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  #31  
Old 06-29-2012, 12:33 AM
kyotousa kyotousa is offline
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From SOA.org

Insurers and Reinsurers

When most people envision actuaries, this is where they picture actuaries working. Insurance and reinsurance companies hire the majority of actuaries. Work hours in the industry are primarily 8 to 4 or 9 to 5. Actuaries are also provided with paid study days to complete actuarial exams. Busier times, which could add several hours to the workday for 3-10 days, often come cyclically at the end of each month and quarter, or only when there is a large project in progress. As you are promoted to management levels, the workday typically gets longer by a few hours as well.

In such a role, you have plenty of time to study for exams and have a strong social life. It is easy to go out after work and still have plenty of energy for the next day. These are the types of jobs that give the profession such a great reputation and high ranking as one of the best professions in the world.

Actuarial Consulting

Actuarial consulting companies are often divided into pension consulting, and health and benefits consulting. With the emergence of the Chartered Enterprise Risk Analyst (CERA) designation and growing emphasis on risk management, there are more and more risk management roles as well for actuaries, in both insurance and consulting contexts.

A typical workday can be from 9 to 6. The hours are longer than at insurance companies but most consulting companies have flexible schedules; as long as you complete your work to a reasonable standard, you can set your own schedule around the core business hours (usually 10 to 3). 「Busy season」 lasts for a few months, where the workday becomes 8 to 7, and at times even longer (both earlier and later). Each year you are given a target for billable hours, or time that can be charged to a client.

At an actuarial consulting company you are kept busy, but there is still sufficient work-life balance. There tend to be fewer study days, however, so more personal time outside of work needs to be devoted to studying in order to continue passing exams. As well, exams often become secondary to work in the dynamic consulting environment.

Non-Traditional Roles

These roles may not require an actuarial designation generally, but are often related to actuarial science in some way. It could be at a consulting firm that helps to model insurance products and associated liabilities for insurers, or a financial institution that markets insurance-linked securities and completes mortality-based (or longevity-based) transactions.

Work schedules here will correspond to the specific company and industry. For management consulting and financial institutions, workdays can be 12 hours or longer. Of course, compensation is higher as a result. Salaries are often larger in absolute terms but can be lower at an hourly basis. Conversely from insurance and reinsurance companies, workdays typically become shorter as you are promoted, although management at both companies may work similar hours.

Study time is typically not offered in non-traditional roles, as actuarial designations are not required. In these industries, there may be little or no incentive to obtain an actuarial designation.

As a result of such long workdays, weekends are usually the only chance to connect with friends and family. Maintaining relationships may require more creativity.
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  #32  
Old 06-29-2012, 03:35 PM
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Originally Posted by kyotousa View Post
From SOA.org

Insurers and Reinsurers

When most people envision actuaries, this is where they picture actuaries working. Insurance and reinsurance companies hire the majority of actuaries. Work hours in the industry are primarily 8 to 4 or 9 to 5. Actuaries are also provided with paid study days to complete actuarial exams. Busier times, which could add several hours to the workday for 3-10 days, often come cyclically at the end of each month and quarter, or only when there is a large project in progress. As you are promoted to management levels, the workday typically gets longer by a few hours as well.

In such a role, you have plenty of time to study for exams and have a strong social life. It is easy to go out after work and still have plenty of energy for the next day. These are the types of jobs that give the profession such a great reputation and high ranking as one of the best professions in the world.

Actuarial Consulting

Actuarial consulting companies are often divided into pension consulting, and health and benefits consulting. With the emergence of the Chartered Enterprise Risk Analyst (CERA) designation and growing emphasis on risk management, there are more and more risk management roles as well for actuaries, in both insurance and consulting contexts.

A typical workday can be from 9 to 6. The hours are longer than at insurance companies but most consulting companies have flexible schedules; as long as you complete your work to a reasonable standard, you can set your own schedule around the core business hours (usually 10 to 3). 「Busy season」 lasts for a few months, where the workday becomes 8 to 7, and at times even longer (both earlier and later). Each year you are given a target for billable hours, or time that can be charged to a client.

At an actuarial consulting company you are kept busy, but there is still sufficient work-life balance. There tend to be fewer study days, however, so more personal time outside of work needs to be devoted to studying in order to continue passing exams. As well, exams often become secondary to work in the dynamic consulting environment.

Non-Traditional Roles

These roles may not require an actuarial designation generally, but are often related to actuarial science in some way. It could be at a consulting firm that helps to model insurance products and associated liabilities for insurers, or a financial institution that markets insurance-linked securities and completes mortality-based (or longevity-based) transactions.

Work schedules here will correspond to the specific company and industry. For management consulting and financial institutions, workdays can be 12 hours or longer. Of course, compensation is higher as a result. Salaries are often larger in absolute terms but can be lower at an hourly basis. Conversely from insurance and reinsurance companies, workdays typically become shorter as you are promoted, although management at both companies may work similar hours.

Study time is typically not offered in non-traditional roles, as actuarial designations are not required. In these industries, there may be little or no incentive to obtain an actuarial designation.

As a result of such long workdays, weekends are usually the only chance to connect with friends and family. Maintaining relationships may require more creativity.
Is this seriously from the SOA? Most of that is complete bullshit. Since when is "every single person who doesn't work in insurance having only the weekends to have friends" anywhere close to a fact
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  #33  
Old 06-29-2012, 03:55 PM
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Quote:
Originally Posted by Vomik View Post
Is this seriously from the SOA? Most of that is complete bullshit. Since when is "every single person who doesn't work in insurance having only the weekends to have friends" anywhere close to a fact
1.

2. I searched soa.org for the phrase "actuarial consulting companies" and found nothing remotely similar to the quote above.
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  #34  
Old 06-29-2012, 04:19 PM
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probably from beanactuary.org
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  #35  
Old 06-29-2012, 04:21 PM
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Originally Posted by JMO View Post
1.

2. I searched soa.org for the phrase "actuarial consulting companies" and found nothing remotely similar to the quote above.
Man it's even written with the same tone as beanactuary. I ate it up. I WANT TO BELIEVE
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  #36  
Old 06-29-2012, 04:23 PM
act2106 act2106 is offline
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Actually I think it was in an email sent from the SOA to the Actuaries of the Future, or from the Actuaries of the Future section. Something about Actuaries of the Future.
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  #37  
Old 06-29-2012, 11:08 PM
kyotousa kyotousa is offline
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Quote:
Originally Posted by JMO View Post
1.

2. I searched soa.org for the phrase "actuarial consulting companies" and found nothing remotely similar to the quote above.
Right, if you can't find it then it must be a troll post.
Besides, why would anyone want to waste their energy trolling an actuarial forum.

http://www.soa.org/News-and-Publicat...n-Actuary.aspx

Quote:
Originally Posted by act2106 View Post
Actually I think it was in an email sent from the SOA to the Actuaries of the Future, or from the Actuaries of the Future section. Something about Actuaries of the Future.
This, i didn't even read it. lol
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