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  #11  
Old 07-10-2018, 10:35 AM
Enough Exams Already Enough Exams Already is offline
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Originally Posted by Dr T Non-Fan View Post
Are companies is legally obligated to offer this person 50Ls if he's worth only 30Ls?
No, but the chance of his jumping ship after a year or two of experience for a pay raise is much greater if you're paying 30K and the market salary for his exams/exemptions is 50K.
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  #12  
Old 07-10-2018, 10:40 AM
Dr T Non-Fan Dr T Non-Fan is offline
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No, but the chance of his jumping ship after a year or two of experience for a pay raise is much greater if you're paying 30K and the market salary for his exams/exemptions is 50K.
Then they either let him go (because he's not worth it) or keep him and pay him what he's worth at that time.

When I was first hired, with a Master's Degree, I was paid an intro salary. After a year, my company raised my salary to match my educational chops. Maybe that is the exception and not the rule.
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  #13  
Old 07-10-2018, 10:41 AM
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I don't really understand what you mean by that. Why is this related to tailors?
I think he was making a joke.

I don't get the joke, but I think it was one.
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  #14  
Old 07-10-2018, 11:05 AM
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Originally Posted by Dr T Non-Fan View Post
Then they either let him go (because he's not worth it) or keep him and pay him what he's worth at that time.

When I was first hired, with a Master's Degree, I was paid an intro salary. After a year, my company raised my salary to match my educational chops. Maybe that is the exception and not the rule.
That's what I was wondering.
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  #15  
Old 07-10-2018, 11:13 AM
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I don't really understand what you mean by that. Why is this related to tailors?
In order to land a job, you need to look the part. Hence the awesome tailored suits.
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  #16  
Old 07-10-2018, 11:19 AM
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Originally Posted by Dr T Non-Fan View Post
Are companies is legally obligated to offer this person 50Ls if he's worth only 30Ls?
Actually, I do recall that there are a few companies that do not pay for exemptions right away if you have zero experience.

You essentially start at a graduate level salary with zero exam passes, and they put the exemptions in a bank, and when you sit and pass an exam they release a couple fron the bank, so as you gain more experience your salary increases based on your exam progress and exemption background. I thought this was a good system for people with zero work experience and lots of exemptions.
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  #17  
Old 07-10-2018, 11:36 AM
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Hi Wezard,

What skills do you have outside of your education (python, C++, R, other work experience, etc)? You really need to consider the market that you're in. There are lots of equally qualified candidates, so you will need to set yourself apart. There are a lot of companies looking for programming skills, and that's easy enough to learn in your free time. I would suggest Python & R as a start.

Beyond that, as cliche as it sounds, expand your network. Don't simply contact the people you know, but ask the people you know to introduce you to connections in your local market. Look for actuaries in your area, and don't simply approach them with a resume. Ask them non job related questions, get to know them, build a rapport, and move in later with the job related questions (ie How did you find your first job, etc).

You may also want to get a few people to critique your resume and cover letter for you. If it's pretty bland, it may fall flat. It's important to note that resumes are not a one size fits all type deal. You need to read each job description, learn about each company, and then tailor each resume for the job/company you're applying to. You may not have all of the experience required, but try to draw parallels with the experience you do have and the job description/company mission statement.

As far as recruiters are concerned (full disclosure - I'm with DW Simpson), there are not any that work on entry level positions internationally. This is mainly because companies do not use our services at the entry level in these markets. We do have an entry level team, but it is primarily focused on the US / Canadian markets.

Simply put, you will need to buckle down, network, and make every application count. When you do get an actuarial job offer, take it. Don't be concerned with starting salary. That's just a starting point. Once you have your foot in the door, you have 1-2 years to increase your pay. If you're not happy at that point, you'll then have experience that will make your next job search much easier.

I've heard your story a thousand times. The key is to be persistent and stay on point. Make sure your LinkedIn profile looks good. Hide all other social media, and make sure any public photos look professional. Format your emails properly, and don't use shorthand. Lastly, remember to say please and thank you throughout your job search. Kindness and professionalism go a long way in a job search.

Best of luck,

Tom
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  #18  
Old 07-10-2018, 07:37 PM
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Based off my experience, it seems like actuarial employers are wary of hiring ELLs.

At the end of the day, actuaries are business people. I'm still an analyst/assistant, but it feels like I do more talking and writing than I do crunching numbers.
Even if an ELL speaks English proficiently, we still have a bias towards a native English speaker.

The only advice I can give you is to keep trying and apply to every opportunity available.

In one position at our company, we hired someone from Hong Kong because there wasn't anyone domestic available.
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  #19  
Old 07-10-2018, 11:24 PM
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Originally Posted by Dr T Non-Fan View Post
Where are you looking?
And where are you allowed to work?
Well I'm from Hong Kong so I can only work in Hong Kong without a visa.
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  #20  
Old 07-10-2018, 11:25 PM
wezard wezard is offline
 
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Originally Posted by The_Polymath View Post
I have seen this problem before.

Its not a good idea to have zero work experience and lots of exemptions. Companies do not want to pay your salary based on those exemptions when you have zero work experience. Why pay somebody £50K/year when they are doing work worth £30K/year due to the lack of experience.

Russell Group? I am surprised you are not getting a few nibbles, but the problem is the lack of experience and starting salary due to exemptions. You need finance based experience. It does not have to be Actuarial so I suggest you look at other sectors.
I heard that too but I cant help it that I graduated with the exemptions. Do you think it would be better to not mention IFOA exams in the resume?
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