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Thread: Sobering Discussion

  1. #11
    Actuary.com - Level II Poster
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    Don't get me wrong, I am looking, but I've decided that accepting a salary that is really low on the DW Simpson survey may not be so good. I don't know.

    I have been told too that Beneficial may be considered a company were actuaries go to gain experience, and then they move on. If the salaries are too low for the market, then what incentive do the actuaries have to stay?

    Actually, I wouldn't mind moving, and I'm considering my job search nationwide. We'll see what happens.

  2. #12
    Actuary.com - Level V Poster
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    My first actuarial job was Beneficial. Low pay, then they canceled the actuarial student program (which Kent Cannon is unlikely to do, but the low pay is a Beneficial tradition). Moved on to Texas.

    Low salary makes you more flexible in moving. Staying too long at low pay makes you look bad. Search nationwide.

    Good industry jobs usually include a solid actuarial training program. Consulting can be a tough environment for passing exams, but pay's good. State government jobs are low-pay, terrible for passing exams, poor training too.
    I thought this WAS a real job

  3. #13
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    '''. Thanks for the info JMO Fan.

    Now I'm hearing that I may be considered for an interview at Beneficial, which is a change from what I heard last week, but the prospect of very low pay and no student program is very unappealing.

    I had a good chat with D.W. Simpson last week, and though they were honest that there are thousands of "One-exam-no-experience" candidates, they also said they wanted to keep me in consideration for positions. I have told them I am willing to relocate nationwide.

    I am suspicious that low pay and poor exam support might be the norm here in Utah. It would fit in with what I've seen in my current job supporting recruitment in other career paths. Utah employers are known among local recruiting companies to be very cheap as far as rewarding the employee.

    I guess I need to decide whether it would be worth it to get a local job, slog through at a low salary and little or no exam support for a few years, and then leave for a pay increase, or hold out at my current non-actuarial job while conducting my own national search. "What to do, What to do ..." :skeptical:

  4. #14
    Actuary.com - Level V Poster djerry81's Avatar
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    Quote Originally Posted by mannyjoe View Post
    Are you talking about beneficial? They definitely have low offers, I interviewed there before and I gave what I thought was a very low number vs. the dws survey, and they said they were offering something like 2-3 thousand less.

    Many jobs won't even ask however what your salary expectation is. Or they will have the question on the app but you can just leave it blank. My point of view however is that I just want to get my foot in the door somewhere and I honestly don't care what they pay me. It will all equalize when I get experience and exams, and if it doesn't I can always move on.
    Low offers would seem to me result in a high turnover

  5. #15
    You spam? I ban! Irish Blues's Avatar
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    Quote Originally Posted by cpowell View Post
    I had a good chat with D.W. Simpson last week, and though they were honest that there are thousands of "One-exam-no-experience" candidates, they also said they wanted to keep me in consideration for positions.
    The comment about how many "1 exam, 0 experience" candidates are running around isn't surprising at all - especially given the numbers from the 2nd post of this thread.
    "You better get to living, because dying's a pain in the ***." - Frank Sinatra

    http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

  6. #16
    Actuary.com - Level II Poster
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    That's true. And that is why everyone from the recruiters to the actuaries I've spoken to say to pass FM in November. Needless to say, I've minimized the importance of my job search right now. Studying hard for FM is the most important thing to do until exam day in November.

    I'm still planning on looking, but I'm not going to worry or stress about it. Besides, I think that with only one exam, one VEE and no experience I could possibly end up with a position that isn't as good as one I could get with two exams and two VEEs and no experience. I'm sure it helps that I have a good non-actuarial job, and they've been willing to give me study time by cutting my hours back a bit each week because they want to keep me on until I get an actuarial job.

    I'm feeling much better about my situation compared to how I felt in that first post. Refocusing towards passing FM is the right thing to do at this time for me.

  7. #17
    Actuary.com - Level VI Poster Ken's Avatar
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    Exam 1/P is a good start. I consider exam 2/FM brain candy. The people who pass that one are a dime a dozen. The third exam is a good weeder exam to see who can get any farther in the exam process.
    Whether you are the lion or the gazelle, when the sun comes up, you better be running.

  8. #18
    Actuary.com - Level II Poster
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    Well, I am finding the subject matter of FM/2 easier to understand than P/1. But I don't know if that means anything to anyone else other than me. I hope that continues to hold true over the next several weeks.

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