive a bonus. However, the 75th percentile was 8%. 25% of all P&C students had bonuses that were 8% or more of base salary. 
#3




So a 11% bonus for your first year on the job is good i am assuming.

#4




Not if it is as your first year as CEO........turnaround professional forthcoming.....

#5




I've had four positions as a student in insurance and consulting. Every one of them paid a decent bonus. I find it hard to believe that the average student is getting zero bonus.
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#6




as a student I believed I always got at least an extra month of pay. Unless it is variable and performance based does it count as a bonus?? or is it salary just being paid as an extra lump sum
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#7




I'm posting a link to the prior discussion here because they'll eventually part ways and I won't be able to find the other one http://www.actuarialoutpost.com/actu...ad.php?t=27711 .
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Last edited by DW Simpson; 09222006 at 05:48 PM.. 
#8




Hmph... most of the insurance companies that I have recently interviewed with have a companywide bonus structure in place (factors are the usual suspects  revenue, EBITA, EPS or their mutual equivalent).

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