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harthagan
December 12th 2006, 01:02 AM
What are the best sources of information for actuary salaries in the first five years in the career?:
mreevit
December 12th 2006, 10:08 AM
I don't know if this is the best source, but certainly the most widely used.

www.dwsimpson.com/salary (http://www.dwsimpson.com/salary)
07Grad
February 15th 2007, 07:28 AM
DW Simpson gives you a good idea of the salary range for a P&C with 2 exams and some experience - http://www.dwsimpson.com/salary.html .
maryland
February 15th 2007, 11:59 AM
It depends on the industry/where you live/exams you passed/and even company specific. First year salarys I was being offered were around 50k. An insurance company I had an offer from gave a 5% automatic raise per exam in addition to other possible raises. A consulting firm I had an offer from didn't give as much for exam passage but I'm sure if you did a good job your salary would rise pretty well over the first five years. If you want a government position, you can find out exactly how much you'll make in the first five years right now.
maryland
February 15th 2007, 12:00 PM
By the way, I did use the DW Simpson salary survey when choosing my exact position. I think it's pretty good for the first five years.
Al Bundy
December 15th 2008, 10:12 AM
i would be extremely disappointed with only a 5% raise. or even 10% (5% plus a year end 5%)
looking at the simpson table..i think $10,000 per exam would be good.
i'm making $40,000 with 0 exams and 1 year experience. I hope to be up to at least 65K after 2 exams and 4 years exp. (in NY)
But i shouldn't think so far ahead and expect anything...
vividox
December 15th 2008, 12:15 PM
i would be extremely disappointed with only a 5% raise. or even 10% (5% plus a year end 5%)
looking at the simpson table..i think $10,000 per exam would be good.
i'm making $40,000 with 0 exams and 1 year experience. I hope to be up to at least 65K after 2 exams and 4 years exp. (in NY)
But i shouldn't think so far ahead and expect anything...

$10,000 an exam? For the preliminary exams? Good luck finding that.
ajsnyder85
December 15th 2008, 12:37 PM
$10,000 an exam? For the preliminary exams? Good luck finding that.

I dunno. In NYC that might be equivalent to perhaps a $500 raise anywhere else :Teeth:
Al Bundy
December 15th 2008, 01:18 PM
well look at the simpson table. . a typical salary for 2 exams and a few years experience is $60,000-$75,000
vividox
December 15th 2008, 01:58 PM
well look at the simpson table. . a typical salary for 2 exams and a few years experience is $60,000-$75,000

Yeah, but that doesn't mean "Exam = $10,000". That's also experience. That number is more like a $2500 per exam raise and an 8-10% annual raise.
Dallas_Wyciskalla
January 11th 2009, 01:34 PM
How did you get a job without passing any exams? Thats awesome!
NoMoreExams
January 11th 2009, 03:14 PM
How did you get a job without passing any exams? Thats awesome!

Whom are you asking?
Dallas_Wyciskalla
January 11th 2009, 04:27 PM
I was asking Al Bundy. He said he made 40k with 0 passed exams.
Al Bundy
January 12th 2009, 07:54 AM
I was hired as a Jr. Statistician in the Stat Reporting dept. w/ my background in insurance/programming/math making $36K
Then they promoted me 6 months later to work under the actuary in a reshuffling in the department.
My previous job was at Geico as a claims examiner for 7 months. (went through '''' there) Before that I worked for 2 manufacturers for 5 years.
Dallas_Wyciskalla
January 12th 2009, 05:53 PM
I got ya. Thanks.