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  #31  
Old 06-20-2019, 01:25 PM
MooBeay MooBeay is offline
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I think I might start my own shop tbh. At least then I can drive my own work/clients. This has been on my mind for a few years.
I'm in.
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  #32  
Old 06-20-2019, 01:40 PM
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I think I might start my own shop tbh. At least then I can drive my own work/clients. This has been on my mind for a few years.
#Axene
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  #33  
Old 06-20-2019, 01:56 PM
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IME one year in insurance is 1.4x one year in consulting, what happened there
You're talking about salaries, the other guys are talking about hours worked.
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  #34  
Old 06-20-2019, 02:08 PM
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I think I might start my own shop tbh. At least then I can drive my own work/clients. This has been on my mind for a few years.
go for it. i think you could give it a good shot. it won't be your ruin if it doesn't work out, and you could go back to consulting or industry. don't burn bridges though
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  #35  
Old 06-20-2019, 03:58 PM
Just Annoyed Just Annoyed is offline
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There are some people in this world that can best be described as follows:

If you are both holding a turd, they will swear that their turd is bigger and smells worse.

People who are like this are more likely to end up in consulting.
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  #36  
Old 06-20-2019, 04:01 PM
CowboyGuy CowboyGuy is offline
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Originally Posted by Arthur Itas View Post
There are good and bad jobs at consulting shops. There are good and bad jobs at carriers.

The x years at a consultant is worth more years than at a carrier is silly. Depends on what you did at each place. It might be worth a lot more, might be worth a lot less.
Super insightful
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  #37  
Old 06-20-2019, 04:02 PM
CowboyGuy CowboyGuy is offline
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Seems more like you are observing a superiority complex.
From what I understand, the OP is having an inferiority complex by talking to those consultants, who perhaps have a superiority complex about themselves.
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  #38  
Old 06-20-2019, 04:09 PM
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The carrot on the stick in consulting is partnership or equity. And to get there you may be expected to sacrifice quite a lot for quite a while. And when you are grinding you don't know if it will be worth it so maybe you self justify at conferences over scotch!
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  #39  
Old 06-20-2019, 04:09 PM
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From what I understand, the OP is having an inferiority complex by talking to those consultants, who perhaps have a superiority complex about themselves.
I think the consultants I spoke to had an inferiority complex with regard to the general population and a superiority complex with regard to other actuaries.
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  #40  
Old 06-20-2019, 04:12 PM
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When I was at my first actuarial conference earlier this year, I noticed that people who work in consulting love talking about it. They would talk about how they work so many hours, and their work is so hard, and they could never tolerate something as boring as working for a carrier, etc.

Is this true? Are consultants really that much cooler than everyone else? Or are they just insecure that they got stuck being an actuary rather than something cool like a data scientist?

For what it's worth, most of the people I'm talking about were associate level, so I'm not sure if older consultants are different.
Let's put it this way. In case of carriers, you'll find a large number of people either only pushing buttons, doing analyst type work, attending meetings, doing more repetitive and less creative work.

In case of consulting, you'll find a large number of actuaries building sophisticated models, making processes automated, doing research, managing clients along with managing internal folks, speaking at events and conferences etc.

Now you'll probably find some people in carriers who are really smart, perhaps smarter than an average consulting. But it will be rare. Similarly, in consulting, you'll find people who are mediocre, perhaps much more mediocre than an average person working in carriers. But again it will be rare.

This polarization increases much more if you talk about big4 companies. Big4 companies tend to maintain a much higher level of quality and scrutiny for their people. You will very rarely find a mediocre consultant at big4. Usually they don't survive longer there and end up leaving soon, mostly due to the stress and pressure that comes with it.

Small shop consulting companies are much closer to carriers, especially large carriers.
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