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Old 04-28-2004, 06:43 PM
Emily Emily is offline
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Default 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.
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Old 04-28-2004, 10:24 PM
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Utanapishtim Utanapishtim is offline
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Good to see somebody still knows how to put the ol' solar calculator to good use (:
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Old 04-29-2004, 11:14 AM
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So a 11% bonus for your first year on the job is good i am assuming.
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Old 04-29-2004, 11:16 AM
oscar peterson oscar peterson is offline
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Not if it is as your first year as CEO........turnaround professional forthcoming.....
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Old 04-29-2004, 11:21 AM
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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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Old 04-29-2004, 11:34 AM
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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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Old 04-29-2004, 11:39 AM
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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 .

Quote:
Originally Posted by dumber
I find it hard to believe that the average student is getting zero bonus.
Many student positions aren't bonus-eligible, and most student positions aren't with consulting firms.

Last edited by DW Simpson; 09-22-2006 at 05:48 PM..
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Old 04-29-2004, 01:07 PM
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Hmph... most of the insurance companies that I have recently interviewed with have a company-wide bonus structure in place (factors are the usual suspects - revenue, EBITA, EPS or their mutual equivalent).
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Old 04-29-2004, 01:17 PM
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Quote:
Originally Posted by hotkarl
So a 11% bonus for your first year on the job is good i am assuming.
Not if your salary was only 90% what it would have been elsewhere. Comparing bonuses is interesting. It kills time between salary surveys. But let's not forget that it's salary+bonus that actually matters.
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Old 04-29-2004, 01:25 PM
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Quote:
Originally Posted by Force Majeure
Hmph... most of the insurance companies that I have recently interviewed with have a company-wide bonus structure in place (factors are the usual suspects - revenue, EBITA, EPS or their mutual equivalent).
I asked a few recruiters to verify what I saw. Student bonuses, when offered at non-consulting firms, generally kick in after three years of experience. That's where a lot of the $0 bonuses are coming from.
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