Average AIG Bonus: $8,831.72

More

Politico just blasted around a story noting that AIG has revised the estimate its 2008 bonus awards to almost four times the company's original estimate: "AIG now says it paid out more than $454 million in bonuses to its employees for work performed in 2008." But reading the whole article didn't exactly revive the populist bloodthirst. Quite the opposite. It's true that the company paid almost four times as much in bonuses as was originally reported. But the new figure covers more than eight times as many employees!


The original reports said there was $120 million in bonuses for 6,000 employees -- an average of $20,000. But here is the total revised breakdown:

Domestic Life and Foreign Life Operations: 23,851 employees received an average of $5,050 each.

Property Casualty Group: 3,943 employees received an average of $5,403 each.

Foreign General Insurance Operations: 8,669 employees received an average of $5,074 each.

Retirement Services Operations: 1,168 employees received an average of $11,889 each.

Financial Services: 5,357 employees received an average of $4,994 each.

Asset Management Group: 2,095 employees received an average of $51,026 each.

Corporate wide variable plan: 6,410 employees received an average of $18,954 each.

I count $454,771,905 distributed to 51,493 employees. Unless I'm making some terrible math error, that's an average bonus of about $8,832. For comparison, the average bonus on Wall Street in 2004 was $100,600.

Jump to comments
Presented by

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.
Get Today's Top Stories in Your Inbox (preview)

Sad Desk Lunch: Is This How You Want to Die?

How to avoid working through lunch, and diseases related to social isolation.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where Time Comes From

The clocks that coordinate your cellphone, GPS, and more

Video

Computer Vision Syndrome and You

Save your eyes. Take breaks.

Video

What Happens in 60 Seconds

Quantifying human activity around the world

Writers

Up
Down

More in Politics

Just In