The Working Life

In the early years many of AMP’s administrative staff were recruited through the favour of the Society’s directors, but by the 1870s its recruitment strategy was to hire young clerks, generally no older than 16, through a competitive process, with a view to having the best and brightest trained in-house and working in its offices. Prospective clerks must pass a rigourous exam before being offered an apprenticeship in which they gained experience working in various departments. Upon commencement, clerks signed a three-year contract, with the wage initially so low they would often rely on family support to afford to live, particularly those working in the more expensive cities such as Sydney. If, after their initial three years, a clerk’s work and conduct were judged favourably, they would be invited to sit an additional exam and could stay on with AMP, with the best clerks earning up to £135 per year (Blainey, 1999). After six years with AMP, clerks were required to sit yet another exam, this being the most competitive of them all and including subjects such as the compilation of life tables, laws of life assurance, and book-keeping (Blainey, 1999).

AMP believed strongly in promoting from within. While some clerks who studied and gained formal qualifications could leapfrog others, for many years all senior and middle management employees had worked their way up the ladder.

AMP exercised considerable control over its employees, particularly juniors. For example, a clerk earning less than £175 could not marry without the Society’s permission. This meant the best clerks were in their mid-20s before they were earning enough to be permitted to marry. Female clerks were required to resign as soon as they married.

In the 1910s, AMP employees gained more control over their employment and lives through the advent of trade unionism, which had been in existence in Australia since the 1850s but was in its infancy in the white-collar professions. The AMP Staff Association was formed and successfully advocated for some gains, such as lowering the retirement age from 70 to 65 and importantly, from 1924 all AMP employees were granted a 38-hour working week. This was an enormous development considering it wasn’t until 1948 that the Commonwealth Court of Arbitration approved a 40-hour work week for workers. Most AMP employees joined the AMP Staff Association, although it wasn’t until 1970 that it gained its first full-time officer when Lloyd Meredith was appointed secretary. 

AMP had quite generous employment conditions compared to similar organisations. The Insurance Industry Award handed down in 1927 was of little concern to AMP, who stated they already offered superior conditions to those in the Award. In the 1920s AMP’s administrative staff worked a standard 9am-4.30pm day with a 30-minute lunch break, and 9am-12pm on Saturdays. Employees with less than 10 years’ service were given 2 weeks’ annual leave, with 3 weeks for those who had been with the Society over 10 years. Employees suffering from ill health were given paid sick leave, often for extended periods. Long-term male employees also had access to the AMP Officers’ Provident Fund.               

Working at AMP also had many social benefits, with the Society hosting regular picnics and concerts, and there was no shortage of AMP sports teams and clubs including football, cricket, hockey, tennis, golf, table tennis, chess, public speaking and photography.

AMP was considered an attractive place to work, and the Society continually reviewed its salaries and incentives. The AMP staff superannuation scheme was very generous, and the range of additional benefits included access to cheap or subsidised loans for housing, furniture and cars; study leave for selected staff; medical benefits; meals at cost in the staff cafeterias; compensation for injured employees; and payment of wages for those undertaking military service.  

AMP was always aware that its greatest asset was its people, and the Society was keen to develop new ways to recognise and reward its employees. AMP was particularly keen to reward its top sellers, which became referred to as ‘champions’. Champions were recognised with trophies, their names engraved on honour boards displayed in AMP offices, and their accomplishments publicised in AMP’s newsletters. An example of a champion was Colin Davey who worked as both an industrial and ordinary agent from the late 1920s to early 1970s. When he died in 1972, Davey had sold an extraordinary $133 million of insurance (Blainey, 1999).