Finding a First Internship

[NoMoreExams]

I should add some more details then. The company that hired me as an intern and now as a full-time analyst is a well-known P&C insurance company, looking to add to its predictive modeling team. That's where the statistics and SAS come into play. The job profile preferred that candidates have an advanced degree. I was very fortunate to find this intern position, and even more so for the company to hire me. It fits my background perfectly, and I enjoyed every minute of last summer working with the team. Maybe my situation is an exception to the common thinking, but you can't go wrong with more education.

Well that does sound great and congratulations to you! I would agree that if you can afford it, instead of sitting on your hands, a Masters degree in stats isn't something bad.

[sohpmalvin]

hat's where the statistics and SAS come into play. The job profile preferred that candidates have an advanced degree.

What does your master degree course cover?

I wrote to University of Wisconsin (which is one of the centers of actuarial excellence) about its master degree, and I was told that I am overqualified for the course. I was still a campus student, with 6 actuarial exams. I am not so sure whether SOA exams worth more or the master degree program, at least, I get a hint from the reply that master degree program < passing the preliminary exams.

If this is the case, you might just need to spend 10-30% of the master degree fee for study manuals, study aids, and exams registration. Less time, less costs, more value.

[Chitown26]

What does your master degree course cover?

The program at my university includes a 3-course sequence in data analysis/logistic/multivariate using SAS, a 3-course sequence in intermediate to advanced probabilty and statistics, and courses in applied regression, design of experiments, time series, sample survey, and two electives (quality control, queuing theory, survival, nonparametrics, stochastic processes).

[R_T]

..........

[Chitown26]

Well that does sound great and congratulations to you! I would agree that if you can afford it, instead of sitting on your hands, a Masters degree in stats isn't something bad.

Thank you.

[Galois]

This discussion has me wondering, as someone who was lucky enough to get a P&C actuarial internship at a very well known insurance company in the US with no exams, exactly how much does internship experience help in finding a full time position?

[NoMoreExams]

This discussion has me wondering, as someone who was lucky enough to get a P&C actuarial internship at a very well known insurance company in the US with no exams, exactly how much does internship experience help in finding a full time position?

That's kind of hard to quantify. 2 exams + internship >> 2 exams and maybe even 2 exams + internship > 3 exams. It depends what you learned, how you spin what you did, etc. At the very least, you have a chance to get a FT offer from the company where you had your internship (provided they are hiring) and made some good contacts. Actuarial world isn't that big, and people talk...

[sohpmalvin]

This discussion has me wondering, as someone who was lucky enough to get a P&C actuarial internship at a very well known insurance company in the US with no exams, exactly how much does internship experience help in finding a full time position?

It depends also on how you "talk" during the interview; how you present yourself and how you communicate what you have learned in the internship determines the value of your internship.

[mikailum]

Also, you should be extremely prepared to pass that second exam. Your chances of hearing back from anyone will be a lot greater with 2 exams passed than just 1. You can at least tell them now you plan to sit for one in March and then apply or follow-up with companies after you know if you passed that exam.

Sitting for P in March, and yes, I've been studying like crazy. This is encouraging, since my responses from companies so far have been basically zilch. Not even any interviews. It sounds like 2 exams is now the minimum criteria for entry into the field.

In the meantime, I've been lucky enough to find work as a computer programmer. Not my passion, but the money is good, for now.

[Galois]

thanks for the input to you both, unfortunately a hiring freeze prevented them from making offers, in fact where two years ago they had 20 interns, this past summer they had 2....at least they agreed to pay for my exam p.