Ireland needs actuaries

[DW Simpson]

http://www.businessworld.ie/livenews.htm?a=1287081;s=rollingnews.htm

Study shows skill and labour shortages

14:39 28/10/2005
There are significant skills shortages in the construction, engineering and financial services sector and marked labour shortages in banking, health and sales sectors, according to a study in the National Skills Bulletin launched by the Expert Group on Future Skills Needs.

The study was based on the research conducted by the Skills and Labour Market Research Unit of FAS on behalf of the Expert Group on Future Skills Needs.

It found that skills shortages have been identified in construction (architects, civil engineers, planners, quantity surveyors, project managers, experienced site managers, bricklayers, plasterers, carpenters, and painters and decorators), financial services (accountants and tax experts; actuaries; underwriters, financial, investment and risk analysts; fund managers) and engineering among others.

It also found labour shortages in financial services (fund accountants, fund administrators, shareholder services staff, pension administrators and claims processors), food manufacturing (butchers and de-boners), healthcare (care assistants/attendants), services (security guard and waiters/waitresses) and sales (sales assistants) sectors.

The study showed that employment has grown strongly in recent years, while unemployment fell significantly, standing at 4.3pc.

Manufacturing and agriculture were the only sectors to experience a decline in employment over the last five years, with employment in construction experiencing the most significant growth.

It also noted a steady inflow of labour from non-EU sources through the work permit and work visa schemes.

[tommie frazier]

where do we sign up?

[DW Simpson]

where do we sign up?

We're working on a few life actuarial roles in Ireland (http://www.dwsimpson.com/europe.html), and we hope there will be more to follow, in terms of additional disciplines and additional jobs.

Actually, cool, I just looked in our DB and a Dublin P&C job came in today :). Haven't had an opportunity to post it to the website yet. It's an FCAS or FIA (or similar credential) consulting gig, Position #17940.

[DW Simpson]

Actually, cool, I just looked in our DB and a Dublin P&C job came in today :). Haven't had an opportunity to post it to the website yet. It's an FCAS or FIA (or similar credential) consulting gig, Position #17940.

http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=66598

[Queen02]

http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=66598

What kind of salaries are they offering in Ireland now? Last time I looked the salaries in Dublin were extremely low and the cost of living extremely high. Has this changed?

[CelticKid]

I wouldn't say salaries are extremely low, but they wouldn't be on a par with London. The cost of living is high, but by far and away the main cost is housing. If you plan on renting, it's not too bad, but you can forget about buying anywhere unless you're on a mega-salary.
A qualified actuary with some experience would be able to get €100k fairly easily I'd imagine. A family-sized house in a nice area would set you back at least €2m though.
To be honest, I wouldn't say there's a shortage of actuaries in general. There may be a shortage of actuaries with certain skills, such as non-life.

[DW Simpson]

What kind of salaries are they offering in Ireland now? Last time I looked the salaries in Dublin were extremely low and the cost of living extremely high. Has this changed?

Because of the relatively few Ireland roles we're working on, and the fact that those clients haven't yet provided salary information, I'm going to have to punt on that one. My impression, though, is that the international firms with whom we've had Ireland actuarial positions pay competitively in whichever countries they find themselves competing.

[DW Simpson]

http://www.financejobs.ie/display_article.php?i=7748&n=10

...

When addressing the reinsurance industry's annual conference this year, Willhelm Zeller, chief executive of Hannover Re, said that Ireland was 'the ideal location, from a fiscal point of view,' to relocate its headquarters because of the 12.5 per cent corporate tax rate. This incentive was not enough to entice the firm as it was felt that it would be too difficult to recruit the necessary actuaries.

More...

[tommie frazier]

ould it? what is the tax burden there and the COL overall?

[DW Simpson]

what is the tax burden there and the COL overall?

http://www.finfacts.com/irelandbusinessnews/publish/article_1010431.shtml

http://www.mercer.com/costofliving

[Edward]

I wonder how often American actuaries head to Ireland for actuarial positions? And when they do, how long do they work there before coming back to the States?