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Old 11-28-2013, 11:48 AM
lpsnyder lpsnyder is offline
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Default Please share your actuarial internship experience!

Hello. Currently, I am in the midst of deciding what internship to choose for summer 2014. I had 4 onsite interviews with 4 different companies, and have heard back from two and have received job offers from both companies. (waiting to hear back from the other 2 companies). Just to get some advice, if you had a summer actuarial internship, please share your experience (types of assignments/projects you completed) and what type of training/orientation you had. You do not need to share the company's name if you do not want to. Also, if you received multiple internship offers, how did you choose your particular internship? Best case scenario, I will have 4 offers; worse case scenario, I will have 2 offers, and I am not the best at making decisions. Any advice is appreciated. Thank you!
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Old 11-28-2013, 12:03 PM
Imdw Imdw is offline
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Pick the one that you can see yourself working full time after graduation based on your criterias(location, exam support, the people, the work, the compensation, etc). I mean, that is one of the main reasons to do internships.

The work you do will be different depending on department. I was in life and basically ran and wrote macros half the time and worked in actuarial softwares the other half. My classmate in P/C never even touched Excel and was working in SAS all the time. My other classmate in retirement consulting did 90/10 split on Emblem/Excel.
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Old 11-28-2013, 12:03 PM
Canadiens Fan Canadiens Fan is offline
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Quote:
Originally Posted by lpsnyder View Post
Hello. Currently, I am in the midst of deciding what internship to choose for summer 2014. I had 4 onsite interviews with 4 different companies, and have heard back from two and have received job offers from both companies. (waiting to hear back from the other 2 companies). Just to get some advice,

1. If you had a summer actuarial internship, please share your experience (types of assignments/projects you completed)

2. What type of training/orientation you had. You do not need to share the company's name if you do not want to.

3. Also, if you received multiple internship offers, how did you choose your particular internship? Best case scenario, I will have 4 offers; worse case scenario, I will have 2 offers, and I am not the best at making decisions.

4. Any advice is appreciated.

Thank you!
1. In my Pension Consulting internship at a small firm, I was able to speak to over a hundred clients, their brokers, and their accountants through telephone and through e-mails. I filled out government forms by looking at the clients' account statements, and also prepared drafts of actuarial valuations. Very fast-paced environment and I worked 40-45 hours a week.

In my current Group Insurance internship at a big company, I'm mostly working on small projects here and there by pushing buttons on Excel and writing VBA code. No client exposure here. Very relax and I work less than 35 hours a week.

2. In Pensions, they did an example or two of how to fill out government forms or how to enter data into Excel so that it then fusions into a Word document. I was able to repeat that for other cases.

In Group, not much training to be honest. Had to figure out everything on my own by doing Google searches or looking at examples of past work.

3. I never refused an offer, so I'm maybe not the best person to offer advice here. But I've seen some of my friends receive close to 10 internship offers at the same time (they had close to 4.3 GPA), and the biggest mistake they made was to choose the internship that paid the most. You have to look at the outlook of each field, and not the field that pays the most for an internship. Try to gauge which company's culture you liked the most from your interviews.

4. Relax, this is only an internship and the company doesn't expect you to make a difference. You are there to learn. Don't be shy to ask a lot of questions.

You're welcome!
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Old 11-30-2013, 10:44 AM
AvidLearner AvidLearner is offline
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I'd pick the one which gives me the best opportunity to shine.

If one is day-to-day work with a routine and the other has you working on a project, with some time to take initiative and try new stuff, definitely go for the second.
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