AIG is committed to providing a fair and equitable workplace for employees without regard to gender, race or ethnicity. We strive to uphold this commitment by implementing global policies that protect our colleagues starting at the beginning of their relationships with AIG, with oversight from the Board of Directors through its Compensation and Management Committee.
Our commitment to pay equity is embedded in our recruiting policies and practices. To avoid perpetuating the effects of pay inequity that new colleagues may have experienced before joining the AIG team, we do not consider or ask for a job candidate’s compensation history when hiring for positions in the United States, which ensures that our colleagues start at AIG on equal footing. We uphold this policy even in states that do not require it by local law. By holding firm to this policy, we can help break the cycle of pay inequity.
All employees at AIG are placed into specific job grades based on their duties and responsibilities, with each job grade providing specific guidance on appropriate salaries. This structure creates pay consistency across all of our global operations and enables employees to better understand and benchmark their compensation. This structure also supports employees by identifying appropriate performance management and career-development opportunities.
AIG draws upon internal processes and monitoring, regularly conducted internal reviews and external benchmarking studies to identify and address any gender, race or ethnicity-related pay gap issues. AIG actively monitors changes in laws and regulations regarding pay transparency with the intent to fully comply with applicable legal requirements.
AIG also provides our colleagues with ample resources to report or discuss concerns related to compensation and pay equity. These include our Employee Relations group, Human Resources department and Compliance Helpline. To encourage meaningful reporting, we give our colleagues the option of maintaining anonymity throughout the reporting process.
Our title sponsorship of the AIG Women’s Open is evidence of our dedicated pursuit of gender equity and gender pay equity. With this sponsorship, we aim to demonstrate our commitment to equitable recognition of exceptional achievements of women on the golf course, in the C-Suite and in society more broadly.
In 2021, the AIG Women’s Open and The R&A set a new benchmark with the announcement of the largest prize fund in women’s major championship golf. Increasing the purse by an additional $1 million in 2022 will more than double the prize fund from 2019 when AIG’s partnership with The R&A commenced. These actions are tangible proof of our commitment to these elite women athletes and gender pay equity in women’s golf. Since setting this example, as hoped, other women’s major championships have followed our lead.
"AIG is committed to serving as allies to women in golf, in business and in the communities where we live and work. Striving for pay equity and highlighting the achievements of successful women are critical components of this commitment and part of AIG’s core values."
Peter Zaffino, Chairman & Chief Executive Officer