PDA

View Full Version : Entry Level Actuary Position without internship



Bush
September 29th 2006, 06:57 PM
How much does it hurt me that I don't have an internship? I've passed the first exam, with a mark of 10 and I'm sitting for the second. The relevant internship I have had was related to statistics, but not actuarial.

Does anyone have any comments or suggestions?

wat
September 29th 2006, 07:50 PM
How much does it hurt me that I don't have an internship? I've passed the first exam, with a mark of 10 and I'm sitting for the second. The relevant internship I have had was related to statistics, but not actuarial.

Does anyone have any comments or suggestions?

It doesn't hurt you per se, but I noticed you're in Canada. From what I hear, it's a very competitive market for actuaries there - more so than in the US.

You should probably attempt to pass another 1 or 2 more exams and in the process, try applying to various places. Internships are the norm in Canada (again, hearsay), so you'll have to somehow get around that. If all else fails, you could start with a company in a non-actuarial position and ask to be considered for one, if the opportunity arises.

beck
September 29th 2006, 10:34 PM
hey, i am in canada as well :)

i am in exactly the same situation as you are, except that i have not had any internship so far, and i am graduating next year :( ...

there are just so few actuarial jobs here in BC, maybe i will consider moving to toronto if i can find a job there... but the main thing right now is to pass one or two more exams, so let's all work hard and hopefully it will pay off

murrowboy
October 4th 2006, 02:08 PM
It doesn't hurt you per se, but I noticed you're in Canada. From what I hear, it's a very competitive market for actuaries there - more so than in the US.

You should probably attempt to pass another 1 or 2 more exams and in the process, try applying to various places. Internships are the norm in Canada (again, hearsay), so you'll have to somehow get around that. If all else fails, you could start with a company in a non-actuarial position and ask to be considered for one, if the opportunity arises.

I got a smiliar question. You said that actuarial careers are more competitive in canada? What about New York? I am on my last year to get a finanical mathamatics degree. I am guessing it's not exactly the same same doing acuturial work.

wat
October 4th 2006, 02:28 PM
I got a smiliar question. You said that actuarial careers are more competitive in canada? What about New York? I am on my last year to get a finanical mathamatics degree. I am guessing it's not exactly the same same doing acuturial work.

NY's a competitive market as well - high pay in a high COL area. I don't have a lot of experience with individuals or companies there, but if you have specific questions that you need answered, you might find it helpful to discuss with a recruiter. You don't necessarily have to use them, but you might want to get some info out of them through e-mails/discussions.

murrowboy
October 4th 2006, 11:41 PM
NY's a competitive market as well - high pay in a high COL area. I don't have a lot of experience with individuals or companies there, but if you have specific questions that you need answered, you might find it helpful to discuss with a recruiter. You don't necessarily have to use them, but you might want to get some info out of them through e-mails/discussions.

My first post here so I am a little bit confused.. What is a COL area? Well aleast the jobs are high paying if you get them. I hate competitive fields that pay nothing anyway. Anything easier I can do with a math bach? Can I be an anylast?

MathForMarines
October 5th 2006, 08:56 AM
My first post here so I am a little bit confused.. What is a COL area? Well aleast the jobs are high paying if you get them. I hate competitive fields that pay nothing anyway. Anything easier I can do with a math bach? Can I be an anylast?

COL is cost of living. If you are comparing job offers, you should scale the salary by the COL in that area to see how much the money is actually worth.

At least as far as actuarial exams go, I don't think there is anything harder you could do with a math degree, so to answer your question, yes, anything would be easier.

What do you mean by "anylast" ? :confused:

wat
October 5th 2006, 12:22 PM
COL is cost of living. If you are comparing job offers, you should scale the salary by the COL in that area to see how much the money is actually worth.

At least as far as actuarial exams go, I don't think there is anything harder you could do with a math degree, so to answer your question, yes, anything would be easier.

What do you mean by "anylast" ? :confused:

I think he meant "analyst". And yes - having a math degree qualifies you for quite a few quantitative-based fields out there, though you may need training in other areas for specialization.

And yes, MFM is right - COL is "cost of living". $100k in NY is not $100k in Wyoming, for instance.

The actuarial field is well-compensated: see http://www.dwsimpson.com/salary for details. But if you don't like the idea of taking exams, actually getting your credentials may be an extremely difficult task.

murrowboy
October 5th 2006, 01:49 PM
I think he meant "analyst". And yes - having a math degree qualifies you for quite a few quantitative-based fields out there, though you may need training in other areas for specialization.

And yes, MFM is right - COL is "cost of living". $100k in NY is not $100k in Wyoming, for instance.

The actuarial field is well-compensated: see http://www.dwsimpson.com/salary for details. But if you don't like the idea of taking exams, actually getting your credentials may be an extremely difficult task.


Analyst Yes.. Sorry about the confusion. So acutary is the highest rank I can go for as far as math is invovled? I always find finanicial risk very interesting. If I wish to be an analyst, where do I start from here since I am about 1 year away from graduating? I have a minor in finanice so I hope it looks good if I apply to be a FA.

Thomas H
October 5th 2006, 02:06 PM
I'm currently looking around for a job myself and I haven't worked out in the world as any type of analyst, but one thing I've noticed is that a lot of these consulting firms that are hiring people for business analyst positions (not talking about positions listed as an actuary) want someone with an MBA.

Irish Blues
October 6th 2006, 06:16 PM
Forget the States. There are no jobs here whatsoever.
Your expected income = probability of getting a job * salary is 0.
http://www.actuary.com/actuarial-discussion-forum/showthread.php?t=983

I guess I should let my employer (who will have at least 15 and possibly 20-25 entry-level actuarial positions with a June 2007 hiring date) know that they've not only wasted the last 4 weeks interviewing potential candidate (including on-site interviews that started this week), they're going to waste the next 6-7 months interviewing even more people on the phone and bringing some of them in for on-site interviews ... because there's really no jobs available.

Irish Blues
October 7th 2006, 03:15 PM
http://www.actuary.com/actuarial-discussion-forum/showpost.php?p=10233&postcount=33

Good luck elsewhere then. I hope you find whatever it is you're looking for overseas.