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CrunchinNumbers 02-05-2018 12:21 PM

Reefed
 
I am a recent college grad, who got a degree in finance from a somewhat decent school in my area. I say decent because it is very well known in the area, just no actuary program. I thought I wanted to get my CFA at first, but I later found myself being more drawn to actuarial science. So I was already half way done, before I even knew actuaries existed. I bring this up because literally 10 minutes down the road form my school is another university that is well known for actuarial science, and has 100% job placement. So I am fighting these graduates to begin with; however, I was able to pass P and FM while still enrolled in college, and working 40 hours a week in accounting/AP. So, I felt/thought I would be a strong candidate against someone who only went to school to pass these exams. Turns out, I don't even get a thanks for trying email haha. Another problem is my "geographical location," I get turned down a lot with this phrase in there as well. I am currently in St. Louis, MO. I work in corporate finance, as an analyst, for a big well, known mid-western bank, and have been here for only 7 months. I needed "analyst" experience, and felt that this was a great career move.

Now, with this background, this is why I am posting in here. I recently was asked if I wanted to interview for a pension analyst position at Emerson Electric. Would this look better to a recruiter if I was an analyst doing pensions vs an analyst who does banking. I am not in just one area of banking, I recently accepted the role to be the point person for all our community markets who reports all aspects of their profitability and expenses. I know this isn't insurance, but I feel my skills and duties would transfer over. But what do I know, I have absolutely zero actuarial work experience. I don't even know an actuary haha. Which is probably another problem, but back to the matter at hand. Would a recruiter rather see me do something in the realm of actuaries (pensions in this case), or would they rather see me keep progressing as an analyst in my current role? I am not particularly interested in being a pensions/benefits actuary, but beggars can't be choosers. Would that hurt me as well, or could I still work in life insurance if I wanted? I am taking MFE in March, and have 2 VEE credits as well. I feel I am great entry level candidate already, but I am biased, and would like some professional insight on how to get experience that is beneficial. Any insight would be appreciated.

Thanks in advance

JohnLocke 02-05-2018 12:24 PM

I defintely would not make that switch just to get that kind of experience.

NormalDan 02-05-2018 12:56 PM

What makes you want to be an actuary? It's a long trail to start without having ever talked to an actuary about what the work is like, and the early exams certainly aren't representative.

CrunchinNumbers 02-05-2018 01:47 PM

Quote:

Originally Posted by JohnLocke (Post 9232098)
I defintely would not make that switch just to get that kind of experience.

Well, I will take that as a recruiter will not see a difference? But what if the position was ~$15k more haha.

Quote:

Originally Posted by NormalDan (Post 9232158)
What makes you want to be an actuary? It's a long trail to start without having ever talked to an actuary about what the work is like, and the early exams certainly aren't representative.

I mean I have talked to actuaries before. I was saying none of my friends, my siblings, or anyone I could willingly talk to, who knows me personally, is in this field. I am pretty sure each job is different depending what area you get in to, no? I knew a guy who did pricing as an actuarial analyst, and he said the hardest part of the job was getting the interview. And I want to be an actuary for the same reasons you wanted to/want to (don't know your situation). I have done research and have been applying for a couple years, so it is not like I am just passing exams for no reason. I need to know if I am wasting my time doing banking while still trying to get into the actuarial field.

Dr T Non-Fan 02-05-2018 01:53 PM

I agree.

The smiley face was dumb.

Just keep sending your resume everywhere. Even outside of St Louis. Shotgun Approach to marketing, not Rifle Approach.

royevans 02-05-2018 02:09 PM

Quote:

Originally Posted by Dr T Non-Fan (Post 9232236)
I agree.

The smiley face was dumb.

Just keep sending your resume everywhere. Even outside of St Louis. Shotgun Approach to marketing, not Rifle Approach.

what happened to "pass more exams and get back to us"?

NormalDan 02-05-2018 02:49 PM

Quote:

Originally Posted by CrunchinNumbers (Post 9232228)
I was saying none of my friends, my siblings, or anyone I could willingly talk to, who knows me personally, is in this field. I am pretty sure each job is different depending what area you get in to, no? I knew a guy who did pricing as an actuarial analyst, and he said the hardest part of the job was getting the interview.

Me neither, but I certainly managed to have coffee with one before switching from the job I'd been in 3 years out of college to actuarial, as I'd recommend to anyone else who considers actuarial, or any other job (before or after college). You spend a huge amount of your waking hours doing loosely the same thing, certainly want to make an informed decision.

Quote:

And I want to be an actuary for the same reasons you wanted to/want to (don't know your situation).
Maybe you do. Not sure how you'd know that though. I ask because many young people trying to get in see "raises for passing exams" and just think $$$ without any interest in the field, then don't like the work. If you said you wanted to be a lawyer hopefully you'd feel passionate (or at least interested) about the type of work you'd be doing.

CrunchinNumbers 02-05-2018 03:04 PM

Quote:

Originally Posted by NormalDan (Post 9232335)
Maybe you do. Not sure how you'd know that though. I ask because many young people trying to get in see "raises for passing exams" and just think $$$ without any interest in the field, then don't like the work. If you said you wanted to be a lawyer hopefully you'd feel passionate (or at least interested) about the type of work you'd be doing.

Well, I wish I was as "young" as a lot out of people on here, fresh out of college. I have huge interest in doing asset liability management, or would love to work with annuities or variable life insurance products. But what good is that with no experience? Sure the money is nice too, and I would be lying if that wasn't part of the appeal. But if I wasn't truly passionate about this career choice, I would be in risk management here at my current job, with the other 3 people who have degrees in actuarial science.

Oh, and I will be stealing your coffee with an actuary idea.

Woodrow 02-05-2018 03:08 PM

Don't switch to the pensions job just to look better for the next job

Learn to be brief. It was very difficult getting through your paragraphs to pick out the relevant info. If your cover letter or resume or interview answers are like that, I would lose interest before getting to the good part.

Quote:

Originally Posted by CrunchinNumbers (Post 9232228)
haha.

Please don't do this anymore.

It seems to be a sign of insecurity or you are covering for something. It doesn't make anyone else more comfortable, it just makes it awkward. If this is coming across in your interviews or cover letters, work on that.

Quote:

Originally Posted by CrunchinNumbers (Post 9232228)
And I want to be an actuary for the same reasons you wanted to/want to (don't know your situation).

20 years ago there weren't the same analytical job opportunities there are now.

Woodrow 02-05-2018 03:09 PM

Quote:

Originally Posted by CrunchinNumbers (Post 9232359)
But if I wasn't truly passionate about this career choice, I would be in risk management here at my current job, with the other 3 people who have degrees in actuarial science.

That sounds pretty good, why don't you do that?


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